We're number 1?

[Sledhead71]

Originally Posted by Talking moose

Been saying this for years.
Teach them about real life stuff. Bank loans, rrsp’s, interest rates, buying a car, buying a home, good debt, bad debt, marriage, and hockey.

It's time to get back to basics, we have dummied down society to where young adults can't do simple math, write their own name and get offended when life does not align with their personal views.

Economics, politics, religion and hockey should be taught at home.

[Au revoir, Gopher]

Anyone looking for a book for their kids (or themselves) I highly recommend Wealthing Like Rabbits.

A couple of excerpts on debt:

The first step to handling our credit cards better is for everyone to fully accept that when we use our credit cards we are not paying, we are borrowing. You know that and I know that. So why do so many of us behave like we are oblivious to this fact? It’s like we have this great big disconnect in our heads, somewhere deep within our brains, that stops us from understanding that all a credit card does, all it really can do, is postpone the inevitable, the inevitable being that we have to pay back the money we borrowed.

If you earn enough Air Miles to visit Europe shopping at a liquor store, you’ve got bigger problems than your credit card debt to deal with.

ARG

[Smoky buck]

Originally Posted by Au revoir, Gopher

Anyone looking for a book for their kids (or themselves) I highly recommend Wealthing Like Rabbits.

A couple of excerpts on debt:

The first step to handling our credit cards better is for everyone to fully accept that when we use our credit cards we are not paying, we are borrowing. You know that and I know that. So why do so many of us behave like we are oblivious to this fact? It’s like we have this great big disconnect in our heads, somewhere deep within our brains, that stops us from understanding that all a credit card does, all it really can do, is postpone the inevitable, the inevitable being that we have to pay back the money we borrowed.

If you earn enough Air Miles to visit Europe shopping at a liquor store, you’ve got bigger problems than your credit card debt to deal with.

ARG

Only way to use a credit card is never put anything on it you can’t afford to buy with cash unless it an emergency. Better yet get the best possible cash back card, use it as your debit card and always pay it off in full every month so you pay no interest

Visa has paid me far more for using their card for the last 20years then the $5 interest I paid once because I didn’t realize the date so I was a few days late.

Also keep a realistic max limit regardless of what they offer for personal

Using credit is a good thing if you can do it without paying interest.

Buying unnecessary toys on credit just because one can afford the payments is one most people are bad for. Any atv, boats, bikes, trailers, or any unnecessary toy I have bought in life was paid in full no loans. If I want/wanted something bad enough I cam work overtime, side gig’s, build stuff for others, or liquidate items I no longer need to buy it

Paying interest on things you want but don’t need is an issue many have

But regardless of budgeting the cost of living in this country consistently increasing is the real factor in the climbing debt in Canada

[59whiskers]

Originally Posted by lmtada

Warren Buffett drives a 15 year old Cadillac, and still lives in his original home purchased 1950. He said he’s happy. Does what he likes (makes $$$$). Pays cash for everything.

That system works, and has worked well for this family. Never tried to keep up with the Jones.

[Bushrat]

Originally Posted by elkhunter11

Society would be far better off, is they taught economics in school, instead of trying to turn the students into social justice warriors.

True but the political and industrial corporation complex doesn't want financially educated people. Industrial complex is dependant on keeping everyone broke and spending, spending, spending. Political complex likes to have people broke and beholding because it is much easier to control and manipulate people who are collared and leashed by debt financing and taxes. The rich have always controlled gov'ts and banks worldwide and the only way to keep it rolling is to keep the average person turning over pertty much all their income back into the hands of those complexes. It's been that way since economies based on currency be it gold, seashells or trade, crawled out of the swamp. The very wealthy have always been dependant on taking advantage of the financially ignorant, either financially or forcefully, more so today, it's modern feudalism using money. People lay themselves open in sort of a self imposed extortion through ignorance chasing the american dream they have been sold. Dangle that materialistic carrot in front of the masses and the majority will chase it. Thats what the powers that be do. IMO.

[Sporty]

Originally Posted by elkhunter11

Society would be far better off, is they taught economics in school, instead of trying to turn the students into social justice warriors.

I haven't had kids in school for a long time but do they even have Home Ec or Shop in schools anymore? Haven't they taken away Phys-Ed as well? What I do hear from friends who have school age children is that they're learning all about genders and pro-nouns though, in elementary.

[Smoky buck]

Originally Posted by Sporty

I haven't had kids in school for a long time but do they even have Home Ec or Shop in schools anymore? Haven't they taken away Phys-Ed as well? What I do hear from friends who have school age children is that they're learning all about genders and pro-nouns though, in elementary.

They still have all of the courses you listed in high school. They still need physical education credits to grad even. Yes the kids are being taught some useless things and their is some whack job teachers but they still learn plenty of great skills and their is teachers that are good level headed people too

My son grad 2 years ago and my 15 year old daughter is presently in high school

Now maybe your friends have their kids in an extra special school

[CBintheNorth]

Originally Posted by Smoky buck

Only way to use a credit card is never put anything on it you can’t afford to buy with cash unless it an emergency. Better yet get the best possible cash back card, use it as your debit card and always pay it off in full every month so you pay no interest

Visa has paid me far more for using their card for the last 20years then the $5 interest I paid once because I didn’t realize the date so I was a few days late.

Excellent post.

I think if most people payed off their credit cards in full every month for 1 full year, having a balance would become mentally unacceptable.
That's the way I see it now, anyway.
VISA loses money on me for sure. Sad that they're making it back on others though.
Tough times are still ahead and debt will only get worse in the next few years I fear.

[Sporty]

Originally Posted by Smoky buck

They still have all of the courses you listed in high school. They still need physical education credits to grad even. Yes the kids are being taught some useless things and their is some whack job teachers but they still learn plenty of great skills and their is teachers that are good level headed people too

My son grad 2 years ago and my 15 year old daughter is presently in high school

Now maybe your friends have their kids in an extra special school

Thanks for the clarifications!

They're in BC so maybe that's the difference

[Trochu]

Originally Posted by CBintheNorth

VISA loses money on me for sure.

No they don't. Every time you use the card, Visa makes money.

[Smoky buck]

Originally Posted by Sporty

Thanks for the clarifications!

They're in BC so maybe that's the difference

Well 4 years ago in Northern B.C. just at before I moved it was no different than Alberta. I would have to ask family and friends but I don’t think it has changed in BC

[Smoky buck]

Originally Posted by Trochu

No they don't. Every time you use the card, Visa makes money.

Yup retailers pay for the transactions