compman, it is well known that minorities get charged higher rates for mortgage loans that whites, and that goes for insurance rates also. Why does that occur other that racism, in the credit and insurance industyr.
Felix, I have been selling insurance for 20 years, I have never seen an application that asked for race. I even sell policies to people I have never seen in person. Please explain how race determines the premiums. I know location has a lot to do with rates, could it be that many non-whites do not live in the best neigborhoods, so the location is what is causing the rate difference? That would be my guess. We really don’t need any more race baiters out there Felix, we already have Jesse Jackson and Al Sharpton and La Raza.
My kid just graduated from college, but from the time she was an upper classman in high school, she was receiving invitations from credit card companies to apply for and receive credit cards. To my knowledge she has never taken, and no school has ever offered, a course for kids like her to learn about and understand how to write a resume, how to use a check book, how to invest money for the future, and most importantly how to use credit. She’s hardly what you would call stupid, but combine the enticements one sees in credit card commercials (“What’s in your wallet?”) with offers to children of credit limits far in excess of their current earning capacity and you have a dangerous mixture that will surely lead to personal disaster. I firmly believe that along with readin’, writin’ and ‘rithmatic, an education in personal responsibility, incorporating the use of credit, should be mandatory at a very early grade level in our schools.
Hey Clm Mgr, what about parental responsibility? Why are you concerned that someone else should be teaching your daughter the basics of financial survival? What is wrong with you taking the task upon yourself? That is what my dad did with me. He explained many factions of finances to me that I actually thought it was facinating. Also, by the 10th grade, even my school had taught us how to balance a checkbook.
Compman: You were lucky. Your dad actually knew a thing or two about finance. I, on the other hand, did not have such an astute dad, and the problems I had with financial matters in my own youth (which still haunt me today) would lead you to believe that I was incapable of passing on anything more than abject failure to my own kids. I believe in parental responsibility, but my own ignorance in this area would have led my kid to repeat my own mistakes…better to have her learn it from folks who know such things and can pass their knowledge along.
Where are people sending their children for an education these days? I’m not that old and I was taught all this stuff before the end of my sophmore year in high school. Oh, and I went to a moderately performing public school.
As for the basics of finance, any parent that balances their checkbook every month can teach their children everything they need to know. I learned 90% of what I needed to know to succeed on my own by talking to my mother while she paid bills and balanced the check book. My parents have no retirement, no savings and no investments, but they still managed to teach me everything I needed to get those things for myself. Don’t sell yourself short just because you came from a background that didn’t support the education you wish to pass on.
I don’t think anyone is talking about teaching a course on checkbook balancing. basic arithmatic should cover most of that. i think the course some of us are speaking of are the ins and outs of APR’s, preparing for home buying, investments, things like that. i’m sure you have all attended a “class” on 401k’s if your company offers a 401K, i’ve even taken a course on home buying offered by my company and my company also offers a course on financial independence. But i think these are courses that should be taught in high school. BEFORE one enters the work force.
so yes, i understand, there does NOT need to be a course on checkbook balancing, but there are some things that I think young kids should be taught along with pancake recipes in their Home ECONOMICS class.
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…this coming from a person who also can’t spell.
Actually, it’s not spelling I have a problem with; it’s that darn typing my fingers don’t like.
compman, it is well known that minorities get charged higher rates for mortgage loans that whites, and that goes for insurance rates also. Why does that occur other that racism, in the credit and insurance industyr.
Felix, I have been selling insurance for 20 years, I have never seen an application that asked for race. I even sell policies to people I have never seen in person. Please explain how race determines the premiums. I know location has a lot to do with rates, could it be that many non-whites do not live in the best neigborhoods, so the location is what is causing the rate difference? That would be my guess. We really don’t need any more race baiters out there Felix, we already have Jesse Jackson and Al Sharpton and La Raza.
My kid just graduated from college, but from the time she was an upper classman in high school, she was receiving invitations from credit card companies to apply for and receive credit cards. To my knowledge she has never taken, and no school has ever offered, a course for kids like her to learn about and understand how to write a resume, how to use a check book, how to invest money for the future, and most importantly how to use credit. She’s hardly what you would call stupid, but combine the enticements one sees in credit card commercials (“What’s in your wallet?”) with offers to children of credit limits far in excess of their current earning capacity and you have a dangerous mixture that will surely lead to personal disaster. I firmly believe that along with readin’, writin’ and ‘rithmatic, an education in personal responsibility, incorporating the use of credit, should be mandatory at a very early grade level in our schools.
Hey Clm Mgr, what about parental responsibility? Why are you concerned that someone else should be teaching your daughter the basics of financial survival? What is wrong with you taking the task upon yourself? That is what my dad did with me. He explained many factions of finances to me that I actually thought it was facinating. Also, by the 10th grade, even my school had taught us how to balance a checkbook.
Compman: You were lucky. Your dad actually knew a thing or two about finance. I, on the other hand, did not have such an astute dad, and the problems I had with financial matters in my own youth (which still haunt me today) would lead you to believe that I was incapable of passing on anything more than abject failure to my own kids. I believe in parental responsibility, but my own ignorance in this area would have led my kid to repeat my own mistakes…better to have her learn it from folks who know such things and can pass their knowledge along.
I think you underestimate yourself. If you were able to raise a child and put her through college, you must have been doing something right.
Where are people sending their children for an education these days? I’m not that old and I was taught all this stuff before the end of my sophmore year in high school. Oh, and I went to a moderately performing public school.
As for the basics of finance, any parent that balances their checkbook every month can teach their children everything they need to know. I learned 90% of what I needed to know to succeed on my own by talking to my mother while she paid bills and balanced the check book. My parents have no retirement, no savings and no investments, but they still managed to teach me everything I needed to get those things for myself. Don’t sell yourself short just because you came from a background that didn’t support the education you wish to pass on.
I don’t think anyone is talking about teaching a course on checkbook balancing. basic arithmatic should cover most of that. i think the course some of us are speaking of are the ins and outs of APR’s, preparing for home buying, investments, things like that. i’m sure you have all attended a “class” on 401k’s if your company offers a 401K, i’ve even taken a course on home buying offered by my company and my company also offers a course on financial independence. But i think these are courses that should be taught in high school. BEFORE one enters the work force.
so yes, i understand, there does NOT need to be a course on checkbook balancing, but there are some things that I think young kids should be taught along with pancake recipes in their Home ECONOMICS class.