Quote:
Originally Posted by simmer2
Our education system is fundamentally flawed when we aren't taught simple things like what an RRSP is, how to balance a cheque book, the impact of compound interest on things like credit cards, etc. It's amazing how many people still carry a fair bit of credit card debt out there. Paying off that debt would be like earning 50% Rate of Return (pre-tax).
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If I had a dollar for everytime someone have told me, "I bought $1500 worth of RRSP's this year". When I ask them, what did you buy, stocks, bonds, mutual funds, keep it in cash...they have no idea what I'm talking about.
Than again it does seem that a lot of people are more concerned with how much the payment on something is, rather than how much money the item is actually costing them.