Someone please explain to me what Lindsay Lohan has to do with The Simple Dollar. Anyway… on with the personal finance goodies.
What If You Have No Credit Card History? My advice to this young man is to get a secured credit card and spend the balance on groceries. The card can’t be used if there’s no balance already on it and it will sit there looking like a paid account on his credit report. (@ get rich slowly)
Is College Education Worth It? Unquestionably yes, especially if you excel in any field, or if you simply finish in a marketable field. The horror stories you hear about college graduates working at 7-11 are people who blew off college. Take it seriously and it is well worth the investment. (@ my financial awareness)
The US Is $50 Trillion In Debt Two big flaws here. One, almost all of the debt is long-term debt, meaning future Social Security payments, which are calcuated assuming everyone retires as early as possible. Do you know a boomer who is going to retire on their 62nd birthday? I know one. Period. Second problem, the United States market is too valuable to collapse unless someone wants a global financial apocalypse, and it’s going to stay that way for many, many years. When big economies go down, it’s like a whirlpool effect: everyone goes down with the ship. (@ housing panic)