Money Matters

[Schneed10]

Originally Posted by firstdown

You just made a great argument for privatising part of Social Security.

Yes exactly. Privatizing social security is a brilliant idea. Too bad dumbass George W is too much of a moron to convince anybody.

People are resistant to privatizing it because they A) they view the investments as too risky (which is retarded, it would be mostly US Stocks and Bonds) and B) the financial literacy in this country is retarded. Hardly anybody understands the power of saving money and managing it properly. Personal budgeting and personal finance should be a required course in high schools.

Enough political venting. We're here to share knowledge in a judgment free forum. You hear business people say all the time that "time is money." They're right. So if you take your money, and you put it to work over time, you end up with a lot more money. Pretty much that simple. The earlier you start saving, the better off you are.

[MTK]

Originally Posted by Schneed10

Personal budgeting and personal finance should be a required course in high schools.

I completely agree.

More 'life lesson' type of classes need to be taught at earlier ages. I know when I hit 18 and I got my first credit card I had no freaking idea how to manage my money responsibly. I had plenty of friends who were even worse than me. I think by 20 we all had pretty significant credit card debt ($1,000 or more).

It took me until just a few years ago to finally erase all of my credit card debt.

[Schneed10]

Originally Posted by Mattyk72

I completely agree.

More 'life lesson' type of classes need to be taught at earlier ages. I know when I hit 18 and I got my first credit card I had no freaking idea how to manage my money responsibly. I had plenty of friends who were even worse than me. I think by 20 we all had pretty significant credit card debt ($1,000 or more).

It took me until just a few years ago to finally erase all of my credit card debt.

Yeah, college students pretty much fall victim to this trap all the time. So many of them haven't been taught about the dangers of debt. And of course, being away from home and parents for the first time gives you a sense of freedom. And being 18 or 19 years old, people usually have a sense of invincibility, like nothing bad is ever going to happen to me. Combine all that together and you get a lethal mix when it comes to debt. Credit card companies prey upon it; you can probably all remember your college days and having credit card companies set up a table in the commons or the cafeteria where you could just stop by and sign up for a credit card.

It's dangerous, especially for females who like upscale shopping. Some end up with debts requiring monthly payments equivalent to the rent for a 2-bedroom apartment.

Credit cards are a terrible temptation.

[firstdown]

Originally Posted by Schneed10

Yes exactly. Privatizing social security is a brilliant idea. Too bad dumbass George W is too much of a moron to convince anybody.

People are resistant to privatizing it because they A) they view the investments as too risky (which is retarded, it would be mostly US Stocks and Bonds) and B) the financial literacy in this country is retarded. Hardly anybody understands the power of saving money and managing it properly. Personal budgeting and personal finance should be a required course in high schools.

Enough political venting. We're here to share knowledge in a judgment free forum. You hear business people say all the time that "time is money." They're right. So if you take your money, and you put it to work over time, you end up with a lot more money. Pretty much that simple. The earlier you start saving, the better off you are.

Bush did not stand a chance with all the organizations, media, democratic party, AARP ect.. which went on a media frenzy to scare people from the idea. Even if you only used CD's to save money it would do better than SS. I agree with that financing should be required in high school.