Reply to Wow the lack of financial education in this country is staggering

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, this board is full of people born on third base who thought they hit a triple. I’m from a normal middle class background. Single mom, first in my family to graduate from college, took out student loans, paid them back. My kid also has student loans and will pay his back. Even if we cut every corner, I still don’t have enough to pay for everything. I always pay off my credit card debt but until I stop paying for college, it is super tight every month. [/quote]

This. Most people I know with absolutely zero debt come from privilege that benefits them well into adulthood. Even if their parents aren't explicitly cutting them checks (and many of them are!), they paid for college, wedding, downpayment on the house, family vacations, gifted older cars, etc. One friend talks about how she stands to inherit $4 million dollars. Crazy stuff.[/quote]

very true. Though I was raised by mentally ill parents and suffered housing insecurity. I still support one of my siblings who inherited the mental illness. My DH parents were true blue collar. I went to CC, Stopped there and DH to a state school with loans. We got  VERY VERY lucky and hit the tech boom and companies at the sweet spot all through the late 90s -2000s. We both worked places with IPO and RSUs and can’t believe our luck. However i see how damn lucky our kids are.No school debt, my oldest is in college an we’ve basically found him incredible internships, they will both start adulthood with paid off reliable safe cars, and will always have it in the back of their mind that their parents will never let them be without the essentials in life no matter what happens. but no we will not cut gigantic checks for homes that’s for sure!

I actually think n  way my kids are at a disadvantage as compared to my very rough childhood, which was a blessing in disguise. they will never know what it feels like to be hungry for something. This has been a big driver in my and my DHs lives. We have always wanted more than what we came from. we have always know we had to make our own way and we knew what we wanted. I’m so grateful for my early life even though it did give me some personal issues i struggle with: I would not trade it for anything. [/quote]

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