At the end of the week, the Bureau of Investigation allowed me to put into words a feeling I’ve had for a long time: many young Quebecers haven’t learned how to manage their money.
• Also read: She was cheated by a family member and had to file for bankruptcy at the age of 21
• Also read: “I gave away a lot of personal information too quickly”: He filed for bankruptcy at the age of 20 due to fraud
Several Bureau of Investigation articles published in recent days address the fact that more and more young Quebecers are facing bankruptcy proceedings.
Difficult romantic relationships, fraud, piling up bills: more young people than expected are facing personal bankruptcy.
I understand that life is full of setbacks and that no one is safe, but when I look at the people of my generation, Generation Z, I am not surprised by the Bureau of Investigation’s findings.
I want everything, now!
I’ve noticed that for many people my age in their 20s, having a budget isn’t important. Many live beyond their means and are always willing to spend money to follow new trends pushed by influencers.
I think that the fact that my generation has difficulty looking into the future because of climate change and everything else has a big impact on our relationship with money.
I understand that when we are pessimistic about the future, we can think: What’s the point of budgeting, accumulating or investing?
Whose fault is it?
I know that young people of my generation have a lot to do when it comes to money management, but I believe that there should be a lot more education at this level.
Is it normal that many young people learn how credit cards work the hard way and end up thousands of dollars in debt because no one takes the time to properly explain it to them?
It is important to better equip young people so that they have every chance of achieving good financial health.
