...or are some of the q's in this forum absolutely ridiculous? Far too many young people with credit cards...using them on spammer sites, buying junk & having their #'s compromised, just totally clueless about credit, what it is for & how and where it should be used.
There should be a course in this in every single High School - everywhere - a pass or fail grade, and you cannot graduate until you pass.
I wish they'd have had this when I was in HS as well, but with the internet...that opened up an entirely new group of scumbags just waiting to live off someone else's credit & cash, and far too many young people just don't get it. They jump into the fire thinking they are smart & "it can't happen to me". Then they end up here....
I guess this was more of a vent than a question. And I am not categorizing all young people together, so please don't slam me for that. There are even a lot of adults that make stupid mistakes with their $$, but I'm just saying that just because you have a pulse & an income, that shouldn't just open you up to the credit card offers.
That's all.
Anonymous2010-08-31T08:05:04Z
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Young people as well as adults are equally stupid when it comes to CC, being conservationist, and being frugal.
I know, I married one, and I can't believe I didn't see all the warning signs when I said "I do!"
As far as being polite, kind, & loving, he's OK. But he is the most wasteful person, I feel like I have to keep re-training him every time!
Well, it is certainly unfortunate that a lot of forum questions are about very simple aspects of credit and money management overall, like debit cards and interest rates. However, that's what we are here for.
Hmm., well I don't think there should be an entire class just for learning about credit. However, I do agree that learning about credit should be taught in a particular class as a week's subject or something. I had a class in high school called Independent Living, which was a prerequisite for graduation; this would have been the perfect class to learn about credit in.
However, I think parents should teach their children about credit, especially since there is a lot of incorrect information out there. Parents have the ability to research and make sure that their kids know accurate information. I have often said in real life that parents should have a credit talk with their kids, just like the sex talk. Credit is an integral part of life.
I also think that a lot of people, definitely teenagers but adults too, think they are immune or they can somehow avoid consequences. Part of this is from thinking that credit is their money and not borrowed money. This is no way to go through life.
During the 90s and early 00s, anyone with a pulse and an income could get a mortgage too. And now we have a credit crunch and an economic downtown. People definitely need to learn to be responsible and understand the consequences of their actions.
I think a lot of young people (and older as well!) think of credit cards as *free money*. They aren't looking at the bigger picture until it hits them down the road and they cannot buy a car, house or they become a slave to judgments or collection agencies. I have seen some questions here where people don't think anything of just stopping their payments altogether because they don't have money for *fun things and to just live life* anymore! LOL
I agree --- in this day and age, there should be some sort of course in high school that teaches the kids how to open up a bank account, how to use a checking account/check register wisely, about NSF fees, loans, credit cards and how to use them to your advantage. Unfortunately, I guess schools aren't hip to that just yet, or do not have a teacher who isn't in debt themselves or accredited to teach these things. LOL Heck, they did away with drivers ed in schools...back in my day, that was part of the curriculum..you learned to drive AT SCHOOL! LOL
By the way, I own a small bungalow too! I love it! Was built in 1905. I always enjoy seeing your pic here in the answers!
You're right - the level of basic financial ignorance is staggering. I can't believe how many people can't write a check, balance their checking account or even know the difference between a checking and savings account. They don't even know if they're using a debit or credit card. It's sad.
Yes, I agree that financial management should be taught in school -- but even before high school. Not just about credit, but basics like budgeting, bank accounts, and payroll deductions.