Comments on: My Life as a Volunteer Tax Preparer – Ch. 2.6 http://toughmoneylove.com/2010/03/09/volunteer-tax-preparer-ch-2-6/ The Hard Truth about Money and Personal Finance Fri, 24 Feb 2012 15:57:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: kitty http://toughmoneylove.com/2010/03/09/volunteer-tax-preparer-ch-2-6/comment-page-1/#comment-7548 kitty Sat, 13 Mar 2010 04:10:12 +0000 http://toughmoneylove.com/?p=5392#comment-7548 “I’m guessing that his lack of education and reading ability contributed to a lack of financial self-control.” I have to agree with Gail here. A lot of "financial self-control" is really common sense (which unfortunately is not that common). One can be over-educated and have no common sense, and some uneducated people have pretty good common sense and hence money behavior. I admit mine is completely anecdotal experiences, and I've no idea of how it works out for groups. But I did know a guy back in the early 90s with a PhD in Math who lost his house to a foreclosure and whose car was reposessed and who was borrowing money from an Eastern European live-in nanny... “I’m guessing that his lack of education and reading ability contributed to a lack of financial self-control.”

I have to agree with Gail here. A lot of “financial self-control” is really common sense (which unfortunately is not that common). One can be over-educated and have no common sense, and some uneducated people have pretty good common sense and hence money behavior.

I admit mine is completely anecdotal experiences, and I’ve no idea of how it works out for groups. But I did know a guy back in the early 90s with a PhD in Math who lost his house to a foreclosure and whose car was reposessed and who was borrowing money from an Eastern European live-in nanny…

]]> By: Snowy Heron http://toughmoneylove.com/2010/03/09/volunteer-tax-preparer-ch-2-6/comment-page-1/#comment-7538 Snowy Heron Thu, 11 Mar 2010 15:35:58 +0000 http://toughmoneylove.com/?p=5392#comment-7538 I love these stories about the long term results of people's financial behavior. They really teach us a lot. I love these stories about the long term results of people’s financial behavior. They really teach us a lot.

]]> By: Brian http://toughmoneylove.com/2010/03/09/volunteer-tax-preparer-ch-2-6/comment-page-1/#comment-7535 Brian Thu, 11 Mar 2010 02:08:48 +0000 http://toughmoneylove.com/?p=5392#comment-7535 " He added that he couldn’t get a credit card either. He said it in a way that suggested that he would be borrowing like crazy if he could." If you have read the situation correctly then I think that maybe his need to spend could stem from his only entertainment choices being TV and radio. ” He added that he couldn’t get a credit card either. He said it in a way that suggested that he would be borrowing like crazy if he could.”

If you have read the situation correctly then I think that maybe his need to spend could stem from his only entertainment choices being TV and radio.

]]> By: Gail http://toughmoneylove.com/2010/03/09/volunteer-tax-preparer-ch-2-6/comment-page-1/#comment-7534 Gail Wed, 10 Mar 2010 19:26:31 +0000 http://toughmoneylove.com/?p=5392#comment-7534 "I’m guessing that his lack of education and reading ability contributed to a lack of financial self-control." I tend to disagree--if financial health was truly correlated with educational attainment and literacy level, this country would be in much better shape! I believe financial self-control is linked to psychology, upbringing, and personal values more than anything else. And not knowing the circumstances of this man's bankruptcy (medical bills?) it may an unfair assessment. Undoubtedly despite his good income his illiteracy has made his life a difficult one. “I’m guessing that his lack of education and reading ability contributed to a lack of financial self-control.”

I tend to disagree–if financial health was truly correlated with educational attainment and literacy level, this country would be in much better shape!

I believe financial self-control is linked to psychology, upbringing, and personal values more than anything else. And not knowing the circumstances of this man’s bankruptcy (medical bills?) it may an unfair assessment. Undoubtedly despite his good income his illiteracy has made his life a difficult one.

]]>