I will blame someone for our collective financial stupidity: The education system.
While we were busy learning about chemistry, physics and history we seemed to have missed out on important lifeskills; fundamental things from how to fill out a tax return to how to iron our shirts. We are missing some real fundamental lifeskills from our curriculum.
These were the skills that our parents were expected to teach us, but chances are both parents were working all through our childhood an adolescence. This means we were simply left to fend for ourselves an learn from our own mistakes. That means that a few shirts will get burnt, and a few credit cards will get maxed in the process.
Now there's nothing wrong with this learning this way, it's character building and great for building independence. But wouldn't it be nice if we walked out of high school fully equipped to with everyday lifestyle skills.
What concerns me is that the big four banks are running their financial literacy workshops. Clearly they are pushing an agenda and raising the next generation of credit card junkies.
Have a good weekend.
Chris Hooper
(Shut Up and Save)