Comments on: Credit card debt and water http://ipickuppennies.net/2010/03/credit-card-debt-and-water/ Just another WordPress weblog Wed, 08 Feb 2012 11:23:46 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Catseye http://ipickuppennies.net/2010/03/credit-card-debt-and-water/comment-page-1/#comment-2779 Catseye Sun, 06 Jun 2010 17:53:56 +0000 http://ipickuppennies.net/?p=1143#comment-2779 NOBODY, including mom and step-dad, really bothered to explain money and how it works to me while I was growing up. Mom was never in debt over her head but that was because she wasn't frugal so much as just stingy. The only thing step-dad knew to do with money was spend it. Anyway, when mom, then divorced and unable to work, ran out of savings a few months before she could start collecting SS, she was dependant on me and her brothers to pay her bills. That was a huge wake-up call for me, because I realized I was $9500 in CC debt and that was not good for someone in my income bracket. I finally got started on my financial education. Financial ignorance is one of the main causes of this recession. Money handling and investing need to be taught in school, middle school at the very latest. Of course, that's not going to help everyone but it definitely would have made an impact on me. NOBODY, including mom and step-dad, really bothered to explain money and how it works to me while I was growing up. Mom was never in debt over her head but that was because she wasn't frugal so much as just stingy. The only thing step-dad knew to do with money was spend it.
Anyway, when mom, then divorced and unable to work, ran out of savings a few months before she could start collecting SS, she was dependant on me and her brothers to pay her bills. That was a huge wake-up call for me, because I realized I was $9500 in CC debt and that was not good for someone in my income bracket. I finally got started on my financial education.
Financial ignorance is one of the main causes of this recession. Money handling and investing need to be taught in school, middle school at the very latest. Of course, that's not going to help everyone but it definitely would have made an impact on me.

]]>