Young people are no exception when it comes to accumulating debt.
He wasn't in debt because of college - rather, he was paying for his truck, stereo, and other purchases. By 22, he had hocked his future. By Jim Charkins. During an economics lesson on budgeting, opportunity cost, and decisionmaking, the high-school seniors in my class were tallying the cost of next month's Winter Fantasy Dance. The exercise said a lot about the pressure on kids to spend.