Will there ever be a student loan bailout? - Page 10 - Mothering Forums

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#271 of 282 Old 04-07-2009, 09:32 PM
 
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Neither was I. Hell, my mom lives with us now because of money, not health, issues. My father taught me a lot about general living skills, and he was good with money, but what I know now is mostly from books.

ANYONE can get money sense. They just need to take the time to read.

Generally I agree with you 100% and while I do think anyone can get money sense. Its my own experience based off coming from a family where no one had any money sense it is harder to get that sense. I have always been an avid reader but at 18 when I ran off and got married I wasn't reading up on finance. Instead I pretty much screwed up my finances and credit big time in my 20's, making the types of mistakes my folks made....its only been in recent years and I am almost 40 now that I have started to get in a better place with money. Of course the damage was done but now I know better.

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#272 of 282 Old 04-07-2009, 09:56 PM
 
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me too. As long as I was making good money and paying the bills, it was all good.

It was when my department got the axe and I had to start looking for something new to do that it all went downhill. That's when your money mistakes come home to roost.

It was long after all this that I was watching Oprah and saw all those young people going on about how they were too smart to let it happen to them, and I thought yeah, right. That's how everyone gets into that mess. You think you're making plenty of money and it's all good. But if you don't have good money sense, you're setting yourself up for a fall. And if you don't think anything bad can ever happen to you, you're incredibly naive....or 21 and still bulletproof.

You either learn this stuff at your parents' knees and don't have to think about it, or you learn it the hard way. I don't want my kids to have to learn it the hard way.

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#273 of 282 Old 04-07-2009, 09:58 PM
 
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Also, who's money advice do you follow. Which "expert"? Because I've heard some really stupid advice given by "experts".
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#274 of 282 Old 04-07-2009, 09:59 PM
 
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Originally Posted by velochic View Post
Neither was I. Hell, my mom lives with us now because of money, not health, issues. My father taught me a lot about general living skills, and he was good with money, but what I know now is mostly from books.

ANYONE can get money sense. They just need to take the time to read.
I agree with you (again). I think this is exactly analogous to becoming an attachment-style parent even though you weren't raised that way. You simply LEARN, because you are motivated to be different. "But my parents didn't teach me how" is I feel as irrelevant to financial management as it is to gentle discipline. I just shake my head when someone says, for instance, that they hit their kids "because that's all I [the hitter] know" and yet they, the hitting parent, says she wants to be different. Then be different! If you find it difficult to be different, then go read a book or join a website and learn! (And I am saying this as a child of abuse, who has never even yelled at her child, and frankly finds it pretty darned easy to avoid becoming an abuser.) We are far, far more capable and informed than that; our learning didn't stop at our birth-home walls.

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#275 of 282 Old 04-07-2009, 10:37 PM
 
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ANYONE can get money sense. They just need to take the time to read.
But for some people, not knowing that you can educate yourself by taking the time to read is *part* of their lack of money sense. If people grow up a certain way, they don't even know about the existance of the world of financial planning & budgeting. Or if they do, it's seen as a faraway Wall Street thing for rich businessmen, not the average person trying to get by day to day.
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#276 of 282 Old 04-07-2009, 11:25 PM
 
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Also, who's money advice do you follow. Which "expert"? Because I've heard some really stupid advice given by "experts".
That's the scary part!

And when you have only seen people do things that were, in retrospect, all wrong, sometimes just doing the opposite isn't necessarily the right thing either.

Sometimes doing stuff wrong is the way to learn, but it's so much easier if you have good examples growing up and can just follow them instead. Just like attachment parenting. It really helps to have good financial role models.

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#277 of 282 Old 04-07-2009, 11:55 PM
 
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I agree with you (again). I think this is exactly analogous to becoming an attachment-style parent even though you weren't raised that way. You simply LEARN, because you are motivated to be different. "But my parents didn't teach me how" is I feel as irrelevant to financial management as it is to gentle discipline. I just shake my head when someone says, for instance, that they hit their kids "because that's all I [the hitter] know" and yet they, the hitting parent, says she wants to be different. Then be different! If you find it difficult to be different, then go read a book or join a website and learn! (And I am saying this as a child of abuse, who has never even yelled at her child, and frankly finds it pretty darned easy to avoid becoming an abuser.) We are far, far more capable and informed than that; our learning didn't stop at our birth-home walls.
This is a great viewpoint if: 1) you are motivated to do so; 2) if you can break out of the cycle; and 3) there are available resources or outside mentoring that point people in the right direction. While I agree that many people have been able to rise above the most dire of circumstances and become responsible, moral and compassionate adults, I also believe that behaviors are passed down from generation to generation for a lot of families. If this were not the case, we wouldn't be dealing with persistent poverty and ill-guidance on so many levels in our society and in our world. Most of my lessons in life were learned either from experience or mentoring from someone who took the time to advise me that there was a better way to do things. This doesn't mean, though, that my own experiences are a reflection of society as a whole. In most cases, I feel out of the norm and wonder why I was so fortunate in my station in life.

