February 2, 2009

CHCH Live at 5:30 Monday

Tune in at 5:30 tonight (repeat 11:30) on CHCH 11 - kids and credit - is it time to make learning about money mandatory?


Anonymous Anonymous said...

I just wanted to say I totally agree on this amazing idea,kids really need to learn and understand how credit can be a dangerous game! Learning the basics of financial planning in a overloaded in debt society is so important! I have two daughters 22 and 19 whom both have credit cards! - Chantal Weaver, Burlington.

February 02, 2009 4:01 PM  
Anonymous Anonymous said...

Kids graduate now with student loan and credit card debt out the wazoo, and a great opportunity to screw up their credit rating for years to come. Just miss a couple of payments, and when they go to get a car loan or mortgage, it comes back to bite them.

February 02, 2009 4:17 PM  
Blogger Lorraine said...

What makes me crazy is that it's often the universities and colleges that are selling the kids' names to the credit card companies, and making a commission off of every application filled out.

And guess who often sponsors this 'fund raiser' - usually the alumni organizations. Talk about eating your young.

February 02, 2009 4:31 PM  
Blogger DJW said...

I'm on the fence here.

Yes, young people need to learn about credit, very few of them are going to be able to afford post secondary without it.

What amazes me is the ease at which they can get it.

I know of a 17 year old that went into a music store in Burlington, and walked out with $2000 instrument, on credit, without a parents authorization.

The upside of this, at least the credit was on something that will appreciate in value, rather than on a 18% Mastercard or a 8 year old Neon.


February 02, 2009 4:53 PM  
Anonymous Anonymous said...

The greatness of the Capitalist Western World is it not? Is this not one of the reasons for this economic recession, Greed? The need to be better than the next guy, that drives the need too out do the other, buy shit we don't even need, on credit with no regard to the consequences, blind for the most part? Skies the limit with debt anymore, and with most of you, I agree, it has to change. As it stands, there isn't a thing out there that people cannot buy if they shuffle the finances, and the sad part is, the institutions will give them the money. D'oh!!!...


February 03, 2009 7:22 AM  

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