A few readers expressed concern that the recent two-part series about credit cards signals some sort of sea change at Get Rich Slowly. That’s not my intent.
I get a lot of questions about credit cards (especially “which credit card is best?”), and rather than field these individually, I decided to create something that might be useful to many people at once. When I saw this month’s Consumer Reports article about the “credit card jungle”, I figured it was a great way to approach the subject. Make no mistake: I’m still wary of credit, but I do want to explore a broad range of money skills at Get Rich Slowly.
Speaking of financial literacy, here are a few articles from around the web:
I’ve stumbled across a lot of information recently about teaching money skills to kids. At Parent Hacks, Asha has some thoughts about introducing money management to preschoolers. In particular, she gives high praise to the Tessy & Tab money manager kit.
At All Financial Matters, Meg contemplates the notion that adult financial education could be a bad idea. A recent Money magazine interview suggests that financial education may be a waste of time. In her response, Meg seems torn by this idea.
I disagree. I believe financial education is vital. We’re all starting from different places and have different needs, but certain principles are applicable to everyone: don’t buy things you cannot afford, avoid debt, save for the future, etc. I think the problem is that sometimes people spend too much time teaching the details and not enough time teaching the Big Picture.
Speaking of “big”…Sometimes the little things just aren’t enough. Sometimes to reduce your debt or increase your savings, you have to make choices that hurt. A lot. Writing at TheStreet.com, Jeffrey Strain offers 10 tough ways to boost your bottom line. These aren’t small changes, but big changes that can have a large impact in a short amount of time.
This article is about Spare Change