Wow, Sucky AND Stupid

[Lady Heather]

To smart for a checkbook!

Here Econ is required.
Mine taught me howCredit/loans work, basic budgeting, how to fill out checks, different investment avenues, tax procedures, and what taxes to expect to be taken out... i m sure some people are idiots and dont follow this still....

At my "Boarding School" there were two Math class' you could take. One taught Algebra, the other taught how to balance a checkbook, make a budget, ect., basic money stuff. The School conselor said that the Basic Money class was for the dumb kids that needed it, and put me in the Algebra class. I had to have a friend's Mom show me how to balance a checkbok when I was 19 years old. Because I was to smart for the Basic Money class. I don't remember a thing from that Algebra class either.

[Broomjockey]

At my "Boarding School" there were two Math class' you could take. One taught Algebra, the other taught how to balance a checkbook, make a budget, ect., basic money stuff.

Wow, that sounds like my public school. Only there were a couple math classes. One for "smart kids." One for "normal kids." And the RLS class, (remedial life skills), basically those who were suffering severe learning disabilities and the like. And only the RLS class covered anything remotely resembling econ. Which later sucked for the smart kids who didn't take the accounting class, which covered chequebooks.

[Bright_Star]

Who's stupid enough to think that you get a credit card without making payments on it? Honestly though, with the advent of the internet & all the information you could want at your disposal, saying that you weren't aware that you have to make payments sounds like an attempt at being wishy washy.

[draco664]

Who's stupid enough to think that you get a credit card without making payments on it? Honestly though, with the advent of the internet & all the information you could want at your disposal, saying that you weren't aware that you have to make payments sounds like an attempt at being wishy washy.

Well, this was in '95, a bit before the interweb really took off in Joe Public's mind.

I suppose after 12 years, she may have just finished paying the original debt off...

Draco

[Sliceanddice]

At my "Boarding School" there were two Math class' you could take. One taught Algebra, the other taught how to balance a checkbook, make a budget, ect., basic money stuff. The School conselor said that the Basic Money class was for the dumb kids that needed it, and put me in the Algebra class. I had to have a friend's Mom show me how to balance a checkbok when I was 19 years old. Because I was to smart for the Basic Money class. I don't remember a thing from that Algebra class either.

arizona must be really different, we concider Econ a Social Studies class.
My mom told the schools use to offer basic money, but it was still a class that you had to take, to gradutate, even if you had all of you 4 math credits (i think... my mom was really smart so she may have just taken it to have one easy class while taking trig) so the lazy seniors had to take it with their trig and calc classes, and the smart ones took as freshmen and took trig/calc their senior year.

[SongsOfDragons]

In England we never had anything like that...at least not mandatory. My father showed me how to use Quicken, some computer programme that helped you balance, and a lot of other bank stuff. I have three different accounts (current, online savings, ISA) and I only have a debit card for the first one.

No want credit card...*hides*

[napoleana]

The mass amounts of young people who think credit cards are magic money is the reason why my high school actually semi-required Economics class. (You could get out of it, but only by taking U.S. Politics.)

I can understand not getting how they work. There are a lot of things I've relegated to the realm of "magic" so long as I have enough understand to not screw them up. (Example: How computers work, mechanically speaking.)

But not pay back? Free money? How the hell is the product company or the bank/Credit company supposed to make anything off this deal? Do you really believe that they have NO costs of production and don't have to pay their employees, and EVERY cent you spend on products is profit and therefore can be lost to those consumers savvy enough to get themselves the magic card that is sold to everyone and their uncles' monkey? (Yes, I meant to say it like that.)

I mean, I'm sorry to anybody any of you happen to know who was financially ruined for a while because they didn't know better, but even if you lack the common sense to figure it out yourself, surely mentioning it to ANYONE would shine some light on how the process actually works?

And crying and begging? She just bought these things a few days ago, no? RETURN THEM. Pay of the debt. Then cancel the freaking card and get a job or a sugar daddy.

In England we never had anything like that...at least not mandatory. My father showed me how to use Quicken, some computer programme that helped you balance, and a lot of other bank stuff. I have three different accounts (current, online savings, ISA) and I only have a debit card for the first one.

No want credit card...*hides*

It's not mandatory. The idea that you need a credit card for good credit is a myth. You can build a credit record by using a check card (takes the money directly out of your account) and checks and by getting loans from your bank for the "big ticket" items.

There are a few people who have run into some trouble because they only pay for cash for EVERYTHING, and now want to buy a car/house and don't have a credit record. As long as you have a bank account, have had it for several years, and have been responsible with it, the bank will usually stand up for you. If nothing else, you can get a loan from them instead of the car company.

My dad was a big Dave Ramsey fan, and as soon as he cut credit cards out of his life, he let me know why. Seriously, I heard this rant when I was like 10 and had no idea what a credit record was or why you needed it. I passed Economics with flying colors.

[Alpha Strike]

Draco:

Highly entertaining story. Even though I do feel a bit of sympathy for the girl, I find it hard to believe that anyone in this day and age is dense enough to believe a credit card=free money.

Of course I answer phones all day, so I shouldn't be THAT surprised, but still...

Here Econ is required.
Mine taught me howCredit/loans work, basic budgeting, how to fill out checks, different investment avenues, tax procedures, and what taxes to expect to be taken out... i m sure some people are idiots and dont follow this still....

Excellent idea. Wish that sort of thing had been required, or at least offered, when I went through high school.

[Marxfan]

I don't trust myself with a credit card. Too many tempting online purchases. I've never been in debt... and I plan on keeping it that way.

[Andara Bledin]

Highly entertaining story. Even though I do feel a bit of sympathy for the girl, I find it hard to believe that anyone in this day and age is dense enough to believe a credit card=free money.

When little miss princess has had a credit card for most of her life and daddy has always paid it off every month without requiring anything out of miss princess, it becomes a lot easier to understand why some people have no concept at all of how a credit card works.

^-.-^

[LifeCarnie]

IL: Well?
D: I'm looking at your card now. You've reached your $1000 credit limit. The card is not stopped though, you can use it once you repay it.
IL: <Long pause> Repay?
D: Yes, once you've paid back part of the balance, you can use it again.
IL: I have to pay the money back?
D: <Blinks> Yeeeeeessss.
IL: No one told me!

....Didn't she actually have to REQUEST the card? Yeah, paying 25% interest on cash advances makes much more sense than purchasing products with the card at 12% interest.

Frickin' rocket scientist.

This is the exact reason I don't even want a credit card. A mere debit card is enough for me, and thankfully I know well enough not to use it often and to continually depost cash in my account. I'm a good boy! ^_^

With no credit history!