Although many students look forward to the holiday season, they need to be aware of the financial risks that come at this time of the year, warned the Federal Trade Commission.
According to the FTC, there are a lot of things to consider when shopping during the holidays. For example, a sale doesn't always save money.
"If you don't really want or need the item, it's not a deal," said an FTC spokesperson.
Marketing junior Amy Byrne said it's hard to go to the mall and not head to the "free" counters.
"I always fall for those sales that say you get a free gift with the purchase, even if I know I'll probably never use it," Byrne said.
To buy gifts for loved ones usually means working extra hours and saving money.
However, some people take the easy way out by using a credit card. While they are convenient, credit cards can get people in financial trouble.
According to the FTC, having a credit card means being responsible.
"If you continue to charge [your credit card] while carrying an outstanding balance, your debt can snowball," said the FTC Facts for Consumers publication.
Finance sophomore Bill Kamboukos said because of credit card debt, he has experienced the nuisance of their convenience.
"I made the mistake of getting a credit card the minute I turned 18," Kamboukos said. "Not only did I max it out, but I will eventually pay probably twice what I spent."
Reach the reporter at jennifer.summers@asu.edu.
