College Students Mastered Early Credit Hacks

Gen Z Faces Similar Financial Puzzles Decades Later

A savvy college student in the 1970s found a resourceful way to manage tight finances, a tactic that highlights how young people have always sought creative solutions to financial pressures.

Early 1970s Sears Card Strategy

Unable to obtain a traditional credit card as a broke college student in the early 1970s, one individual discovered a unique method to stretch limited funds. Their older brother advised them about Sears’ policy of issuing store credit cards to students.

“As a broke college student, I couldn’t get a credit card, and I got a monthly check, so things got tight during the month (this was in the early ’70s before debit cards). To help me out, my older brother taught me this: Sears would issue a store credit card to college students.”

—u/ez_as_31416

The student would purchase a Sears gift certificate using the newly acquired store credit. They then used this gift certificate for necessities like socks, receiving the remaining balance as cash. This allowed them to extend their limited funds further.

“I would then use the gift certificate to buy a couple of pairs of socks, and then they gave me the rest in change. $30-35 went a long way back then. At the end of the month, I would pay the bill, then rinse and repeat. I kept (and used) my Sears card for many, many years.”

Modern Financial Challenges for Students

Today, while debit cards are commonplace, college students still grapple with managing expenses. A recent study indicated that 82% of college students reported experiencing financial stress, often stemming from the gap between income and living costs.

Echoes of Past Resourcefulness

This historical anecdote from **u/ez_as_31416** resonates with contemporary student financial strategies. Though the tools have evolved from store gift certificates to digital payment apps and student loan management, the underlying need for creative budgeting and resourcefulness remains a constant for young adults navigating financial independence.