Plus, for parents in the sandwich generation who have both kids and parents to care for, it can be tough to set a good example. You find parents who can talk to their kids easier about drugs and sex than about money. After all, they never took a course on personal finance and they're getting by just fine. In a word, change. This is not the world you grew up in.
Spending is portrayed as an entitlement of young people.
Immediate gratification is the rule, not the exception. To make that easier, credit card companies target them with post-graduation plastic bearing their college colors or favorite hobby. We have yet to see a credit card commercial where the bill arrives. Early debt can get you in deep Simply put, never before has it been possible for so many to get so deeply into debt so early in life. Early debt is particularly crippling because it can seriously alter a young person's future, affecting their ability to obtain financing, find housing, save for retirement and even land a job.