“Maybe they shouldn’t be taking on debt? Maybe they should make better decisions for themselves? Boo Hoo. Welcome to life.”
In their defense, have their elders adequately explained the concept of debt or the consequences?
I’m an X-er, and my parents played with debt like it was a “get out of a tight spot “ free card. I also saw tons of ads for home equity loans, saw retail stores in the 90s push store charge cards as you walked through the door, was receiving credit card offers in the mail when I turned 18, and was handed a FASFA form in class to fill out.
It was only by the Grace of God, and Dave Ramsey that I veered off that highway and dont have any of that crushing debt.
But are these kids that fortunate? Can we just call them stupid or are they just being “normal”?
A normal that leads to desperation, that leads to socialism?
Debt: Trading current consumption for future labor
Trading one’s birthright for a pot of stew
Genesis 25:29-34
29 Once when Jacob was cooking stew, Esau came in from the field, and he was exhausted. 30 And Esau said to Jacob, “Let me eat some of that red stew, for I am exhausted!” (Therefore his name was called Edom.[a]) 31 Jacob said, “Sell me your birthright now.” 32 Esau said, “I am about to die; of what use is a birthright to me?” 33 Jacob said, “Swear to me now.” So he swore to him and sold his birthright to Jacob. 34 Then Jacob gave Esau bread and lentil stew, and he ate and drank and rose and went his way. Thus Esau despised his birthright.
Maybe they should learn to read.