The Credit Exchange

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As you may know, I write about getting out of debt at my other blog (No Debt Plan). There are many ways to get out of debt, and I can tell you how to do it over there.

One of the main issues I’ve discovered (at least in the United States) is we are not educating the next generation on how to use credit properly. Kids don’t get an education in personal finance, and then they graduate high school. Some go to college, some just move out and go to the work force. None of them know what to do with a credit card and think “Wow, free money!” or “Hey, I can have that plasma TV now and only pay $15 per month!”

You know where this is headed, they end up losing their shirts as the debt piles on and on.

Maybe some of those kids should try Credit Card Counseling? Every counseling is different, but maybe they can learn what finance charges and interest rates are all about. Maybe they can consolidate those debts and learn how to stop using credit cards to their detriment. Credit cards themselves aren’t bad, you can use them in a good way or a bad way. It’s just most of them use it in a bad way.

April 17, 2008 · Filed Under Make Money Blogging

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