I find it interesting how the top 3 for both the best and worst financial decisions contained a decision regarding how much they spent in their 20's. I believe it is in their 20's where they learn more about their finances. Knowledge about their finances or a lack thereof about finances early on in their independent lives could attribute to how much they spent in their 20's.
I find it interesting that even though the student loan debt levels are so high, getting a college education is still the number 1 best financial decision. I would have to imagine that for some, the decision to attend college, and accumulate debt, was not worthwhile.
Firstly, I agree with Daichi. It goes to show that financial literacy is lacking in the age group associated with the 20's. Secondly, like Zoe said, I am surprised that a college education is #1. This may be because the traditional view is that the American Dream involves getting a college education and so this idea is passed on to generations and generations. I am also surprised that buying home is #2. After living below your means in your 20s and then graduating with student debt, I would think people find renting a home more favorable. But again, I think many of the statistics we are seeing are related to the traditional view of the "American Dream."
I think this graphic is kind of pointless and is not representative of the US population. The survey was based off of 2000 people in the country. The population of Kalamazoo itself is 75548. When it comes to make good financial decisions, I think to a great extent, the criteria is subjective. Going to college might be a good decision for people who can afford it, but for some people it isn't really an option at all.
I find it interesting how the top 3 for both the best and worst financial decisions contained a decision regarding how much they spent in their 20's. I believe it is in their 20's where they learn more about their finances. Knowledge about their finances or a lack thereof about finances early on in their independent lives could attribute to how much they spent in their 20's.
ReplyDeleteI find it interesting that even though the student loan debt levels are so high, getting a college education is still the number 1 best financial decision. I would have to imagine that for some, the decision to attend college, and accumulate debt, was not worthwhile.
ReplyDeleteAgreed!!!!
DeleteFirstly, I agree with Daichi. It goes to show that financial literacy is lacking in the age group associated with the 20's. Secondly, like Zoe said, I am surprised that a college education is #1. This may be because the traditional view is that the American Dream involves getting a college education and so this idea is passed on to generations and generations. I am also surprised that buying home is #2. After living below your means in your 20s and then graduating with student debt, I would think people find renting a home more favorable. But again, I think many of the statistics we are seeing are related to the traditional view of the "American Dream."
ReplyDeleteI think this graphic is kind of pointless and is not representative of the US population. The survey was based off of 2000 people in the country. The population of Kalamazoo itself is 75548. When it comes to make good financial decisions, I think to a great extent, the criteria is subjective. Going to college might be a good decision for people who can afford it, but for some people it isn't really an option at all.
ReplyDelete