May 31, 2018

I’m Miriam  Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money

 

M My son in law recently showed me a bundle of credit card offers addressed to his 3 sons in their early 20‘s.  He showed the stack to his sons with this comment.

 

 

V His words. “They aren’t reaching out to help you.  They are targeting YOU for their own profit.”  Millennials are targeted because credit card companies know they can be impulsive and think their income will be higher in the future.  Charge now, pay later.  Problem, interest rates of 24 %.   Our mantra, if you can’t pay cash, you can’t afford it. What makes you think you can afford it in 30 days?  A necessary, early lesson.

 

M  Parents and grandparents need to teach this early and often.

PODCAST