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Money Talks News: The Woman with the Award-Winning Debt

Older Isn’t Always Wiser

Francine, now 62, is careful not to blame anyone else for her financial faults, but she says her parents didn’t help – because they were too thrifty.

“My mother never had a charge card, so I wasn’t raised knowing about credit,” she says. “If she didn’t have cash, she didn’t buy it.”

But Francine grew up in the era of increasingly easy-to-get credit, and that led to 13 cards and no self-control. “It just got easier and easier,” she says.

Her own children – a 42-year-old son and a 36-year-old daughter – have learned from both her mistakes and her advice. Still, “One of them I’m a little concerned about, but the other one doesn’t want to go where his mother has been.”

She prays her three grandchildren and one great-grandchild fare better financially. Her hope? “They start teaching this stuff in high school,” she says. “That’s when they need to learn” what she didn’t.

(iStock)

More from Money Talks News:
Ask Stacy: Where Can I Go for Help with Debt?
Dealing with Debt: Credit Counseling
Will Credit Counseling Hurt My Credit Score?



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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