Archive for November, 2008
Should Financial ED be required in high school?
Posted November 28, 2008 by Bernz
Should high schools require students to take Financial Ed and should there be a requirement for students to pass a financial ed course before they graduate? Would financial education be more practical than learning Algebra and Calculus? I mean if public schools can require students to take foreign language courses, shouldn’t they require them to spend the same amount of time learning about financial management?
My thinking is if students come out with more financial knowledge they can learn the value of investing and the responsibility that comes along with spending.
High school students make buying choices even if they don’t have significant buying power. And as soon as they turn 18 or step foot on a college campus they are faced with credit card offers. Yet have they been taught anything about avoiding fee traps, how to choose the best credit card deals and ways to protect a low interest rate? Likely not. Are young adults knowledgeable about purchasing cars or starting a savings plan? Likely not. (more…)
Popularity: 21% [?]
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Tags: financial education, high school
Posted in Misc | 4 Comments »
Recession Purgatory? Is there a way out?
Posted November 26, 2008 by Bernz
The folks on Wikipedia define recession as a period of reduced economic activity. They go onto say that an extended period could transform into a depression. Other definitions define the economic condition as a point in time when GDP falls, businesses stop expanding, housing prices drop and unemployment escalates (speculation is that 1 in 10 Americans could be out of work in the very near future). Sound like the sign of the times? Are we all about to face the Grapes of Wrath? Click the link to see a video clip of the original movie.
In spite of all the sour news, I’m keeping a positive attitude. The outcome of the recent presidential election has a lot to do with that. But folks, I’m also a realist.
Lately I’ve been posting on things we can do to cope with turbulent economic times. Things like saving, planning ahead, and investing our time, money and energy on things that are vitally important: think health, education, and our financial future. (more…)
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Tags: depression, recession, Saving
Posted in Financial Education | 1 Comment »
FICO Fitness Fundamentals
Posted November 25, 2008 by Bernz
A FICO score is the number that determines the interest rate you pay on credit cards, car loans and mortgages. It also determines whether or not your application is approved for an apartment or whether or not you qualify for a cell phone plan. Your FICO score can even affect your ability to get a job. Your FICO score is based on a calculation from the history in your credit reports from these three major credit bureaus: Equifax, Experian and TransUnion.
The FICO score is linked to just about every financial step you take. Basically it boils down to being a number representation of your past and current spending and bill paying habits. For this reason it’s critical you learn your FICO score and that you manage it well.
High FICO scores represent good credit and low FICO scores are associated with poor credit. Your goal should be to keep your score in the 720 to 850 range. (more…)
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Tags: credit score, fico score
Posted in Misc | No Comments »
Why I think Thanksgiving and wealth are synonymous
Posted November 24, 2008 by Bernz
I guess if you were to look at the history of Thanksgiving you’d focus on the pilgrims and Native Americans sharing turkey parts.
I’m one who’s all for tradition especially when it comes to holidays (particularly the eating part), but the state of our economy will force many families to celebrate this holiday season much differently.
Take my own family for instance. This year instead of one family hosting the meal where typically the head of the household (think mom) does all the cooking, we’re having a buffet. Really, there’s no telling what our dinner menu will look like. I’m just hoping that surely someone will bring stuffing, mashed potatoes, corn bread, and collards.
Another change for me this year is that I’m not rushing out to purchase any big ticket items. I also don’t plan to use my credit card, which means that plenty of people expecting gifts will have to wait until after Christmas—when all of the items that are left over get final mark downs. (more…)
Popularity: 14% [?]
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Tags: thanksgiving
Posted in Misc | 1 Comment »
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