Quote:
Originally Posted by I_H8_Crawford
want to start fixing wealth inequality? Start with Education.
You can tax the rich more, give it to the needier of our society, and they will likely throw it away on the newest gadget or car that they like. Hell, look at CERB - how many of the people who needed it budgeted, and then threw some of that money into investments? Or how many used it to buy PS5s, iPhones, etc. Would be an interesting study....
How many people received an actual education in budgeting and finance in grade school? I mean CALM had like a 1 week lesson on it, but other than that??? People have no clue how to manage money, and they learn that from their parents.
Rich parents teach their kids how to manage money. Poor parents likely don't focus on that as much. Get the education down first then look at solutions for actual $$$.
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Most people know that saving and investing are for their financial well being. That isn't going to stop people from lining up to buy expensive trucks the next time there's an oil boom.
People overextend themselves financially because they are tempted by material things and experiences, not because they've never heard of savings and budgets. A couple weeks of highschool education in the subject isn't going to make the difference.