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Don't learn how to do a budget. we don't learn how to do our taxes. we don't learn about credit scores. it's incumbent on parents to teach their kids about this in the home. we don't have to be hard on ourselves but we canterbury our heads in the stand just because we didn't learn it in the past doesn't mean rescrew up our future. ainsley: 6% believe missing parents would increase credit score. 17 percent said missing payments could have no affect on their score. 36% have maxed out their cards. 45% didn't know their credit card interest rate. i've been in debt before it is extremely stressful....

Percent. >> it is not the same people. oprah went from the bottom to the top. >> sure. >> so did sam walton. >> the product takes jobs. what did he create? it is what every one of us have in our pockets. we have a smart phone. wealthy people, poor people everybody has this. this is a great equalizer. capital of the one percent is going into products like this. why would you penalize that? >> i think there are serious problems with this book. one for example he says the rich automatically get richer. that is so much bologna. there are so many examples. he uses the forbes 400 richest list. those...

But the kind of 10%, 10-year maximum that i'm suggesting i think would be a better solution. i think it's very important to make sure that all students at the end of 10 years of full-time employment get rid of debt obligations. can compounding interest we have seen many students. say you graduate with a $26,000 debt. you actually through compounding the interest payments on the debt you end up paying $28,000, not just 10 years but 15 or 20 years. it is a huge burden for far too many students for far too many years. >> it is so great to have you on this. when i reported on msnbc.com i got an ou...

Student loan debt. with student loan debt you can defer payments like you don't have a job for example. credit card debt not as flexible. you might consider as far as the student loan debt goes extending that outgoing for a longer period so you can free up monthly cash to pay the credit card debt. >> thinking of college you are not thinking of retiechlt. >> you have to start as soon as possible you get the first job sign up for the 401 k you reduce tax liability saving for your future. matching 50 cents on the dollar up to 6%, free money. you at least want to contribute enough to capture -- >>...

Accumulation is robbing from our children that. scares me. >> our economic system money equals debt this, is the problem. people don't think about this, as lng as money equals debt we're borrowing money from china to pursue the war with iraq we're going to have more debt. the compounding interest on the debt is growing so go back to 1913 private ties money supply. put the debt on the government. we've got to take back article 1, section 8 gave the government power to be able to move the economy forward and too spur the private sector. i don't believe in increased taxation to get economy going ...