What do you wish you knew back then that you do now?

aosotsi · Joined: 30 Apr 2008 Posts: 5 2.98 Dollars($)

Hi guys. I'm making a presentation this Friday to middle schoolers about the importance of financial responsibility and I thought it would be appropriate to include a section on the mortgage industry.

Without being too technical, what do you wish you knew back then before you got your first loan,etc... that would have made the process smoother? I'd really appreciate some feedback on this and thanks in advance.

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

The importance of not living outside of your means. Credit cards let me have things that I could have had a short time later if I would have just been a little more frugal, so if I would have saved for it and waited, I would not have the credit card bill to go along with. If it is not absolutely necessary, you can save and wait for it, versus putting it on a credit card.

cliff · Posted: Mon May 12, 2008 6:56 pm Post subject:

If you could convey how money multiplies each year it is invested. You could use a video game example and tell them if they put thier video game in a "video store investment" and at the end of each year they could have ten new video games without spending any money to buy them. Just a thought...

adonis · Posted: Mon May 12, 2008 9:36 pm Post subject:

I think it's a good topic that you've chosen for the presentation. In recent times, the need to know how to make the loan process smoother is indeed important especially when everyone is so concerned about the credit crisis.

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