Why are young people so bad with managing their finances nowadays?

>>2645329

Most people are shit with money. Most schools barely offer any classes on finance or investing. Most don't know anything about the stock market or investments. A lot don't even put anything into a 401k because they want "extra money from their paycheck". I have a friend who was evicted from her apartment because she couldn't pay $700 for her rent. For me, that's 2 days at work. Even worse, she has 3 kids and her husband is in jail for selling drugs. She has constantly begged people for rides to work at a fast food place as well as money for her kids. A lot of people are just like her (if not worse) where I'm from.(middle of nowhere midwest USA)

They are purposefully misinformed by mass media to spend their money in an endless pursuit of false social status.

>>2645377
To be fair, I could invest my 401k money far better than my 401k would, even with the tax advantage.

I put it up to full matching from my company (because a "risk-free" return that big is better to me than a potentially higher return with risk) but other than that I can understand why someone savvy with their investments might not touch it.

>>2645405
>>2645377
>personal finance course
Not a bad idea but I think basic instincts can tell you, that spending all your cash right now could be problematic some day in the future

>>2645329
Definitely a problem. Have friends who will spend the last penny in his bank account with no issue.
One kid spent $1000 on a quadcopter as an impulse purchase.
Not really my problem though, they'll either learn a hard lesson or fuck themselves.

>>2645478

>basic instincts

Have you ever been around people who are shit with money? Basically go to any ghetto or white trash town and you will see how bad people can actually be with money. Most will never see more than a couple hundred in their bank account, if they even have one (many only use cash). This is for the really poor folks. The middle class ones are even worse in some ways by putting everything on credit cards and becoming debt slaves for the rest of their lives.