Sunday, August 2, 2009

A Real World Ejerkashun

Even the jargon is coded terminology, and I don't want to read it anymore....

"A frank conversation about how much money is available and who will pay for what can be seen as “the equivalent of giving them the last financial inoculation before they go into the real world.... the kiddo’s first up close and personal lesson about the cost of living.... They need to understand that the lifestyle they enjoy living under Mom and Dad’s roof is not necessarily the lifestyle that they’ll enjoy
’’

Unless he's a rich elite, of course.

And a financial "inoculation?" To go with what, a swine flu shot?

Just remember, Americans : BANKS and WARS have NO WORRIES about being funded to the tune of TRILLIONS!!!!


"Planning for college should include finances; Parents, students need a budget, specialists say" by Eileen AJ Connelly, Associated Press | August 2, 2009

It may not be the sort of thing most people would think to figure into a college budget plan, but Barnes’s T-shirt habit is representative of the spending choices that crop up as a student settles in to life on campus.....

Preparing college-bound students for the numerous financial decisions they’ll have to make is an important step in getting them ready for school. Skip over addressing the issue of making responsible spending choices, and parents might find themselves receiving a steady stream of “Send more money!!!’’ text messages.

A frank conversation about how much money is available and who will pay for what can be seen as “the equivalent of giving them the last financial inoculation before they go into the real world,’’ said Jason Alderman, director of financial education for Visa Inc. “Setting that expectation that there will be a budget is really important to do before your kid goes to college.’’

One issue that makes such planning especially difficult is that young people are notoriously unprepared to deal with financial issues. “These are skills that need to be taught. We don’t learn this by osmosis,’’ said Leslie E. Linfield, executive director of the Institute for Financial Literacy in Portland, Maine. “We don’t automatically know how to use a debit card, how to use a credit card, how to manage cash.’’

Is it just me, or is the tone of this whole piece offensive in the face of the massive looting of the American people?

*******************

“This could be the kiddo’s first up close and personal lesson about the cost of living,’’ said June Walbert, a financial planner with USAA. “They need to understand that the lifestyle they enjoy living under Mom and Dad’s roof is not necessarily the lifestyle that they’ll enjoy while living away.’’

After the necessities are addressed, consider discretionary spending. Joining a fraternity or sorority is an option at many schools, but can come with a hefty price tag.... Most campuses also offer dozens, sometimes hundreds of clubs. While many can be free to join, activities may also give rise to additional costs.

Finally, whether your kid attends a top-ranked party school or a quiet campus, there’s always opportunities to spend money on fun. Costs here can again span a wide range - a night on the town near a Big 10 campus in the Midwest, for instance, will set a student back a far smaller amount than a similar night near an urban school.

I thought COLLEGE DRINKING was a PROBLEM!

Not here, 'eh, MSM?

Planning discussions must be candid, said Walbert. “I think that parents often coddle their kids when it comes to finances,’’ she said.

Now I'm offended.

And a plan’s first draft might have to be adjusted as spending patterns emerge.... Credit cards are one important issue that can’t be overlooked....

Snip, snip, snip!

According to the government-sponsored student loan company Sallie Mae, freshmen with credit cards end their first year of school with an average balance of $1,500.

Related: Student Loan Scam

Sweet Salle Mae Back in United States

While credit may be harder to come by because of the recession and tightening restrictions on marketing to students, parents must make sure their kids know how credit cards work and who will pay the bill before they get the plastic in their hands.

Where did all those trillions of liquidity go, huh, 'murkns?

See: So Just What Did Happen to all that TARP Money?

Credit cards can even be used to help parents and students keep track of where the money goes, particularly if the bills are sent back home. Barnes tends to use his credit card for almost all his spending, even small purchases....

Dickin' your own parents, 'eh s***-head?

And there are sometimes hard decisions to make, like who pays the tab for things like pricey, unexpected car repairs.... To cover his share of expenses, Barnes works part time at an REI sporting goods store near their Wayland, Mass., home during summers and school breaks, but he doesn’t hold a job during the semester.

Working while at school is another topic that should be discussed. Parents who don’t plan on having an open checkbook may want their kids to get a job, while some will be staunchly against any distractions from schoolwork. Students may be willing to juggle their time so they can have a bit of extra money, or may balk at having the extra responsibility....

All that for being taught lies?

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