College Kids: Clueless About Cash & Deeper in Debt?

Posted on: Thursday, October 16th, 2008
Posted in: Spendology, Blog | Leave a comment

Survey sez:  
  • 84 Percent of college students who say they are educated about money management and understand the consequences of debt.
  • 50 Percentage who say they wish they had a plan to help decrease their debt.
  • Source: Western Union Payment Services

If you read the previous entry about money disorders, here is some proof that such ailments run wide, deep, early and often in the U.S.A.

Analyzing these two little stats brings many theses (rhymes with feces) including…

Isn’t it amazing the confidence that youth (or is it all Americans?) have? 84% say they are educated about money, yippee, but 50% say they need help? Sorry, that’s a blithely ignorant nonstarter.

The 50% suggests that, obviously, half of them already have debt problems. Sure, college is a spendy time. But if you’re already worrisomely in debt and don’t have a plan, my bet is that you will suffer from that illness much or most of your life.

Shall we hazard a guess at their lifestyle? No judgment here, I hope they’re happy. But my gut says the majority have cell phones. Go out several nights a week. Drink better inebriants than we did in college. And wear cool, branded clothes. But hey, have fun!

False confidence. Deep debt. No plan. Ain’t that America? Yeesh.

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