Joe Kirkpatrick:


Writing Letter to The EditorJoe Kirkpatrick of Cleveland, Tennessee seems unaware that much of the country does teach personal finance in his letter to the editor. There are comprehensive courses offered in personal finance at all universities these days, but when somebody wants a house or car they usually are over trusting of the smooth talking real estate salesman or charlatan car dealer.

Joe also does not seem to grasp that knowing all the financial lexicon he mentioned does not help much because most buyers are stuck with whatever terms the seller stipulates with a take it or leave it sort of mentality. Also, he blames the educational system, when in fact the number sense of college graduates in the United States is around 3rd grade level in other countries. Students in the United States cheat in school so they will have more time to party and waste time on social media. Dumbass kids who screwed off in school deserve no better than a job at a fast food place.

Joe is right about the the exploitative nature of the payday lending industry. Title lending and paycheck advance lending companies should be more tightly regulated or just completely shut down. OneMain Financial has literally destroyed the lives of many ignorant country bumpkins while the owners of these places drive nice cars and live in the suburbs.

Being financially literate is great, but if you are poor it makes no difference since sellers will charge you high interest rates even if you are lucky enough to qualify for loan.

We should teach personal finance

Once again, new federal laws are being proposed for stiffer regulations for “payday” advance lending companies. Why are payday lending businesses so successful? Desperate people. Someone who uses a payday lender has likely already borrowed from every bank, finance company, friend and relative. They already know they cannot, or will not, pay it back. Where does the problem lie? We have more advanced math courses that are required, that the majority of graduates never use.(that is because the majority of the students do NOT belong in college to begin with) Where are the comprehensive courses in “personal finance management” that all students could benefit from? A car salesman told me when he tells a customer, “How does $380 a month sound?”(Thanks Joe for the example of another lowlife car salesman who sleeps like a baby at night knowing that he is screwing over ignorant low IQ people) most never ask, “How long the loan is for?” or “What is the interest rate?” Do you know what “points” are on a mortgage? If not, the educational system failed you, too.(You did not mention the harmful impact of payday lenders to credit scores)

Joe Kirkpatrick, Cleveland, Tenn.


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  1. Speaking of deceptive tactics practiced by car salesmen, I am surprised that college graduates put experience working at car dealerships on their resumes or CV. A young data scientist(earned his masters degree at Texas Tech in Lubbock) named Heath McCasland proudly listed his experience as an internet sales manager for Gene Messer Ford/Lincoln on his online resume.

    My sister was ripped off big time by smooth talking salesman there. Not saying it was Heath McCasland, but whoever it was screwed her over with this balloon payment gimmick. She had asked the salesmen for a deal that would lower her monthly payment. She got the low monthly payment, but it was not until 4 months later she realized she would still owe $6000 after the 5 year finance period!!! They never told her about it and when she tried to get out of it, they told her that the salesman had informed her of the balloon payment condition. Has anybody else been ripped of like that? Would like to know if you have.

    Read the excellent commentary of financial analyst Mark “Bark M.” Baruth for the legal scam known as a balloon payment.

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