Learning to Use Credit
One of the biggest problems in our economy today is the fact that no one
knows how to responsibly handle their credit. We start out with no
credit at all, and really no responsibilities. We might have a car
payment or car insurance to pay when we are a Junior or Senior in high
school, but that is usually about it. Then we go to college where we are
inundated with offers for credit cards, and the next thing we know we
are graduating with sky high credit card bills as well as thousands and
thousands of dollars in student loans.
The fact of the matter is that we send our children out into the world
and we teach them right from wrong, and to not talk to strangers, and
all of the things that we think we should, but we don’t tell them how to
really handle their money. But now that there are so many people out
there that don’t know how to handle their overload of credit, people are
taking notice and wondering what they could have done better.
The Treasury Department has decided to start a program that will show
18-24 year olds how to handle their money. The program will cover
financial responsibility, debt management, etc. for those that are not
already in debt. For those that are, they will be able to give them
information on debt consolidation, settlement, etc. as well.
The campaign is geared to try and get as much information out there as
possible to those that are in that high risk group – to hopefully stop
the amount of debt that they are liable to get themselves into. The
campaign will cover everything that is necessary to keep them away from
needing things like debt consolidation, and it will be offered in
English and Spanish so that they can reach more students.
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