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Why do I keep seeing high numbers of people with no savings in this day and age? What are the factors behind it? Is it just poor education not teaching people the importance of personal finance and savings from an earlier age?
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05-29-2018, 09:12 AM
(This post was last modified: 05-29-2018, 09:14 AM by jyy.)
A small income makes saving seem pointless. However, though, I'm sure certain people with bigger checks don't save either. How many people with fairly decent or large checks don't save? Any guesses?
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I think education is a big thing, kids aren't taught how to handle money really throughout school. I think that's important and something that needs to change in order to improve the situation.
Other than that, people tend to overspend and not have much money left month to month, paying high payments for rent, etc. They have very little left over so just splash the rest rather than just slowly building savings in small amounts.
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