APPLICANT #3: Chris Sykes

Chris Sykes is a 24-year-old student from Florence.

Here is Chris' video application:

Here is Chris' current situation:

My name is Chris Sykes and I am a 24 years old and live in Florence, Alabama. I am currently a graduate student at the University of North Alabama pursuing my MBA in computer information systems. In my free time I like to play golf, watch movies, listen to music, play xbox, and hang out with my friends. I really enjoy getting out and going to different events, whether it be a concert, sporting event, or what ever may be going on at the time. I like to stay on the go and keep my self busy.

Here is Chris' blog post:

I think one of the major pitfalls that many young adults fall into is not taking into account the consequences of their financial actions. So many people in the 18-25 year old range just say, "I'll put it on the card," when referring to making purchases or paying bills. This does not have to be a bad thing. In fact, I believe with a little knowledge and responsibility most young adults can use credit or debit cards. However, I have seen cases where young people have just signed up for the cards and started swiping away without ever thinking about what they were doing.

The knowledge needed to avoid this financial disaster is easy to obtain. The number one thing that young people need to realize is that they have to pay back what they spend. All it takes is to save a little from every paycheck. The second thing that young people need to learn to do is keep up with the balance on the card to make sure they are not getting in over their head. With just about any credit or debit card the balance can be checked online. These days the internet is everywhere, from desktop computers, to laptops, and even many cell phones can access the internet. Thirdly, young adults need to make sure they understand all the penalties that go along with the different types of cards. They need to understand what will happen if they are late on a payment or they make an overdraft.

In conclusion, debit cards and credit cards can be very advantageous. They can make it possible to buy items or make payments with out always having to keep cash on hand. The three things that I think anyone who is considering or already has one of these cards should keep in mind is: 1) save a little from every paycheck to make the payment or put in the account attached to the card, 2) keep up with the balance on the card, and 3) understand the penalties that can be placed on different actions.

Until next time don't for get to live young and free.

P.S. - don't forget to vote for me to be your Young & Free Alabama Spokesperson.