On 1/9/2016 8:14 PM, Ed Pawlowski wrote:
> On 1/9/2016 5:18 PM, Nancy Young wrote:

>> But the fee was so painful, it hardly ever happened. People who
>> bounce checks are mostly people who really cannot afford those fees.
>
> I just checked my bank and the fee for a bounce is $37. Maximum of 5 in
> a day though since they have a big heart.

Yikes. And they arrange it so you get hit with the maximum number
of insufficient funds. I don't know if that is still legal.

>> I've heard people say they only have $30,000 in credit card debt.
>> Ack. I haven't led the perfect financial life and have made many
>> mistakes, but I knew when to stop digging that hole.
>>
>> They need to teach personal finance in the schools.

> I cannot imagine that much. Years ago I had some debt but I looked at
> the interest charge and worked hard to get rid of it. Interest on a CC
> is just throwing money away.

It's like being on a treadmill, you never seem to get ahead of it.
Some people wind up like that because of some awful thing, but most
people it's just from buying stuff.

> Sure, it is handy to spread a big sudden
> charge over a few months, but it is not a way of life. Same as people
> that use their home equity like and ATM and got sunk when things went
> sour a few years back.

I think some people just thought that was normal, it seemed to
be encouraged everywhere you looked. There was even a tv show
about fixing up your house so you improved the value so you could
borrow more against it.

Mind boggling.

nancy