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A credit card is the “quickest way for young adults to build good credit”—and it’s also the “quickest way to destroy a young adult’s credit.”
So says Sharon Lechter, a CPA and co-author of Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money–That the Poor and Middle Class Do Not.
Lechter was quoted in an Arizona Republic story about how student loans, credit card debt, and a “lack of financial savvy” are crippling consumers in their 20s and 30s.
Most middle-school kids have better things to think about than whether or not they’re members of the 1%. But one Los Angeles charter school upped the ante on the usual social anxieties of its annual dance when it installed a “V.I.P. lounge” — with a separate cover charge. On top of the $15 dance admission, students — or, more likely, their parents — can choose to pay an additional $5 to be a cool kid — excuse me, get access to a special “V.I.P.” area.
To prevent drunk driving, AAA clubs around the country are offering free rides to folks who’ve celebrated too much to safely get behind the wheel over Memorial Day weekend. They’ll also tow your car home—again, free of charge. Amazingly, the service is available even if you’re not a AAA member.
