Quote Originally Posted by El Kabong View Post
Could be bad luck, could be poor planning, could be a misunderstanding of the way the system works, could be somebody stole from you and put you in a hole you can't climb out of.


I think a lot of it has to do with A#1 being able to refrain from the Veruca Salt mentality "I want it now" and delay gratification and #2 not getting yourself into massive debt to begin with and the main culprits of that are A ) COLLEGE and B ) CREDIT CARDS ......and I'd also say Debit Cards don't help either from a psychological perspective it's not like a transaction with cash where you count the bills out and receive change it's just numbers on a card which are easier to lose track of.



Financial IQ is uncommon sense these days and ever since the government took control of student loans look at where the tuition prices have gone and value for money fucking forget about it college degrees are more and more worthless.
Two solid arguments there. After years of schooling and no financial education, what do schools do? They say 'You must go to University for your future'. You have no idea what you want to be and suddenly an adult child is now signed up to tens of thousands of debt and banks throwing cards and overdrafts out like confetti. That's somewhat dangerous and good schooling and parenting would have educated the child about those things. It doesn't happen.

I like the Salt analogy. I cannot believe anyone in the US would study in the humanities and come out 200,000 dollars poorer. Quite surreal.