On 10/13/2011 9:20 AM, Puckdropper wrote:
Leonlcb11211@swbelldotnet wrote in news:VtidnT_
:


As do I, actually my credit cards, as do probably yours do, actually
pay me to use them. And that works for every one providing they pay
them off every month.

I believe this country would be a lot better off if our kids were
required to take and pass simple finance classes before graduating. Or
you must pass a basic understanding of finance charges and their real
impact before qualifying for a credit card, controlled by a 3rd party.


It's called "consumer's education" and required at least as part of the
IL high school curriculum. They covered the busywork of balancing
checkbooks (the pivot should be near the middle) and filling out tax
forms (using a cheap bic ballpoint because a good one was the wrong shade
of blue (purple)), and something was said about credit cards (I don't
remember).

Parents will have the biggest impact on their kid's spending habits, not
schools.


Agreed the parent absolutely have the biggest impact however a majority
of the parents don't know them selves.



Granted some teachers will have an impact. Especially those who are
cynical and point out the only way to win is to play very carefully.

I played that credit game up until 1986 when I bought my first PC. The
first thing I did was determine how to pay our house off as quickly as
possible. We refinanced out home in 1987 and after paying off our two
vehicles and some land that we owed on began putting an extra $300 per
month towards our house payment in 1990, 6 years later we were debt free
and have remained so ever since. We use a credit card for monthly
purchases but those are paid in full monthly. We paid cash for our new
house in December.