10 Unpopular Opinions About Personal Finance

(Photo: elle_rigby)
I frequent various message boards and one meme that’s a constant is…”Unpopular Opinions About…<insert topic here> This could be about hair, makeup, purses, you get the picture. So this time I will add 10 unpopular opinions about personal finance here. Keep in mind these are UNPOPULAR opinions about personal finance. This isn’t necessarily how I feel about it, but Ive had enough conversations about it to know they float out there. So please, fall back on getting froggy in the comments and link backs.
Edit: One blogger has already decided that I want a handout from the government. I am simply inspiring discussions, not running to the government trough with my hands out :0)
1. Given the present state of the economy, people should be able to walk away from their homes if they are “under water” by a certain amount without penalty.
2. I think the government should pay off either student loan or mortgage debt for every working individual who pays taxes. Why? We have been screwed with no luble over the last 8 years and paying for it now.
3. Every woman should know what a pre and post nup is and how it affects her position in a marriage.
4. We should have forced savings and retirement, as in penalties if you’re not saving at least 10% of your income and 75% of the $15,500 limit for retirement. There should be special incentives in place in order to give people something to work towards.
5. There should be one credit score. Why do we need three bureaus? Especially when we don’t have access to all three anymore. Experian recentlybroke ties with Fair Isaac which means we no longer have access to our Experian scores.
6. Healthcare and education through college should be free. Why? On education, I think this would open doors for many who are unable to go to college due to financial difficulties. Quality healthcare shouldn’t be a priviledge, but a right. Of course, this is just my opinion.
7. Utilities should be capped at a certain amount based on household size because of the recession.
8. Payday loans should be banned.
9. Wall Street CEOs salaries should be tied to company performance. If the company tanks then their bonuses should be divided up between all the employees and put towards their severances. They get $0. Bailout $$ or not.
10. The latest stimulus bill should have focused more intently on keeping homeowners in their homes, halting foreclosures and forcing every bank that issued a mortgage in the last 5 years to modify all loans at the request of borrowers regardless of whether or not they can find the original note. If they can’t find the original note then the homeowner shouldn’t be subjected to paying the mortgage.
Bring it!













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