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Valued Member
Posts: 32
Registered: ‎07-25-2008
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Re: If you could start over what would you do different?

First off..I would have never ever gotten Married, bought a house, had a baby and got a divorce  in a 2 year span.  Furthermore I would have never opened the 16 CC that I thought I needed for my ex husband and myself.   I would have paid all of my bills on time every single time and put off the extravagance of all things humanly possible b/c I would know this does not make oneself happy!! 

 

Live and learn they say??   Well, I'm surely livin' and learnin' everyday!! 

 

Thanks for all the support, ya'll are always here when I need ya! Smiley Happy

 

Lil_bo

Just a little reminder.....sometimes these boards get a little confusing but we are all here to help each other not make things more difficult, you can only Do what's right for YOU, not what everyone else thinks is right for you! Love you guys!!! Smiley Wink
Regular Contributor
Posts: 212
Registered: ‎01-09-2012
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Re: If you could start over what would you do different?

Personal finance and credit building should seriously be a required class in high schools all around the country. If you don't know how to manage money or respect the importance of maintaining good credit before you get offered that first credit card at 18 years old, I don't care what you end up doing as a profession or how much money you make, bad credit doesn't discriminate! All it takes is one missed payment.

 

I wish I had the sense and knowledge back then that I have now. I'm still trying to figure out a way to teach my kids these things while they're still young.


Starting Scores: EQ 582 TU 584 EX 615 (FICO - Lender Pulled) 1/4/2012
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Established Contributor
Posts: 977
Registered: ‎02-08-2012
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Re: If you could start over what would you do different?


esme wrote:

Personal finance and credit building should seriously be a required class in high schools all around the country. If you don't know how to manage money or respect the importance of maintaining good credit before you get offered that first credit card at 18 years old, I don't care what you end up doing as a profession or how much money you make, bad credit doesn't discriminate! All it takes is one missed payment.

 

I wish I had the sense and knowledge back then that I have now. I'm still trying to figure out a way to teach my kids these things while they're still young.


Great point.  I really think this needs to be a class for every Junior, and perhaps even a second class for Seniors.  Why do we teach economics (useless to most students) but not personal finances?

 

I will be sure to teach my children what I was not taught.  The best way to start is to lead by example.  I also think as your children get older, you need to show them how you take care of bills, how you use and manage credit, etc.  Also, giving them an AU card (if you think they are responsible enough) and letting them be a part of paying the bill, etc could be helpful.  These are just some ideas I'm kicking around for my future kids that aren't even conceived yet, ha.

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Established Contributor
Posts: 866
Registered: ‎09-22-2011
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Re: If you could start over what would you do different?


jimbo831 wrote:

esme wrote:

Personal finance and credit building should seriously be a required class in high schools all around the country. If you don't know how to manage money or respect the importance of maintaining good credit before you get offered that first credit card at 18 years old, I don't care what you end up doing as a profession or how much money you make, bad credit doesn't discriminate! All it takes is one missed payment.

 

I wish I had the sense and knowledge back then that I have now. I'm still trying to figure out a way to teach my kids these things while they're still young.


Great point.  I really think this needs to be a class for every Junior, and perhaps even a second class for Seniors.  Why do we teach economics (useless to most students) but not personal finances?

 

I will be sure to teach my children what I was not taught.  The best way to start is to lead by example.  I also think as your children get older, you need to show them how you take care of bills, how you use and manage credit, etc.  Also, giving them an AU card (if you think they are responsible enough) and letting them be a part of paying the bill, etc could be helpful.  These are just some ideas I'm kicking around for my future kids that aren't even conceived yet, ha.


Amen!

Valued Contributor
Posts: 1,206
Registered: ‎02-19-2012
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Re: If you could start over what would you do different?

Not to makefun but if they aren't even conceived yet shouldn't you be daydrmng about ...................Smiley LOL


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Posts: 408
Registered: ‎03-16-2012
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Re: If you could start over what would you do different?

I would have never purchased a house in a state that required me to use an attorney. Attorney was friends with seller and I got a really bad deal. By bad deal, I mean that the house had no access to water and there was no way to get clean drinking water. Attorney, relative of seller on health department, and so on all helped with cover up. Lived there for 3 years using a gallon of bottled water to sponge bathe with. Finally lost my job and saw the light, filed for bankruptcy to get out of no win situation.

 

Husband is buying a house now and I am checking everything myself. I should have waited to buy until I was in a state that didn't require 2 middlemen, a realtor and an attorney.

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Established Member
Posts: 20
Registered: ‎03-23-2011
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Re: If you could start over what would you do different?

I wouldn't have co-signed on a car for a relative over the phone, without any knowledge of what was even going on. And, I would have said no to a girl who asked me out...which ended up getting me so far in debt that now I troll myFICO forums for solutions.
Established Contributor
Posts: 536
Registered: ‎02-27-2012
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Re: If you could start over what would you do different?

I would have made sure that I honored all of my obligations and done whatever it took to keep my accounts from defaulting. I had ok credit before (650 or so) and t was getting better every month, and it only took about 9 months to go from that into the 400's. My family got into a pinch and we felt helpless, so we decided to say "oh well" to our obligations. We are still paying the price for what happened, and we lived w/o credit (except for our house) for 4 years, but now we are realizing that the world really does revolve around the many types of credit.

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Valued Contributor
Posts: 2,285
Registered: ‎09-16-2011
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Re: If you could start over what would you do different?

Open a American express card in 1986 or so... keep open for 3 months,  close the account in good standing, do it again in1995,  again in 2004 and today i would two or more AMEX cards back dated to 1986... oldest cards would be 26 Years old, and AAoA would be helped by 52+ years of back dated amex cards...  Smiley LOL

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Established Contributor
Posts: 715
Registered: ‎08-26-2011
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Re: If you could start over what would you do different?

My two biggest makes where decisions I made as a 24-year old back in 2004 and 2005. One, I defaulted on my Gas bill. This lead to a gigantic debt ($2,200.00) and THREE negative trade-lines on my CR's. First, the OC (peoples gas), second the first CA (harris & harris), and third the second CA (IC System). It took me multiple years to pay the debt and a lot of action to have the tradelines removed.

 

And the other big mistake I made was my Orchard Bank charge-off from 2005. It has haunted me for many many years and in many ways prevented me from living a high quality of life.

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