7. Credit cards. With student-loan debt skyrocketing, Campbell says college students don't need the added burden of credit card debt. "Most of them do not have an income to pay off these credit cards," he explains. "They can establish their credit once they get out of college and have a job." Instead of getting a credit card, he suggests using a debit card and if parents are paying for living expenses, transferring money on a regular schedule. "I think it's a great time to learn how to live within a budget," he adds.