Comments by "SmallSpoonBrigade" (@SmallSpoonBrigade) on "The Dos And Don'ts Of Prepping For A Recession" video.

Never, ever co-sign on a loan. If the bank or lending institution wouldn't issue the loan, why should you? If for some reason you do want to help out, or think they will pay, you're better off just lending them the money yourself. As a co-signer on the loan your credit score also takes a hit when the loan isn't paid on time and after a period they can go after you for whatever wasn't paid.
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The only reason it hasn't been declared is politics. But, it's already been multiple quarters of contractions. We just haven't had significant layoffs yet.
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@Victoria-ot5om And even if the borrower does pay, it may mean something like the amount being paid is excessive. My parents cosigned on a car loan for my brother. He did make all his payments on time, but he also massively overpaid for the car. They should have gone back to the dealer and said no, we'll only pay what the bank will lend, or something less.
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@04beni04 Yes and on that topic, please don't charge less than double minimum wage. Charging much less than that means that you're either not paying the taxes you're supposed to be paying, or you're making less than minimum wage. Depending on where you're located, taxes can eat up half, or possibly more, of the money the students hand over. Social security and medicare taxes alone will be double when working as an independent contractor. Also, charging too little can be bad for the students as they shouldn't be developing a dependency or coming to sessions unprepared.
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@jcg03002 What we pay attorneys in public service, especially the ones working as public defenders, is a travesty. In most states you're legally required to attend law school before passing the bar before being allowed to practice, which is an extremely expensive proposition. Even in states where you just need to pass the bar, that is a ton of time and effort and probably cutting back on how much you can work to manage.
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