I personally believe we are not educated enough in regards to personal finance and when you turn 18 your suddenly expected to be able to understand APR and debt. I think the real issue is the fact that you are bombarded with insentive's to open storecards when your trying to shop and at the time the discount seems good. But when you hand over your details you don't really think about the consequences. Your only told the positives that your saving money and that it's interest free credit and that you can just simple pay it straight off at the end of the month, but sometimes that's not so easy and it can spiral out of control.
We are also not really educated about what it actually means to have a good credit rating and what the actual consequences are in later life if you get black listed for having a poor credit rating.
What I find most bafferling is we are taught the in's and out's of algebra in school but we're not taught such a fundermental life skill as personal finance, and if we're being honest who can really say they use algebra on a day to day basic !?!
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