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The moment I became financially independent, I started spending. Little did I know I had no training on how to spend. I think kids should be taught how to manage their finances in school! That should be the most important subject, not the Pythagorean theorem. It's like, "Hey kids, don't worry about your credit card bills as long as you know all about the complicated relationship between the sides of a triangle." I mean, what the actual f*ck!
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We might be privileged in a lot of ways but not when it comes to our financial situations. Compare us to the actual poor layer of society and yes, we are "entitled and spoiled." But compare us to our counterparts in developed countries who don't work half as much as we do or are half as qualified as we are, but are paid a fortune, then no, we are not "entitled and spoiled", we are helpless.
Why is the youth suddenly out of cash? One half of the explanation is the growing and unprecedented mobility of the youth for education and jobs. This is partially related to the decision of a section of the middle-class youth to live outside the guardianship of their parents and family members. This social freedom is not entirely synchronized with a financial one, and therefore the problems. The other half of the explanation is the ideological structure(s) we are under, in general.