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Author: legalwordwarrior Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311074  
Subject: Re: Parents as Role Models for Financial Matters Date: 4/19/2012 2:06 PM
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Personally, I think it's EASIER to follow a good financial plan today than in the day of the predatory company store with easy credit or the sharecropper in debt to his landlord.

And this is another example of how the less educated among us can end up in tight financial straights. If you don't understand how the system works, it's easy to get yourself into financial trouble.

In those days is was tough to avoid debt peonage. These days, there are ever so many financial vehicles to encourage savings and investment. And there are quite a number of people using those methods and opportunities wisely. Unfortunately, a lot of people choose the granite counter tops and new cars instead of financial independence.

Very true. But again, if you have parents who look to the big IRS "windfall" at tax time, never really understanding that it's their money that they're loaning to the govt. at 0% interest throughout the year, then the chances that the offspring are going to get it and break that cycle are slim. Not suggesting that people can't do it, just saying that those who grow up with parents who can show them how to save and invest sucessfully are better off than those who probably regard March as "get a new car or couch month"

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