I'm referring to the overwhelming number of people filing for Bankruptcy every year. It's good in a way. It really makes those of us that do pay our bills on time to really stand out.
2006-06-20 05:05:15 · 7 answers · asked by Dan 3 in Business & Finance ➔ Personal Finance
Our schools do very little to teach students how to manage their money. So they go out into the world with only their parents' example to guide them, and they're bombarded with advertisements to buy, buy, buy, and don't worry, just put it on your credit card! So they go broke because they don't know any better.
Schools should teach money management!
2006-06-20 06:00:03 · answer #1 · answered by rainfingers 4 · 0⤊ 0⤋
It took me a long time to fix my finances and get out of debt and I am still learning. My parents lived paycheck to paycheck and we did not talk about money. Most american families are struggling and money is a sore subject because it leads to arguements. therefore most children are not taught personal financial management aka not borrowing from peter to pay paul. In school children are shown how to count change then in high school they learn to write checks, but most children are not taught how to come up with a budget and stick to it like you need to do when you are an adult to avoid things like judgement and bankruptcy. For the children who are raised in families where money is not a tough issue...well lets just say that a lot of them get anything they want handed to them so they do not understand the value of money and if they are an adult and mom and pop are not longer giving them what they desire they turn to the charge cards. I personally was not taught about a budget until I was required to take a course pre and post bankuptcy.
2006-06-20 19:57:34 · answer #2 · answered by hockeywoman2005 1 · 0⤊ 0⤋
Quite honestly, I think that it is because of the way that we are perceived. We are considered quite a rich country, and that goes to a lot of people's heads. It is also the way we've been brought up, and the media. There are always commercials about how to get out of debt, where to get all sorts of financing and so on. In a way, it's sort of what is expected of us. We make more money just to put out more money than we make. Our society in general(not everyone) does not think about (or care to) save money in case of an emergency. Therefore, when one does come up, we don't have the money to pay for it.
2006-06-20 12:25:21 · answer #3 · answered by crosss1219 1 · 0⤊ 0⤋
This question made me laugh. I think people want to live "the American Dream" before there checking account will actually allow them to do so. That is where all the credit card debt comes from.
Some people should use guidelines such as...
-your car shouldn't cost more than a year's salary (that's easy)
-pay more than the minimum balance due on your credit cards each month..
Just kind of blabbing but hope I helped. It's all about perception and patience.
2006-06-20 12:10:54 · answer #4 · answered by kaliraized 2 · 0⤊ 0⤋
What can we say, americans love to spend money on material things whether we have the money or buy on credit!
2006-06-20 12:08:48 · answer #5 · answered by tiny1 2 · 0⤊ 0⤋
People expect the government to bail them out of everything!
2006-06-20 12:58:00 · answer #6 · answered by ps2754 5 · 0⤊ 0⤋
NOT PLANNING AHEAD.
2006-06-20 12:49:25 · answer #7 · answered by Samantha 4 · 0⤊ 0⤋