Message to college freshmen: beware free promos

Everyone that has been to a college campus before is familiar with the scene. Booths line common areas offering students free promotional items in every color, shape and size. While the offers look tempting and free pizza sure sounds like a good deal at lunch time, the hidden hooks behind a free piece of pie can have life-altering effects for many students. Just sign here on the dotted line, please.

Corporations are preying on our young adults by offering pre-approved credit cards, cell phone plans and other contracts with free promotional items that can drastically affect their future credit scores if not managed properly. Students need to learn what to watch out for and to carefully read the contracts they sign for short-term benefits. Financial illiteracy crosses all borders and is a global problem. Here is a great article from Canada that addresses this very issue.