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You are probably terrible with money. Credit card debt is at an all-time high, a majority of Americans can’t afford a $1,000 expense without going into debt, and even one third of people that earn two hundred and fifty THOUSAND dollars a year [$250,000] OR MORE live paycheck to paycheck. But is this a good thing for the small minority that do keep their spending in check? Or can we afford for everybody to be financially responsible?
If everybody was financially responsible there would be nobody left to spend money on disposable consumer junk, overpriced restaurant meals, leased pickups and day trading courses, but all of these purchases give other people a job. If YOU are being financially responsible, are you denying an opportunity to someone else to be financially responsible? And does that mean that you should be grateful to all the people living pay check to pay check? The average American is not in a comfortable financial position at the moment and it’s the same story everywhere around the world. Money that people saved up in the pandemic has evaporated and credit card debt has taken its place.
But how much of this is recklessness and how much of this is people who do not make enough money to keep up?
So it’s time to learn How Money Works, to find out if we can really afford for everybody to be financially responsible, and if we would even want that to happen.