Straight Talk on Debt: Financial Lessons for Young and Old

A Straight Talk on Debt

A Straight Talk on Debt gives you the real deal on debt, straight from our employees and personal finance experts. Learn more about debt relief plans and how to be financially fit.

Straight Talk on Debt: Financial Lessons for Young and Old

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Yesterday I wrote a guest post @EnemyofDebt entitled, The Lost Subject: Personal Finance. The post brings to light the fact that personal finance education is still not being taught in most schools or at home. As a society we can continue to place blame, but who is really suffering? Financial Lessons for the Young & Old

The unfortunate fact of the matter is that most of us have made financial mistakes, some of us have learned from them, and then there are a few who continue to repeat them. If we want to stop the cycle of poor financial decisions, mountains of debt, and inadequate savings for our future generations then we need to take action. This week's reading has some excellent financial education for the young and old-be sure to share!

Teach Your Children

  • How a Lie is Helping Me Save for Retirement @sooverdebt "Now that I'm angry and the precedent is set, I'm looking forward to Jayden's future contributions to my retirement savings. I'd like to think this incident will cure him, but I know that liars often take time to reform. So I informed him of my other plans to help him conquer his filthy habit." 

  • Know Your Student Loans Before Your Debt 'Bomb' Explodes @jefferytrull "A recent Bloomberg article states, "Student Debt Could Be Next 'Bomb,' according to U.S. Bankruptcy Lawyers." Yikes, that is a scary proposition but one that is a reality for millions of students who have completed their higher education and have hefty loans to pay back." 

  • Spending Money On Kids @Money_Reasons "Much like adults, if the instant gratification factor is ignored, a kid (or person) will find that the item they wanted to spend money on will lessen with time. So I'll wait until next week, and then if he still says he wants to spend the two dollars I'll let him. But honestly, this will probably be the last I hear about the matter." 

Teach Yourself 

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  • Great advice.  Thank you for sharing.

  • What a good read.  Especially since I did  believe you had to have a good credit score to obtain a mortgage.  This gives me something to think about ;-)

  • I meant to rate this a five. Great Blog!

  • Definitely a lot of straight talkers in this group. Thanks for including me!

  • @WorkingBoomer Glad it was helpful :)

    @mdavis1964 Glad you enjoyed and there are many things that affect your ability to get a mortgage--credit score is not the only factor.

    @StephRabara Thanks for the thunbs up--I really appreciate it!

    @John Straight shooting is always the best way to provide information--no sugar coating!

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