Sounds like a lot of people were convinced to borrow way more than they could afford for a status symbol no one should care about. Financial literacy should be taught in middle school.
I have 20k in debt just buying a Toyota corolla. I think there is a lot of people who bought status symbols, but there are a lot of people who just need a car that isn’t going to break. If I bought used and something happens that would cost me 5k, which can easily happen, Im screwed. I dont know what the answer is. A few years ago, I had a job two blocks away, now I have a job 50 min away. I have to get there somehow and its not like my job is going to be ok with me saying “I need a week off because my car broke”
Yes, there should be accounting and financial classes in middle/high school. However, then the (predatory) loan industry would have less prey. They “love the poorly educated.”
Sounds like a lot of people were convinced to borrow way more than they could afford for a status symbol no one should care about. Financial literacy should be taught in middle school.
I have 20k in debt just buying a Toyota corolla. I think there is a lot of people who bought status symbols, but there are a lot of people who just need a car that isn’t going to break. If I bought used and something happens that would cost me 5k, which can easily happen, Im screwed. I dont know what the answer is. A few years ago, I had a job two blocks away, now I have a job 50 min away. I have to get there somehow and its not like my job is going to be ok with me saying “I need a week off because my car broke”
Yes, there should be accounting and financial classes in middle/high school. However, then the (predatory) loan industry would have less prey. They “love the poorly educated.”
Never in my live did I expect to live through an Economic Crash related to Penis Compensation Devices …