only backgroundI'm a wife, mother and grandmother. I'm opinionated. I contradict myself frequently. Most of all, I love my kids. I believe in them. I fight for them. They're weird and wonderful. If you want to know more, here's a bunch of other stuff from my old site.
Young And Full Of Debt
- by Marisa
- August 21, 2007
That’s what we were and it looks like that’s how it is for most young people. Fifteen years ago we were paying off two vehicles and two mortgages. It was such a challenge to make those payments every month. The worst part was that the interest we were paying on the vehicles wasn’t even tax deductible. That’s when we decided to take control of our debt, consolidate as much as possible and work toward paying everything off. We spend days researching, making phone calls and trying to find the best way to get out of debt. What we really needed was reliable debt consolidation help but we had no internet back then; we were on our own.
Nick and Brit are looking into consolidating now so being able to get advice at DebtHelp.com has been wonderful. Let’s face it, young adults are not always willing to take advice from the old folks (aka parents) so finding a site that leads them toward credit counseling is a real blessing.
While looking over the site I also noticed that they offer assistance to those needing a student loan consolidation program. My son, Jesse, is trying to pay off his student loan now but also trying to get his finances in order so that he start his own business. I’m sending him the link to DebtHelp.com so that he can look into getting that student loan taken care of as quickly and painlessly as possible.
It sure would have been nice to have this kind of resource around when we were young and trying to keep our finances in line. I still don’t know how we made it through those years. At least with DebtHelp.com I have a reference to pass on to my kids so they can get through the financial maze a little easier than their father and I did.
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My son is 23 and it drives me nuts on how badly he manages his finances.
Having no Internet could have been a blessing. That was one less bill you had to pay
If my son or daughter took advice from me about their finances then they wouldn’t be in the pickle which they are. Maybe they’ll listen to this ‘impartial’ advice?
I’m sick when I see what our kids are up against today. It seems impossible for them to be debt free. The banks are constantly offering new mortgages, credit cards, and it’s very difficult to not be taken in with the buy now pay later scam. We have furniture stores that encourage you to buy today, and not make payments for months. The marketing is very difficult to resist if you need furniture.
Can our kids ever be debt free? Especially as you mentioned many of them, starting out with school loans. I hoped schools will provide counseling during hight school to teach our kids how to save, and budget. Most people today, don’t use a budget. If we started them thinking about this in school, perhaps the pattern would be established and there wouldn’t be so much impulse and unnecessary spending.
Sorry to go on and on, you just hit on a really good subject… Ive been through this with my grandchildren, and it seems they just don’t get it. We keep hoping.
Regards, Dorothy from grammology
On of mine wasn’t so good at 23. He’s much better now at almost 26. Of course, rent in Hawaii is over a couple thousand per month so if he doesn’t manage well, he’ll be homeless. Food and shelter are great motivators.
Ha! I never thought of that. Good way to look at it.
They sound like typical kids. Good luck!
Did you know that when a kid applies for a student loan for school, they automatically become eligible for a credit card? That’s how Brit got hers. My second son kept getting these offers in the mail for credit cards when he was in school and I kept throwing them away. He would have been furious if he knew. I think he’s happy he didn’t fall into that trap. He’s having enough trouble paying the student loans.