Why don’t schools teach basic personal finance skills?
Wouldn’t this be more useful than 99% of what they cram down our throats before throwing us out onto the streets?
shareI couldn't agree more, financial education and work ethic should be a class required all over America and other places where freedom reigns...commies and dictators may disagree but screw them
What's really egregious is when you go to college you get credit cards tossed at you from every direction, Hey little lamb, meet the slaughter!
My cousin committed arson on his credit by his mid-twenties and he certainly wasn't the only case I know of
He was finally able to buy a fine house and big yard two years ago, he's in his mid-40s...20 years later and he works hard too
Credit Cards are bullshit, to be used in EMERGENCIES only
Cash remains The King, if you can't pay for it out of pocket you don't deserve it
I am the banks worst nightmare because I have never paid a penny in interest on a credit card in my life. I have a direct debit that clears the balance on the first of the month. I know exactly how much I have in cash and therefore never exceed this amount. The advantages of using a card in this manner include: -
Having all your purchases protected
Not having to carry too much cash
Collecting various points or air miles
Obviously, if you don’t have the cash, then they’re a disaster.
I'm with you. Credit cards are great tools. I've never carried a balance and I never use cash.
I've been getting cash back and interest-free loans since forever. I love them.
I normally rack up about £1000 a year in Harrods vouchers, plus enough air miles to have a couple of free holidays. Used correctly, credit cards are fantastic.
I use cash for to pay gardeners, plumbers, sparkys etc
I only use cash if cc is not accepted for some reason (which is rare). I can go for months -- or a year -- with only a few dollars in my wallet. I don't even remember that it's there most of the time.
shareThe one thing we don’t do anymore in the UK, is write cheques. Nowadays, if cc isn’t an option, we just BACS money straight from one account to another.
shareyeah, I don't do checks either. Once or twice a year, person-to-person.
shareI think they’ll phase them out here soon.
shareyou do crypto yet? I still find all that too fishy at this point.
shareI say this to all my clients, “as soon as your taxi driver starts talking about where they’re investing, then that boat has already sailed”. I wouldn’t touch crypto currency with a barge pole.
Having said that, unbeknownst to me, a client of mine bought around 5K about ten years ago and cashed it in a couple of years ago for 110K, which he then invested with me (wise fellow), but this is the exception.
I have a friend who dipped his toe in but he didn't get out while the getting was good. But I was just speaking more as a payment method than as a speculative investment.
shareNo, I don’t use it, but then I don’t tend to buy things that take crypto currency, like a lot of the stuff that’s available on the dark web (so I’m reliably informed - ahem!).
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