Sometimes the racing pays off. The Jackson’s oldest child got a full academic ride to nearby Hood College, based on her grades and her track team and student government activities, her mom says.
The question is, Can middle-income families afford the price of getting ahead? I weigh in during the segment.
Read the interview, or listen to it here.
Fail to Plan and You Plan to Fail
For last week’s Color of Money Question, I asked: “What financial foolishness made you become money smart?” Here are some responses from some of my social network friends.
Johanna @AVGJOhanna tweeted: “OMG I padded my student loans for non-necessities. BIG REGRET #financialfoolishness rude awakening at repayment.”
“Borrowing from a 401k is #financialfoolishness,” tweeted Pennies & Millions @PenniesMillions.
Sally @sheaven tweeted: “ran up $3,000 in credit card debt on stupid stuff in my 20s, parents bailed me out. Will never do again. #financialfoolishness”
D.O.A@shaqr69 added: “lending moni [sp] to friends.. #financialfoolishness.”
On my Facebook page, I asked readers, “Would you would speak up if a relative was planning to marry a financially foolish person? Is it our responsibility to help friends and family see what they can’t see?”
Savitri Helpingpeople Crenshaw wrote, “I’m a licensed financial analyst and I attempt to help my ‘friends and family’ daily. However, they have so much pride about their own personal financial situation that it becomes ‘easier’ to help a stranger. Yet, my heart desires to help those that I know first before those whom I don’t.”
Tia Lewis contributed to this report.
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