Public Service Announcement - Financial Literacy Survey

[Farmer Kitty]

Quote:
How true!
It is possible to live in this country and not be so far in debt that you can't see your way out! We own free and clear our farm, cattle, machinery, truck, and hunting land. The only thing we have a loan on is our van we bought in December. It will be paid off in two years or less. We live with what we need not what we have to have to keep up with the Joneses. DH's sister and her husband went into big debt remodeling their house and thought we were nuts to do ours a little at a time. Then they had a health emergency and now have trouble paying thier bills. They see that it may take us longer to remodel than it did them but, we own it free and clear and don't have to worry about being able to make payments.

 

[quadcam79]

one of the big problems and I'm not sure how true it is today. When I was in school we were never required to take any type of personal finance class. SO you have kids who turn 18..or even before that are plastered with credit card offers and got out and spend themselves into bankruptcy because they dont know any better. I know that from personal experience.

I think personal finance classes should be mandatory in high school

 

[quadcam79]

Quote:
you sure you arent from S.C. ?

in case you missed it

 

[Reinbeau]

I agree with the first two answers (and got them right) but totally disagree with the third - then again, I'm not a typical uninformed American buying mutual funds. I made enough money in the stock market to be able to pay off my house when the divorce happened - all with studying and investing in stocks I knew about understood. It isn't hard, and it only takes a bit of time once you're up and running. But if you can't find America on a map, I think you'd better leave it up to the pros!