Idea that may be good for the economy some day

Ok, so I was sitting back eating cheese sticks, having a couple drinks, watching South Park and The Chappelle Show, when I had this idea to stimulate the economy. 8)

I was thinking about my brother and how he is having some trouble deciding what he wants to do with his future concerning things such as college and job. He is almost 20, and will be getting engaged here soon. So it is a crucial time for him. However, there is some particular things he has going for him that I, and many others, did not.

I showed him some very simple things about credit and how to check and build your credit, and what to do and not do and how what will affect his overall credit situation. His credit score at 19 is now 100 points higher than mine is at 21.

So, then I showed him how to set up an investment account online, and I keep him up to date with news in the tech world. So at 19 years old, he also has a little, but existant, portfolio.

To show him all this only took perhaps a couple hours total in advice and explanation over the past year. But without me showing him, unless someone else would have, he wouldn’t have known. They don’t teach anything (at least as far as I know of) about credit and credit management and investments and the future in school. So this is where my idea to stimulate the economy comes in. :slight_smile:

They could have a little class for seniors in highschools, in which they would teach them the basics about credit and credit management. Also, it would help to show them ways of investments and savings, as many young people are falling prey to these “pyramid” schemes and other “get-rich-quick” ideas.

If you think about all the money that comes from people between the ages of 18 and 23, and is wasted on stuff by which they didn’t know better, it is a lot of money. For instance, just knowing which credit card applications to throw away and which is worth looking into helps alot. What my brother did, was set up a secure credit card through Capital One for $99, inturn he got a credit card with a limit of $500. With this, he was able to at least establish some type of credit level. Now the trick is to control the level of revolving debt to other types of debt.

So, once you take all this money, and put it through the proper channels, you end up with a lot going into healthy parts of the econmoy, and a much better standard of living for many in the future as they will have avoided many common pitfalls and built a base by which to build their future.

So… what do you think? Is it stupid? Or should I keep a pen with me to write on the back of cocktail napkins?

Thats an execellent idea. One of the things they don’t teach is money management (except in Occupational therapy for special ED) but it’s really important to know.
But since the whole idea behind US culture is financial bondage, the idea is to get people into dept and never let them out, if you teach money management in high school it ruins the whole concept.

Actually, I had some education in investing and credit in High School. It was in one of the best classes I took (for basic life skills), JROTC (Yes, I was a “Rotsy” nerd. My first year in Millington, TN, I was in NJROTC (Navy Junior Reserve Training Corp), then first six weeks at the AL791st AFJROTC (Air Force JROTC). I was then in Guam for a year and a half… no JROTC at the private school (public schools were horrible, and our tuition is a big reason for my parent’s current financial situation). Then, half of Junior and all of Senior year back here at Foley High School, and the AFJROTC program.

Navy ROTC was a little bit more fun. I was on the Drill Team (which was armed drill), and the Rifle Team (shooting). We had actual demilitarized M1 Springfield Rifles (I think they were used in Korea, maybe WWII as well… bolt action, very heavy). Those were MUCH more fun to spin. Our program had 50. The Drill team had dedicated weapons (you had to memorize the serial number, and most people named theirs), the extras were for the regular classes to drill with. I was the assistant armory officer (though I had a cadet inlisted rank). The armory officer didn’t do much except count the spare parts every now and then… I’m the one who replaced all the busted stocks (happened a lot… you spin and throw an 12 Lb rifle, and you’re likely to drop it often, and break it occasionally). One big difference though with the Navy JROTC… they got more money. All the uniforms, all the rifles, etc were provided by the Navy. We had a two whole boxes of about 50 spare rifle stocks. I think we had a couple guards too, but those rarely broke. BTW, these rifles were real, but disabled. The bolts were welded shut (you couldn’t load them), and everything inside the trigger housing was welded together as well (so even if you could load it, you couldn’t pull the trigger). I imagine the firing pin was removed too, but because of all the welding, you couldn’t really open it up that far (so if you could load it, and you could pull the trigger, it still wouldn’t fire). We used BB Guns for shooting, but we also had .22 rifles for competitions. Unfortunately since the year I was there was the first year of the program, there were no competitions. Would’ve been nice if there were. I was pretty accurate, and often times in the 10 shots between replacing the targets, I would have just 1 hole. 8)

AFJROTC was pretty cool too, but here where we get into the financial and other education. The core of the curriculum was Airospace History… Things like Scott Carpenter being the first American in space, and John Glen (3rd American in space) being the first American to perform a full orbit… etc. Our Chief (Cheif Master Sergeant) was a pretty smart guy (that was the theme I noticed in common for both units… the Enlisted were much smarter than the officers.). Cheif usually taught twice a week on life skills. Some included effective listening and counseling, and others included investing, mostly about proportions… high vs. low risk, interest vs. growth, etc. Did get one mini-lesson about money in Millington though… Sr. Cheif wrote up on the board his name, and Capt. Hall’s name. Next to his, he put “Enlisted, then college”, and next to the Captain’s he put “College, then commissioned”. Then he said, “Want to know the difference?” Next to him he wrote “$50K/Year”, and next to Captain Hall’s he wrote, “$90K/Year”, then said, “Go to college!”. Hehe. Only really bad thing about the AFJROTC was they used “facimile” weapons. Just a couple pounds, rather awkward in feel compared to the real thing. This was becaused the Air Force is cheap… the Navy unit one town North had M1’s. The funniest thing was when the sprung for new ones for the Color Guard… their think aluminum bolts open to show a plastic round, rofl.

