93% of Americans
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I'm nitpicking (surprise), but I think your math is off - it's 72% rather than 93%. (60% of 47% of the population have at least 10K). Still, your point still stands - it's a scary number of people.
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I saw an article that a surprising (to me at least) high number of US people do not have a USD$1000 emergency fund. The article talked about an unexpected car repair, for example.
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A modest proposal...
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All schoolchildren in the U.S. must be required to have one-half semester basic home economics during high school - whether private, public or home-schooled - in order to qualify for a high school diploma or a GED. This course must include basic household budgeting, use of credit, loans and simple thrift and investing.
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All advertising on the public airwaves or on streaming services, will be limited to a maximum of four minutes per 30 minutes of programming.
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Payday loans are banned. Short-term loans will be a minimum of 30 days and a maximum of 365 days. Rates will be capped at 25% or 3x Prime Rate, whichever is higher.
And that's just a start...
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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A modest proposal...
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All schoolchildren in the U.S. must be required to have one-half semester basic home economics during high school - whether private, public or home-schooled - in order to qualify for a high school diploma or a GED. This course must include basic household budgeting, use of credit, loans and simple thrift and investing.
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All advertising on the public airwaves or on streaming services, will be limited to a maximum of four minutes per 30 minutes of programming.
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Payday loans are banned. Short-term loans will be a minimum of 30 days and a maximum of 365 days. Rates will be capped at 25% or 3x Prime Rate, whichever is higher.
And that's just a start...
@Jolly said in 93% of Americans:
A modest proposal...
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All schoolchildren in the U.S. must be required to have one-half semester basic home economics during high school - whether private, public or home-schooled - in order to qualify for a high school diploma or a GED. This course must include basic household budgeting, use of credit, loans and simple thrift and investing.
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All advertising on the public airwaves or on streaming services, will be limited to a maximum of four minutes per 30 minutes of programming.
-
Payday loans are banned. Short-term loans will be a minimum of 30 days and a maximum of 365 days. Rates will be capped at 25% or 3x Prime Rate, whichever is higher.
And that's just a start...
None of this could hurt. Some of the decisions I see people that I know in real life make are beyond belief. I used to work with a woman who refinanced her home over and over again to pay for her kids education and goodness knows what else. She lost it in 2008 when the market crashed. Somebody else has bought a massive house for just stupid money, a house he really doesn't need. There was somebody else who inherited a house from his parents and ended up coming to work with a different flashy car every other week or so - he actually ended up committing suicide years later.
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A modest proposal...
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All schoolchildren in the U.S. must be required to have one-half semester basic home economics during high school - whether private, public or home-schooled - in order to qualify for a high school diploma or a GED. This course must include basic household budgeting, use of credit, loans and simple thrift and investing.
-
All advertising on the public airwaves or on streaming services, will be limited to a maximum of four minutes per 30 minutes of programming.
-
Payday loans are banned. Short-term loans will be a minimum of 30 days and a maximum of 365 days. Rates will be capped at 25% or 3x Prime Rate, whichever is higher.
And that's just a start...
@Jolly said in 93% of Americans:
- Payday loans are banned. Short-term loans will be a minimum of 30 days and a maximum of 365 days. Rates will be capped at 25% or 3x Prime Rate, whichever is higher.
Support the CFPB. Until Congress gets around to passing laws closer to your outline, CFPB is your best bet to rein in the payday lenders and suppressing usurious interest rates.
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A modest proposal...
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All schoolchildren in the U.S. must be required to have one-half semester basic home economics during high school - whether private, public or home-schooled - in order to qualify for a high school diploma or a GED. This course must include basic household budgeting, use of credit, loans and simple thrift and investing.
-
All advertising on the public airwaves or on streaming services, will be limited to a maximum of four minutes per 30 minutes of programming.
-
Payday loans are banned. Short-term loans will be a minimum of 30 days and a maximum of 365 days. Rates will be capped at 25% or 3x Prime Rate, whichever is higher.
And that's just a start...
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If banks and loan companies can't make money, they won't make the loans. It's been a long time since I did a 90-day note, but it was understood going in, that interest rates are higher on short duration loans, even for people with good credit. Add in bad credit...
