Media needs to juxtapose this news with the latest from Oklahoma requiring teaching Bible in public schools
Don’t embarrass Oklahoma. They’ve really got nothing going on.
Fuck the south. Oklahoma is honorarily southern for this dumb shit.
Well, I’ve called for it on here. Now this’ll put it to the test – we’ll see how Californian students perform before-and-after the introduction of the classes and relative to states that don’t make it part of their core curriculum.
I hope this works.
Skimming their material, looks like it also deals with countering some sales tactics and the like, like companies aiming to exploit fear-of-missing-out to sell product.
I did that in my high school economics class. I picked a bunch of finance stocks, including Bear Stearns. Then 2008 happened. All I learned was that if you pick individual stocks, you get fucked. For individual investors, the stock market is a scam.
Not so much for stocks, I mean like a better UI spreadsheet client that allows them to go to any period and see ledgers that are intuitively rendered and that lets them sort of experiment with the numbers so they can learn to maneuver things better. Like all their accounts, bills/recurring, paycheques, purchases. All rendered and projected or archived for easy traversal
Its like GTD: get everything out and externalized in an independant system or locus of reference and it takes most of the anxiety and human error out of it
We had to take that class on our senior year many, many, many moons ago. Back then they taught us that having a credit card was good though. LOL!
Key word is “a”, as in one.
Although you generally are solid in 2 to 4 range, the more important thing as it turns out is (aside from prompt payments) to make sure the credit limit is high. Those store cards with 300 limits are looked down upon.
A big ding to your credit score itself is actually a low amount of lines of credit, I think 10+ is considered “good” which is ridiculous
Apparently I was wrong, and learned something new today. Your score comes from:
35% - payment history (everything paid on time, etc)
30% - amount owed
15% - age of credit history
10% - how many new lines of credit
10% - credit mix (just credit cards vs credit cards, auto loans, etc)
I have about 10 of them because cancelling is considered bad. I product change to another card when the annual fee hits to avoid it, and generally get a few cards a year to take advantage of bonuses.
They still keep giving me 5 figure credit limits on every one, for reasons I can’t explain
I’m not aware of any harms from using a no-fee credit card that you pay off in full each month. You get 1% - 5% back, and it’s easier to deal with fraudulent charges.
If you have a credit card with a $25,000 limit, that limit counts against your total even if you are not using it. For example, if it is determined that you can sustain mortgage debt of a maximum of $400,000 at current interest rates, you will not qualify for that amount because you also have an open credit card with an available balance of $25,000 at a significantly higher interest rate.
EDIT: You can only decrease what you owe on a loan but a credit card is an open line of credit that you can max out at any time. Because of this, the entire credit line counts against you when evaluating your debt.
Do you have a source for this? My understanding was only credit card balances mattered.
My teacher in 2019 tried to convey this to us in economics class too. But to this day I still refuse.
I remember a little while back reading something about how Financial Literacy was introduced as a way for the banks to avoid regulation, pushing the responsibility to individuals rather than face government pressure to change.
I’ll have to look for the article…
While there’s some truth to this, there’s also a ton of things companies are required to display prominently when lending money. Most people know about the interest rate, but there’s a lot of other numbers just as important to understand.
