One Fourth Have More Credit Card Debt Than Savings in The Bank

[bjl584]

http://www.cnbc.com/id/100490282

[Joan.of.the.Arch]

"One of my clients had $400,000 in credit card bills. He came to me because it was impeding his ability to fuel his jet. The credit card companies would not allow him to charge his fuel anymore,"

They threw this in at the end just to make me smile smugly. When was the last time I couldn't fuel my jet because the credit cards were maxxed out? Nevvah! I must be doing just fine.

[VanReb]

There seems to be a very clear divide between those who avoid credit card debt like the plague, and those who are drowning in it.

[Copper]

This is not very good to act like this. These gonna make a severe economical crisis to both the customers and the banks. Banks also needed to be strict.

[mans442]

How much is Jet Fuel per gallon these days?

[JoeP]

Many here, present company included, have floated the idea of mandatory financial education, even just basic concepts, in public schools. Equipping our children and young adults with basic financial knowledge gives them the tools to evaluate and even manage financial situations.

I find it interesting that school districts in my area make a second language mandatory starting in 7th grade. The potential exists for us to have young adults who can speak fluent French, yet end up making financial missteps that can put them into a lifetime of debt.