I don't underestimate the fact that many people have epiphanies about direction in life or that they see something inherently wrong with the way they were raised. But, in my business I'm constantly bombarded with the overwhelming number of people who never break out of that cycle. The lack of literacy and basic critical thinking in this country (US) is profound, and the emphasis on greed and the acquisition of material things at all costs is disturbing. I don't think our country would be in the financial straights that it is now if many individuals and the people who run corporations had any basic sense of responsibility or an inherent desire to do the right thing. Something is wrong under the surface and whether it is a parental problem, an educational problem or a lack-of-consequences problem, it has to be addressed soon.

I do think that parents play a huge role in how you learn to address certain issues in life. I don't think anyone here is blaming their parents for how they turned out in life, but I can't blame those same individuals for not having the proper tools at the get-go. If they do acquire the experience and don't learn from their mistakes, then of course I would feel differently. I think that learning from mistakes is a powerful tool, but I think ultimately it is a parent's responsibility to place their children into society well-equipped to make the right decisions and to think critically.

"Lawyers, I suppose, were children once." Charles Lamb.
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#278 of 282 Old 04-08-2009, 01:05 AM
 
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This is a great viewpoint if: 1) you are motivated to do so; 2) if you can break out of the cycle; and 3) there are available resources or outside mentoring that point people in the right direction. While I agree that many people have been able to rise above the most dire of circumstances and become responsible, moral and compassionate adults, I also believe that behaviors are passed down from generation to generation for a lot of families. If this were not the case, we wouldn't be dealing with persistent poverty and ill-guidance on so many levels in our society and in our world. Most of my lessons in life were learned either from experience or mentoring from someone who took the time to advise me that there was a better way to do things. This doesn't mean, though, that my own experiences are a reflection of society as a whole. In most cases, I feel out of the norm and wonder why I was so fortunate in my station in life.

I don't underestimate the fact that many people have epiphanies about direction in life or that they see something inherently wrong with the way they were raised. But, in my business I'm constantly bombarded with the overwhelming number of people who never break out of that cycle. The lack of literacy and basic critical thinking in this country (US) is profound, and the emphasis on greed and the acquisition of material things at all costs is disturbing. I don't think our country would be in the financial straights that it is now if many individuals and the people who run corporations had any basic sense of responsibility or an inherent desire to do the right thing. Something is wrong under the surface and whether it is a parental problem, an educational problem or a lack-of-consequences problem, it has to be addressed soon.

I do think that parents play a huge role in how you learn to address certain issues in life. I don't think anyone here is blaming their parents for how they turned out in life, but I can't blame those same individuals for not having the proper tools at the get-go. If they do acquire the experience and don't learn from their mistakes, then of course I would feel differently. I think that learning from mistakes is a powerful tool, but I think ultimately it is a parent's responsibility to place their children into society well-equipped to make the right decisions and to think critically.
Yes! And I still have days where I feel like I hear my mother's voice coming out of my mouth! When you have been around something dysfunctional for many years, even when you know it doesn't work, it's uncanny how easily you can slip into it. It kills me how easily it can happen.

It's bizarre. There are some things that are so awful you just never ever do them, and then there are some things that are just a little off kilter, and you find yourself slipping into the habit without even realizing...then when you do

If it happens with parenting moments, I don't see how anything else we do is any different, yk? I vividly remember my mother encouraging me to borrow money from the credit union for a vacation once. It's the only time I ever did, and it was a very small amount of money in the grand scheme of things, but the idea of doing that now just makes me cringe. To borrow money for something so frivolous seems insane.

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#279 of 282 Old 04-11-2009, 07:19 AM
 
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Will a mobile home loan company give you part of the loan for sewer and water setup? I have to set up the sewer and water on my land, and it will cost me about 4,000 dollars. Do most mobile home loan companies work with you on that? If not, where else can i get a loan for it?
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#280 of 282 Old 04-11-2009, 08:07 PM
 
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Will a mobile home loan company give you part of the loan for sewer and water setup? I have to set up the sewer and water on my land, and it will cost me about 4,000 dollars. Do most mobile home loan companies work with you on that? If not, where else can i get a loan for it?
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#281 of 282 Old 04-12-2009, 01:40 PM
 
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I don't forsee a bailout the likes of the bank one or the one for the auto makers... perhaps if the government would re-evaluate the interest rates on the loans it would help, especially in this time of economic turmoil. I find it appalling that student loan interest rates over 5% are being charged when the LIBOR rate is under 1%. JMHO.

I have a boatload of loans. I will begin repayment in December and I'm worried about making the payments. As much as I would love to have my loans disappear, I do owe repayment. I will repay them. I am thankful that the new repayment dependent on income kicks in in July - it just may keep us off of the welfare roles. Because of the size of my loans, I have a 30 year repayment program. Our plan, based on averages/projections/estimations, should allow us to repay the loans in under 10 years. Of course, should Uncle Sam offer to bail me out, I am not going to say no.

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#282 of 282 Old 04-12-2009, 09:31 PM
 
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I find it appalling that student loan interest rates over 5% are being charged when the LIBOR rate is under 1%. JMHO.

This is what I'm thinking, too.

Grace Comes.

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