Financial periodicals and magazines love to run articles that try to diagnose a family’s financial problems. They will start off by listing the assets and liabilities of the family, and then they turn to a certified financial planner (that sounds so official when you read it) to remedy the situation. The problem is that they never target the main problem which is that the family has $15,000 in credit debt and a $30,000 home equity loan. Their poor portfolio mix is always more important than the fact that they have $50,000 in consumer debt. This is absurd!
Erik FolgateErik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.
