UK consumer debt is more than double that of other Europen nations according to a report released today from Datamonitor. Excluding mortgages, the average Briton has £3,175 of debt, the equivalent of $6,040. The average European meanwhile owes just £1,558, or $2,964. (Source: BBC News)

It should be noted however that these figures still pale in comparison to U.S. consumer debt, which, seasonally adjusted, reached $2.3 trillion in July, or $7,856 per American, more than $1,800 more than the average Briton. (Source: Federal Reserve Bank)

Reuters has published a credit card advice article for college freshman. It is very common for those who leave home for the first time to need some extra money. Therefore, credit card companies go after the college student market, attempting to lure cardholders with extra incentives in hopes that they may become lifelong customers. But college students should practice sound personal finance judgment when it comes time to deciding on a card and using it.

Linda Stern in Washington writes:

And after a few years, in fact, the average new college graduate holds more than 6 credit cards and owes close to $3,000 on them, according to Credit.com, a credit education and marketing firm.

Read more: Credit card 101 for college freshmen