None of us is immune to falling victim to a scam or it wouldn’t be such a widespread, lucrative business. It is easy to get caught off guard. Identity theft can be accomplished as simply as someone getting information from your charge receipt or stealing your credit card. But, as more safeguards have been implemented, thieves have become more sophisticated.
You’re young, healthy and happy, and you’re busy with career, family and home. Let’s face it, you’re in the prime of your life, and probably feel like you’re going to live forever. I’m sure you have made statements like “We need to get a will someday.”
College is a busy time for young adults. With classes, research projects, part-time jobs and dating, most college students are more concerned with their GPAs than their credit scores. It’s pretty easy to make some really dumb mistakes that can harm their all-important credit score, which can cost money later on when it’s time to get a car loan, mortgage or even a job.
Have you thought about what your grandkids will do with any inheritance they are lucky enough to receive from you? I’m sure that some of you have lost sleep over this. Will they know how to handle money? Maybe they will just go on spending sprees or throw lavish parties for their friends? Are they spenders or savers? You’ve been driving that 1982 clunker all these years — will they go out spend all their money on an expensive sports car that will depreciate by 50 percent in three years?
Last month, the American Medical Association announced that obesity would now be classified as a disease. The first thought that came to my mind was “What about personal responsibility?” Then, I was struck by the similarity between obesity and family finance, and how over-indulgence and lack of education in either is a recipe for trouble.