Most young people who are just starting out are facing an uphill battle against debt. Credit cards, student loans and car payments are just a few of the items that young people are facing nowadays.

Credit cards are the number one cause of debt for people age 18-30. It starts in college with card number one, which then progresses into five or six credit cards to buy new clothes and beer. The average college student graduates with an average of $4500 in credit card debt. This situation is multiplied by higher interest rates on those college cards.

Credit card companies, the smart people that they are, lesson the restrictions on college students getting credit cards in exchange for charging a higher interest rate on those cards. One of the first things young people can do is try to find lower interest credit cards. Sites, such as http://creditbus.com, allow users to search for and apply for low interest credit cards. By obtaining a lower rate, card holders can get more principle paid off sooner.

One other young debtors can find relief is to set budgets. Card holders need to find out how much they can afford to put towards their credit card debt, and then such sites as CNN’s debt reduction planner (http:// cgi.money.cnn.com/tools/ ) can help them distribute the money to the cards in such a way as to reduce the debt as fast as possible.