Financial literacy foundation donates $1 million to EEI, Inc.

I am really proud to have helped make this happen. As Donald Trump would say, "This is huge!"  I have supported EEI for years with time and money, because the financial literacy and entrepreneurial education of young adults is so important in today's society.

The Jonathan D. Rosen Family Foundation (JDRFF), dedicated to improving financial literacy, today announced a contribution of $1 million to Economic Empowerment Initiative, Inc., a 501(c)(3) also known as EEI, Inc.

The commitment will enable EEI to pursue challenge grants with a value of up to an additional $2 million over the next four years as well as to support their existing financial literacy and entrepreneurship...

Read the entire press release at Atlanta Daybook.

The best fan letter ever

 

Today I received the following letter from a recent college graduate. After reading it, there was no doubt in my mind that every minute I devote to helping people, especially young adults, to maintain good credit is worth it. Thanks, Jillian, for the inspiration and encouragement to continue this blog.

Dear Mr. Kevin D. Johnson,

I haven't yet had the pleasure of meeting you so please let me introduce myself. My name is Jillian. I just wanted to say thank you for your website NewCreditRules.com.

I have yet to ever apply for a credit card for fear of losing the game to unwritten rules. As a first generation college student, I did not have the privilege of financial knowledge nor assistance from my family. I worked full-time to support myself and my collegiate career while avoiding credit cards like the plague. Now I'm a recent graduate embarking on the real world realizing what many already knew, credit was a 'necessary evil'. Banks and credit companies are very friendly in giving you limited information (key word: limited), but thanks to your website I'm able to start off on the right foot in the credit world with the knowledge and "know-how" to protect myself and my family.

It may seem odd, but just know that your efforts and actions are greatly appreciated.

Warm thanks,
-Jillian
"Credit Freshman"

I’m credit card debt free, finally

Crapulous. Yes. It’s a word, and it’s the first word that comes to mind when I think of our nation’s excessive, self-obliterating appetite for easy credit during these past few years. In many cases, we consumers are to blame for the economic implosion, not the big banks which cry in their defense “we simply supplied a demand.”

Before you accuse me of siding with the likes of Lloyd Blankfein or sounding self-righteous like President Jimmy Carter in his scathing “malaise” address to the nation on Jul. 15, 1979—about two months before I was born, by the way—hear me out. 

At some point, we consumers have to take matters into our own hands and become totally responsible for our financial welfare.  And I don’t mean that in a revolutionary, militia-like, or tea party way. It’s easier than that.  Simply put, we must rid ourselves of dependence on credit in all aspects of our lives. 

Credit where credit is due

Every now and then, in order to countermand what one may misconstrue as an overwhelmingly negative blog, I share an entry of praise.  Below is a letter I wrote today to a market president of Wachovia, a division of Wells Fargo & Company.

Wachovia will be missed

Despite what it seems, this site is not dedicated to brooding over and complaining about rogue banks, rapacious credit card companies, and shoddy credit bureaus.  It just so happens that—and you don’t have to be a marketing guru to know this—people are more likely to tell others about bad experiences. This site is no different.