Comments on: Ten Things I Wish My Parents Taught Me about Money http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html News for Consumers in Changing Times Sun, 12 Feb 2012 04:49:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: moneymonk http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html/comment-page-1#comment-215 moneymonk Wed, 21 Feb 2007 17:54:00 +0000 http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html#comment-215 Same here! I wish my parents taught me all of that. I started learning about money age the ripe age of 28. But it's never too late.<br/><br/>Start now. Same here! I wish my parents taught me all of that. I started learning about money age the ripe age of 28. But it’s never too late.

Start now.

]]> By: Anonymous http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html/comment-page-1#comment-213 Anonymous Wed, 21 Feb 2007 17:10:00 +0000 http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html#comment-213 You're still wrong about the credit score thing - it's not a "myth" that you should have a good one, no matter what that idiot Dave Ramsey says. Even if you never want to take a loan out in your entire life, there are still good reasons to have a good credit score. Insurers use them to help determine your rates; poor or nonexistent credit ratings can now cost you hundreds of dollars more per year on insurance. You can also be denied a job if you have poor credit, especially in financial fields.<br/><br/>It also sounds like the source of your problem with credit cards was your own irresponsibility, not the bank's. Tons of people use credit cards without ever going into debt. You’re still wrong about the credit score thing – it’s not a “myth” that you should have a good one, no matter what that idiot Dave Ramsey says. Even if you never want to take a loan out in your entire life, there are still good reasons to have a good credit score. Insurers use them to help determine your rates; poor or nonexistent credit ratings can now cost you hundreds of dollars more per year on insurance. You can also be denied a job if you have poor credit, especially in financial fields.

It also sounds like the source of your problem with credit cards was your own irresponsibility, not the bank’s. Tons of people use credit cards without ever going into debt.

]]> By: ggreenblog http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html/comment-page-1#comment-211 ggreenblog Wed, 21 Feb 2007 03:06:00 +0000 http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html#comment-211 Sure, 13% is the figure that I used. There are plenty of good mutual funds which have averaged 13% annually for a very long period of time. So if you put in $1000 at age 15, it becaomes $1130 at age 16, $1277 at age 17, $1443 at age 18, and so on. Each year all the money in the account will grow by 13%. Sure, 13% is the figure that I used. There are plenty of good mutual funds which have averaged 13% annually for a very long period of time. So if you put in $1000 at age 15, it becaomes $1130 at age 16, $1277 at age 17, $1443 at age 18, and so on. Each year all the money in the account will grow by 13%.

]]> By: Ms.RLVT http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html/comment-page-1#comment-209 Ms.RLVT Wed, 21 Feb 2007 00:46:00 +0000 http://www.americanconsumernews.com/2007/02/ten-things-i-wish-my-parents-taught-me-about-money.html#comment-209 Hi, I really am enjoying your blog. Could you explain, though, how you arrived at your result in the retirement part, though? The compound interest calculator I found showed that the $1,000 would need to be earning 13% a year. Does that sound right? Can you just expound a little on that? Thanks so much. You're doing a great job here. Hi, I really am enjoying your blog. Could you explain, though, how you arrived at your result in the retirement part, though? The compound interest calculator I found showed that the $1,000 would need to be earning 13% a year. Does that sound right? Can you just expound a little on that? Thanks so much. You’re doing a great job here.

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