Baltimore Sun opinion
EDITORIAL NOTEBOOK
ORIGINALLY PUBLISHED JULY 22, 2006

At a convenience store in Washington recently, a twentysomething professional bought a pack of gum. The total was $1.25 - he paid with his credit card.

The perilous piece of plastic has become an alluring payment method for all Americans, but especially for young people, on whom the card's magnetic strip has a particularly strong pull. But it's not entirely their fault.

As the economy expanded during the 1990s, the options for mortgages, pensions, insurance and credit cards increased. Teenagers growing up during that increasingly complex time were left unprepared and financially vulnerable by high schools, universities and the government. Click here to Read the article.

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This article segments the issue of education into various groups. It is true if we had a more educated population the country would not be in the mess we are in. I more educate popular would not have surrendered so much to Government and Big Business. The causes of all are ills could be said to the dubbing down of Americans.
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I am committed to the financial wisdom, which says not to substitute or change an unsecured Debt for a secured Debt. You walk into a bank for a loan to start a business or buy a home. They are going to make you put up security which is more than the loan is worth (add the value of the assigned asset and the interest over time- what a deal) and you’ll be adding the year of worry sweet and toile to meet the note month after month for years.

From a statistical point of view, I understand the way the numbers work out in favor of re-finance a high interest rate loan for a lower interest rate loan. But the calculation is a lot more complicated then that. The most serious calculation is the unknowable. Looking into the future it is best to be very conservative, especially in the current economy.

I can see re-financing if you have a solid career, home secure, lots of saving. You know the more I think about it, the more I convince myself the idea stick. Any way you cut it the bank is more secure and you are not. It’s the same old story the grim reaper is put of for another day.

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It may look easy, but it's not simple
By Roger Schlesinger
Saturday, July 22, 2006
Townhall.com
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By Michelle Singletary
WashingtonPost
Sunday, July 23, 2006; Page F01

My grandmother, Big Mama, didn't like lending folks anything.
She wouldn't let anyone borrow her fancy church-going hats. To my knowledge, she never lent her car to anyone. She wouldn't lend money. And she especially wouldn't let people borrow her good credit name -- meaning she would not co-sign for a soul, not even me.
Ms. Singletary explains a little know aspect of authorizing the use of your Credit Card to another person, family member or otherwise.
Click here to Read the article.
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