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Money and Finances
Reply to "Wow the lack of financial education in this country is staggering"
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[quote=Anonymous][quote=Anonymous]I was watching a show and people were calling in regarding their finances. This one lady in her 60s wants to buy a home, rolled over negative equity from an old car loan into a new one and she doesn't know how much she owes ...wow just wow [/quote] Last year my BIL took out a $150K 30-year home equity loan and used $50K to update his kitchen and the remaining $100K to buy a Tesla Model X. He keeps patting himself on the back: kitchen upgrades always pay off; gets to deduct interest on a “car loan”; will save tons of money on gas and maintenance. People are stupid. He didn’t even use some of the money to add a Level 2 car charger. lol![/quote]
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