Was this ever confusing. Basically I was reading a piece of literature that was essentially saying that people are worst off this generation when it comes to finances due to the bad habits of the current generation of people. One of the points brought up was personal debt and how people don’t say no to themselves enough when it comes to spending money.
There was then a survey done asking why these people continue to spend so much when they know it will simply place them into more debt. The answers were kind of surprising as they were giving answers such as the government and large companies still run with massive amount of debt. And so if they can sustain a lifestyle like that then they can as well as the tools are there for them to do so.
I’m still trying to wrap my head around that one. I guess it comes down to not wanting to take accountability for one’s personal financial situations. I was then trying to think of how I would attempt to get a person like that to change their way of thinking so that they wouldn’t say continue to rack up a credit card bill.
The only thing I could think of is to show an extreme case of what could happen to the people that they would be passing their debt to. Therefore, as opposed to it always being about themselves hopefully through that they would realize that what you do now will also affect others like say if they have children. I would think generally that is what people are lacking too if they constantly compare themselves to others that have a completely different situation than theirs. Basically, they need to start developing a vision on how their current financial actions affect everyone and not just themselves.