All, and I mean ALL, the youngsters I know, and I know at least a dozen, will always be broke because they are financially illiterate. Thanks to financially illiterate Gooferment Skrules, parents, and relatives.
Despite having suggested it often — to the point of making myself bored — not one of them, NOT one, has set up any kind of a sinking fund bank account.
Case in point, a certain young lady was give a car. I strongly suggested that she take the cost of the car ~18k$ and divide it by an estimated life of 70k miles which would translate to ~26¢ per mile. Then, she should deposit each week an amount equivalent to number of miles driven times 25 cents. (Even the Gooferment Skrules mathematically challenge can divide by four for the number of dollars to be “saved”.)
Never did it and guess who’s car just clocked 70k miles? And, now guess who’s in a quandary as repair bills start to come in (i.e., tires, brakes, belts, etc. etc. etc.).
And she is not alone. EVERY one is in the same boat.
Financially illiteratacy “costs” lives, happiness, and relationships.
Nie mój cyrk, nie moje małpy . . . literally, “not my circus, not my monkey;” figuratively, “not my problem.” — Polish saying
And I am the grumpy old cynic!
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