Why do I keep reading, especially during financial literacy month, statements like this from respected journalist and personal finance experts all across the blogosphere; the next generation is growing up as financially inept as the last.
Does anyone really believe that every person over the last 2 decades of this “so called” financial literacy movement that have “crashed and burned” like I did were financially inept? Do you really think no Doctors or Lawyers, or Educators or PhD’s have filed for bankruptcy or had their homes foreclosed on over the last 2 decades? Of course they have! And many were financially literate by any benchmark set by the financial literacy movement – and I know this first-hand! Yet it still didn’t prevent them from going broke!