This module takes us on the journey of Anthony’s choices during different stages of his life.  During each stage, Anthony learns a little more about the differences between good debt and bad debt.  You will be able to analyze his situation and decide if you agree or disagree with his decisions.

Check out this new educational module on our Anti-Debt Education page.

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Volunteer or Donate to Help Convince More People To Stay Away From Debt.

Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

These numbers should help the Consumer Debt Clock to continue to go down.  How much more can we, as a nation, continue to drive the clock down?

Does this mean that our educational ads are working?

For more info on the Federal Reserve’s numbers, click here.

To add the Consumer Debt Clock to your blog/website, click here.

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Volunteer or Donate to Help Convince More People To Stay Away From Debt.

Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

Here are the articles, I used for this week’s show.

Skyrocketing Consumer Debt by Keith Vance

Students not following national credit card use trends by Jeffrey Saulton

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Volunteer or Donate to Help Convince More People To Stay Away From Debt.

Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

Our three slogans for this “Back to School Debt Protest” was:

• We will not go into debt buying Back to School products.
• Just because it is on sale and it is for our kids does not mean I have to go into debt.
• Debt does not lead to happiness!

This protest was different than the last time, because I wore a jail-suit costume.  I hope that it helped visualize the confinement one is in when they are in debt.  I got many glances and curious looks.  I hope our message that happiness will not come through more debt will resonate and motivate people to stay away from debt.

To help us get this message out further, consider becoming a

BDO Ambassador.

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Volunteer or Donate to Help Convince More People To Stay Away From Debt.

Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

Can you name some other reasons?

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Volunteer or Donate to Help Convince More People To Stay Away From Debt.

Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

We encouraged people to not overspend and to stay away from debt by passing out literature and getting more exposure to our slogan, “Debt does not lead to happiness.”

It was a good experience to reach out and interact with people about a sensitive issue that needs more attention and positive action.  We will start doing these once a month, just like we do our Debt Protest.

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Volunteer or Donate to Help Convince More People To Stay Away From Debt.

Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

At 8am on 1 July, I went to NCSU to help educate the students and parents attending the NCSU Freshman Orientation about personal debt.  There were many groups of parents and students being led around the campus to show them where their son or daughter would spend the next 4 – 5 years of their life.  I went there to protest personal debt and to raise awareness of the affects of debt on our lives.  The motivation for this promotion came from a book and a supporting article I read that questions the traditional view that education debt at any cost is worth the price.  The book Generation Debt and the article Is a college degree worthless? make strong arguments for more financial education to young people and their parents about the effects of education debt may have on their future career and financial potential.

I was only able to staple up about 15 posters.  I agree that is not a lot of promotion considering the amount of freshman and parents that will come through the campus and may see the posters.  I am hoping some will see the posters and it will raise the level of discussion about personal finances and the affects of personal debt on their lives.  It was interesting to see how the school allows front row positions for the banks and loan officers in the student union, but no financial education groups were allowed in the student union to balance the bank’s marketing.  It just seems personal debt and overspending is just a part of our social fabric.  For now.

The higher incomes that college education brings may not make up for the savings it consumes or the debt it adds early in the life of a typical student.

Consider two childhood friends, Ernie and Bill. Hard workers with helpful families, each saves exactly $16,594 for college. Ernie doesn’t get accepted to a school he likes. Instead, he starts work at 18 and invests his college savings in a mutual fund that tracks the broad stock market.

Throughout his life, he makes average yearly pay for a high school graduate with no college, starting at $15,901 after taxes and peaking at $32,538. Each month, he adds to his stock fund 5% of his after-tax income, close to the nation’s current savings rate. It returns 8% a year, typical for stock investors.

Bill has a typical college experience.  Bill will have higher pay than Ernie his whole life, starting at $23,505 after taxes and peaking at $56,808. Like Ernie, he sets aside 5%. At that rate, it will take him 12 years to pay off his loan. Debt-free at 34, he starts adding to the same index fund as Ernie, making bigger monthly contributions with his higher pay. But when the two reunite at 65 for a retirement party, Ernie will have grown his savings to nearly $1.3 million. Bill will have less than a third of that.

How can that be? College degrees bring higher income, but at today’s cost they can’t make up the savings they consume and the debt they add early in the life of a typical student. While Ernie was busy earning, Bill got stuck under his bill.

I’m not arguing against higher learning but for it — and against the degree system that stands in its way.

Jack Hough makes a compelling argument to the traditional argument that education at any price is worth it.  He argues that the debt being piled on young people under the current educational system may not be worth the education.  His research has found that under average conditions you will have more when you retire if you do not take on the debt of education and instead start saving as we should at an early adult age.  It is something to consider now that Back to School sales, Freshmen Orientations are swinging into gear, and the traditional marketers and loan officers are selling our young people and their parents on the need for more debt in the name of higher education.

It is a tough discussion and many aspects to the issue.  However, young people need to be made aware of all the information, so as young adults they can make informed decisions.  This decision will have huge impacts on the rest of their life no matter what they choose.

To read more on this article, click here.

If you are against excessive debt in the name of higher education then join the Students against Debt online forum to discuss ways to accomplish a great education without much debt.

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Volunteer or Donate to Help Convince More People To Stay Away From Debt.

Show others how much you’ve beaten debt
for the price of one latte a year. – – Beating Debt Charts

Show others how much you’ve beaten debt

for the price of one latte a year.

For more information, click here.

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GoodSearch for BeatingDebt.org
http://www.goodsearch.com/?charityid=877125
and other opportunities.
Volunteer or Donate to Help Convince People To Stay Away From Debt.

BeatingDebt.org will be selling the Budget Register for $3 or bartered for 2 Volunteer Opportunities.  Please consider purchasing a copy of this Excel file to help organize your finances and know exactly how you are doing on your monthly budget.

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GoodSearch for BeatingDebt.org
http://www.goodsearch.com/?charityid=877125
and other opportunities.
Volunteer or Donate to Help Convince People To Stay Away From Debt.