Maybe they shouldn’t be taking on debt? Maybe they should make better decisions for themselves? Boo Hoo. Welcome to life.
The average national debt per citizen is >$64,000
The average national debt per taxpayer is >$174,000
And rising
The average personal debt per citizen is ~$58,000
The average personal savings is ~$4000
The debt burden on our children and grandchildren is a rapidly rising millstone around their necks, the evidence of this is everywhere
“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?