College is a good time to gain knowledge into all kinds of human endeavors, including the basics of managing money.

Star Tribune reports.

College students should skip the plastic

The other day I was asked if entering college students should get a credit card when they head off to school. My answer is that credit cards and college undergraduates don’t mix. (There are exceptions to that general rule, of course. A credit card is for students attending college in another country). Here’s why.

For most young adults, the college years are the first time they’re learning to live with a budget they control. Learning how to set up a budget — with parental guidance and input — and following through on the financial blueprint is key to managing money in college. A debit card, essentially an electronic checkbook, is the financial tool that best fits with the idea of undergraduates learning about budgets.