[OldBlondBabe]

I'm trying to figure out how hubby and I turned out to be financially responsible...without a government- sponsored program. I will admit, back in the old days, when we were first married, one had to apply for a credit card and wait for approval. We receive 5-10 unsolicited credit card applications a week, offering between $10,000 to 50,000 credit each!

[Wally_Kalbacken]

Memphis TN and the county surrounding it has the highest per capita bankruptcy rate in the country - and has for years. Dane County, WI has had the lowest for years.

[anniegetyourgun]

"Building character starts when you're young, and good character is basically what having good credit is all about," Bailey said.

This can't be stated enough times.

[Gingersnap]

You know, I was struck by the same question! I never had a money management class and yet here I am today - a happy little capitalist with excellent credit.

Of course maybe some of us are just self-starters. I also have a career without having a "career course" and a 22 year marriage without a "marriage class".

I did go to Sunday School, though, so that explains the Christian angle.

[TheSpottedOwl]

My parents believed that the only debt should be a home mortgage. They had store credit cards, but paid them off every month. I have never had a credit card in my name, they were always in my ex's name, with me as a secondary name. I get offers every week. They get tossed in the trash.

[GovernmentShrinker]

Most likely your parents stuffed some common sense into your head, which is commendable. But when my tax dollars are funding public schools to the tune of $20,000 per year per student, I sure expect those students to graduate knowing that one pays interest on credit card debt.

[Crawdad]

Can anyone recommend some literature I can give to my 15-year-old daughter to help her out. As a fairly normal 15-year old, she doesn't understand how I "evolved" from a single-celled organism to my current physical form, so she won't listen to much I tell her. I'd like her to be well-versed in personal finance. Thanks.

[KevinDavis]

My wife and I was in credit card debt. We payed the bills off. No bankruptcy. Everytime we get a credit card offer.. It goes to the trash....

[JmyBryan]

If you're going to have public education, the most impt thing you can teach children is how to make money. Of course very few teachers know anything about it other than going on strike.

[petercooper]

"There's a lot of things we don't know because no one ever sat down to teach us," Coleman said.

it's up to responsible parents

[Mamzelle]

I'm sure the "individual responsibility" folks will chime in--but I am grateful this kind of credit was hard to come by when I was younger and dumber and uncreditworthy. I believe that it is just as reprehensible on the part of the banks to lend to the uncreditworthy (young folks with no income getting credit cards) as it is to be a deadbeat.

They set up booths at college registration day to catch the unwary freshman who's just turned 18, for crying out loud.

IOW, when they default, I don't feel sorry for the banks. They have no business lending to the uncreditworthy. Half of the job of lending is finding out if the lendees can pay the money back.

[meowmeow]

"There's a lot of things we don't know because no one ever sat down to teach us," Coleman said

Sheesh! If I only knew what someone else came and taught me, I wouldn't know very much.

[ThinkDifferent]

Spend less than you make. Save and invest the difference. That is all.

[tdadams]

Why is it that so many parents neglect to teach their kids about financial matters anymore?