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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!
Lil_bo
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.
@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.
@Anonymous 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!
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.
Current Cards: Cap 1 Journey $3000, Cap 1 Playstation $2250, WFNNB Store Cards $2450 combined, Target $700, CareCredit $1700, Barclay Rewards Plat. Mastercard $1800, Old Navy $300, DCU Platinum Rewards Visa $2000, Swagbucks Rewards Visa $1000
Starting Score: 615 EQ (03-15-2012) 600 TU (03-21-2012 Barclays app) ) Ch.7 discharged 5/2009
Current Score: 671 EQ (09-27-2014 DCU) 660 TU (9/26/14 Barclays) Ex 688 (10/07/2014 Swagbucks)
Gardening since 9/22/2014
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...
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.