SectionsGroup encourages debt control, freezing cards
Ashley Christopher
Issue date: 2/22/08 Section: News
A Missouri State student organization encouraged students to take control of their financial future and "Freeze Up Debt" by literally freezing their credit cards on Wednesday.
Students in Free Enterprise handed out coffee, hot chocolate, chips and plastic baggies that included directions for freezing cards in the Plaster Student Union.
Directions instructed students to fill the plastic baggie with two and a half cups of water. The credit card should then be inserted into the water-filled baggie and laid flat in the freezer.
The goal of the program is to make students think twice about whether or not making a purchase on the card is worth building up debt, said Bobby Kelly, vice president of SIFE.
"The next time you're tempted to pay for something with the card, you'll have to think about if waiting for the card to thaw out is really worth it," Kelly, a senior finance major, said.
Also included in the baggie was a list of reasons for freezing credit cards.
These reasons included putting the card out of sight and out of mind, making the card difficult to use, making users think about purchases before they are bought, preventing the spending of future income, preventing exceeding the card's limit and eliminating financial obligations.
Senior biology major Kristin Legg took advantage of the free snacks and baggies handed out by SIFE.
"I don't have any debt, so I'm not planning on freezing my card," she said. "If I did have debt, I would start second guessing my purchases, though."
English professor John Turner agreed with Legg, calling credit cards "evil."
"I don't carry credit cards or use them," Turner said, "but I do believe in this program."
SIFE graduate assistant Laura Zirfas said the program also served as prevention.
"If nothing else, we're trying to create awareness about debt that can come from credit cards," she said.
The organization also offered students a chance to enter a drawing for a $10 Ruby Tuesday gift card.
According to SIFE's Web site, the organization strives to develop community service outreach projects that reach SIFE's five educational topics: market economics, success skills, entrepreneurship, financial literacy and business ethics.
Students in Free Enterprise handed out coffee, hot chocolate, chips and plastic baggies that included directions for freezing cards in the Plaster Student Union.
Directions instructed students to fill the plastic baggie with two and a half cups of water. The credit card should then be inserted into the water-filled baggie and laid flat in the freezer.
The goal of the program is to make students think twice about whether or not making a purchase on the card is worth building up debt, said Bobby Kelly, vice president of SIFE.
"The next time you're tempted to pay for something with the card, you'll have to think about if waiting for the card to thaw out is really worth it," Kelly, a senior finance major, said.
Also included in the baggie was a list of reasons for freezing credit cards.
These reasons included putting the card out of sight and out of mind, making the card difficult to use, making users think about purchases before they are bought, preventing the spending of future income, preventing exceeding the card's limit and eliminating financial obligations.
Senior biology major Kristin Legg took advantage of the free snacks and baggies handed out by SIFE.
"I don't have any debt, so I'm not planning on freezing my card," she said. "If I did have debt, I would start second guessing my purchases, though."
English professor John Turner agreed with Legg, calling credit cards "evil."
"I don't carry credit cards or use them," Turner said, "but I do believe in this program."
SIFE graduate assistant Laura Zirfas said the program also served as prevention.
"If nothing else, we're trying to create awareness about debt that can come from credit cards," she said.
The organization also offered students a chance to enter a drawing for a $10 Ruby Tuesday gift card.
According to SIFE's Web site, the organization strives to develop community service outreach projects that reach SIFE's five educational topics: market economics, success skills, entrepreneurship, financial literacy and business ethics.
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