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Super Contributor
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Registered: ‎10-03-2008
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Re: Do you give friends/family credit advice?

[ Edited ]

My findings are the same.

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Re: Do you give friends/family credit advice?

Yeah, I've found most people to be the same also. Lazy when it comes to doing what's best for their finances. I don't give advice unless people ask. Or are complaining about interest rates, then I can quickly chime in "well you know, you could always shop around for better rates, it wouldn't hurt..." But do most people? Naw. I actually have one friend who wants to set up a night with me to go over her credit report and credit. She had a bunch of medical collections on it that should be falling off soon, and doesn't own any credit cards (Not sure if she ever has, at age 30). So I'm actually excited to sit down and try and help someone be better about their finances and building good credit.

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Re: Do you give friends/family credit advice?


EndersRapture wrote:

Yeah, I've found most people to be the same also. Lazy when it comes to doing what's best for their finances. I don't give advice unless people ask. Or are complaining about interest rates, then I can quickly chime in "well you know, you could always shop around for better rates, it wouldn't hurt..." But do most people? Naw. I actually have one friend who wants to set up a night with me to go over her credit report and credit. She had a bunch of medical collections on it that should be falling off soon, and doesn't own any credit cards (Not sure if she ever has, at age 30). So I'm actually excited to sit down and try and help someone be better about their finances and building good credit.


I agree that laziness is a big factor. But I also think other factors come into play.

 

Some people are too proud to admit they don't have all the answers and others are too embarrassed about their situation to ask for help.

 

I have suffered from both pride and embarrasment!!  Smiley Embarassed  Smiley Sad

Super Contributor
Posts: 8,863
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Re: Do you give friends/family credit advice?


MarineVietVet wrote:

EndersRapture wrote:

Yeah, I've found most people to be the same also. Lazy when it comes to doing what's best for their finances. I don't give advice unless people ask. Or are complaining about interest rates, then I can quickly chime in "well you know, you could always shop around for better rates, it wouldn't hurt..." But do most people? Naw. I actually have one friend who wants to set up a night with me to go over her credit report and credit. She had a bunch of medical collections on it that should be falling off soon, and doesn't own any credit cards (Not sure if she ever has, at age 30). So I'm actually excited to sit down and try and help someone be better about their finances and building good credit.


I agree that laziness is a big factor. But I also think other factors come into play.

 

Some people are too proud to admit they don't have all the answers and others are too embarrassed about their situation to ask for help.

 

I have suffered from both pride and embarrasment!!  Smiley Embarassed  Smiley Sad


Hear ya ... then I think you did not reach FICO Scores of 850 by being shy or embarrassedSmiley Happy

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Re: Do you give friends/family credit advice?


MarineVietVet wrote:

masscredit wrote:

When I'm interesting in something I throughly research it. Not only is credit and my scores benefical to my financial life,  I also consider them a hobby and like to think that I am fairly knowledgeable and able to give informed advice.  I don't know it all, there is always something new to learn. With that said, I sometimes pass along what I know to friends and family members that might be able to use the advise. For example, one friend has an interest rate that is "ok" but not the best. If I remember correctly it's 4.9 or 5.9%. So I suggested that he use the credit union that I use (DCU). He should be able to qualify for a rate that is under 2% plus get a free EQ score each month. Did he? Um... no. Then he bought a new car a few months ago and let the dealer take care of his loan again. They are probably buying the loan cheaper and making a few points on the deal. Oh well, I tried. I have a family member with some credit issues. I layed out a road map for her to follow to improve her credit. She took some advice but not much. I did the same for a friend. It took him awhile but he started to follow what I said. He also took a couple of detours from that which set him back.  Like they say, you can lead a horse to water but you can't make him drink. 

 

 

 


I might mention a few things here and there but like you I have found many people don't want to hear about it or give up too soon because "It's just too much trouble".


I try here and there as well and you might as well explain rocket science.

 

Heck, I don't even follow half the little "fool the computer" tricks which would likely push me 700 on my two best looking CRA's

EX FICO  26 INQ  761
EQ FICO  10 INQ  756
TU FICO  12 INQ  770
Total CL$340,00033 TL
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Re: Do you give friends/family credit advice?

I try to. BUT it is difficult to do so when no one is listening to me, especially when I have WAY better credit than anyone else in my family. My friends I don't dish advise to unless they ask. They mostly listen to their families, and I can't compete with someone's family.
EX FICO 08: 780 ll EQ FICO 08: 787 ll TU FICO 08: 775 As of 3/13/15

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Re: Do you give friends/family credit advice?

I've been starting to keep notes file with some suggestions. I add things as I go along then do a quick copy/paste if I want to share those suggestions with someone I know.
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Valued Contributor
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Re: Do you give friends/family credit advice?

It’s those who aren’t ready to listen when they need to versus those who give advice when they want to. No wonder it doesn’t work. Both like what’s easy. Neither listens.

There may be three reasons why people don’t listen to reason: they can’t understand (stop pushing them), they don’t want to understand (push them), they shouldn’t understand (cut ties).

Meanwhile, Humans crave the opportunity to give advice and offer tips. Take social sharing. People build their online identities by sharing. They want people to think of them a certain way.

I am not one of them. It’s about my fingers getting their daily exercise.

 

Established Contributor
Posts: 543
Registered: ‎08-09-2009

Re: Do you give friends/family credit advice?

Lol! I talk to people about credit all the time!! I am in what I call  credit recovery, in recovery, I think that it is important to admit where you came from, talk about where you're wanting to go and telling people things that you didn't know and they may not know about credit.



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Re: Do you give friends/family credit advice?

I love giving advice, but they make fun of me because I start talking fast and they can tell I'm way too excited.  LoL  Adrenaline rush!

Starting Score: Ex: 495 Eq: 492 Tu: 497
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