Oh, oh… I know that one!!! ALL OF THEM! I’m a member of Navy Federal Credit Union, and I started out about that way. A starter Visa card… pay them $500, and you get a card with a $500 limit. 5 years later, it’s now unsecured (so it’s real credit), with a $900 limit, and I have $500 of overdraft credit on my ShareCheck account. By the way, there is nothing better than a good credit union. It took us years to get into NFCU (because there are certain rules… mostly because it was started just for Navy and MC officers, but when dad was in Japan, the rules let him in). I’ve got a “ShareSavings” account and a “ShareCheck” account. With my checking I get free unlimited check writing, free ATM, free Internet banking with Web Bill Pay, free Visa Check Card, free direct deposit, no minimum balance, and I earn interest on it (1.some-odd percent, vs the 3.some-odd percent for ShareSavings). Technically though, it’s not interest, it’s dividents. That’s because Credit Unions are not companies like banks. They’re a different category, all the members own a share (determined by how much you have in the credit union, which is why they’re called “ShareSavings” and “ShareCheck” accounts). My credit card and overdraft protection have a fairly low %12.5, with no fees (except for overcharges, and late payments… but that’s applied to really late payments).

One more thing… don’t believe the a-holes at Capital One. Their whole series of commercials are about low interest rates, but I got an offer and wanted to see just how low… 19%!!!


That’s true, but their service is great. I’m sure there is ways to lower the APR. I know I’m going to be looking into here soon as mine is 18.5%, but at least I have something to work on. With a low limit, it is hard to get yourself in such a hole as to where the interest rate kills you. Other than that though, they have an excellent web based account system. I like it better than I do my bank’s.

What’s this about waiting 5 years for an unsecured credit card?
I have no credit whatsoever yet I get stuff from citibank visa and all. Once they find out that im not going to let them use my parents credit they withdraw their offers though.

Imp, you took JROTC?

Ugh, I’m about to go to a Magnet school and their JROTC is laughable.

They’ve got these important looking guys standing up at the front of the auditorium where I had to take this test handing out a bunch of crap. Half of them were wearing their barets indoors. Wow, I’ve never seen such strict adherence to customs and curtusies. Then the go sit outside and take their barets off! I decided then and there that I didn’t want to join this braindead JROTC unit. If these were it’s top members, how stupid would the little people be? Also, it’s Army JROTC and I really want Air Force JROTC because I’m already in Civil Air Patrol.

Ok, I’m changing the subject title. I look at it now and think, “what the heck was I smokin last night?” Ahhhhh… it’s just one of those days I guess :-? :smiley: :x :o

Well VK, I didn’t see much of a link between AFJROTC and Civil Air Patrol. Well… other than because I had solo flights, I was able to wear wings, hehe… only cadet in at least 6 years to wear a pair (Since Lt.Col. Karl became the ASI… Aerospace Science Instructor, Cheif was the AASI, Assistant ASI). Oh, I graduated Cadet Captain (Airforce Rank, not Navy). I was the Information Systems Officer. Didn’t have to do much really, they only had an 8086… not much I could do, lol.

Oh… and I hate baretts. They look stupid, IMHO. I much preferred the Navy uniforms overall.


Oh god I hate the navy service dress. Bleh.
I don’t really like any service dress though, we just call em “Blues” in the AF. I like BDUs. I like barets. Several of our senoirs were Spaatz cadets, that’s a Cadet Colonel with an additional test, the Spaatz acheivment. It’s incredibly hard to pass. When one cadet does, it’s a national thing, they generally get it presented to them by an important person, whether it’s a governer, senator, or even the president.

But Civil Air Patrol and AFJROTC are related. They are both auxilaries for the USAF. If you’re an officer in JROTC you can automatically gain ranks in CAP.

About the solo wings. Many cadets not only have solo wings here, but training as air teams for SARs and SAREXs (Search and Rescue [Excersise]). I’m not old enough to get a powered plane liscence but I can do orientation flights in them. We get like 20 hours a year free in Civil Air Patrol for learning flights. I CAN however solo in a glider. Boooorrring. I prefer ground team operations. I’m trained in finding an ELT with an ELPER or even with a commercial radio is the shit hits the fan.

BORING MY ASS!! I loved soaring, and if I had any money, I’d get back into it. BTW, you’re 14? I thought you were younger.


Lol, some people think I’m older, some think I’m younger.

I’m 14.

Well… I think the best thing about sailplanes is the thrill of the landing (unless you’re a cheater with a powered glider, hehe). You know coming in that if you don’t get it right, you’re in a bit of trouble… no powering up and coming back around, hehe. Nearly gave my dad a heart attack when I solod… I landed right on the runway numbers, and stopped as quickly as possible. Basically because I was lazy, and didn’t want to have to get out and push it back for another takeoff. Of course, he thought I was going to miss completely, lol. You put down a dime, and I could’ve landed on it. Well… maybe a quarter, hehe. :stuck_out_tongue: