Saturday, December 20, 2014

Graduating Class Wealth

I received my yearly request for donations from the little college I had attended for two years, before transferring to a Mega-University on an athletic scholarship, back in the early 1980's and, naturally, I still couldn't make any meaningful monetary contribution, due to various bad career decisions and countless other economic obstacles through the years.

I did find it interesting however, to compare the top five contributing classes and their rank, assuming this was a reflection on their relative financial success since graduation, as compared to other graduating years in the continuum.

Here are the current rankings:

First place was class of '68. No surprise here. They've had a lot of time to earn the big bucks and saw great benefits from the industrial boom era.

Second place was the class of '78. 1978 was the best year ever actually, according to this article: 

Third place was the class of '73. Very good.

In fourth was the class of 1988, just in time for the economic recovery from the recession of the early 1980's.

Fifth place was my class, 1983, which does not surprise me. I know of very few in my class who went anywhere, really. We came after the industrial and baby booms and before the tech boom. A lost generation.

Saturday, December 13, 2014

Don't Trust Dick's

I made a fairly large Xmas purchase at Dick's Sporting Goods recently and let the cashier talk me into applying for a Dick's credit card in exchange for a $25.00 discount, on the spot.

Now I'm old enough to know that credit cards can quickly build up interest charges and late payment penalties, if you forget about them for any length of time. So, I made a mental note to pay that thing off as soon as the physical card came in, which I did.

So what do I get in return for being a responsible consumer and paying my bills on time? A $25.00 charge on my next statement. So the $25.00 discount is a big, fat lie. And I suspect that this is the scam at every big retailer, when they make this offer, so, unless you need another credit card, say no at the register, because you will pay, one way or another, for any favors they may offer you.

Keep an eye on these banks and credit card companies. They are designed to rob you blind. Put that money under the mattress.


The best cure for credit card fees