At the end of the week, the Bureau of Investigation allowed me to put into words a feeling I’ve had for some time: many young Quebecers have not learned how to manage their money.
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Several articles by the Bureau of Investigation published in recent days deal with the fact that more and more young Quebecers are facing insolvency proceedings.
Troubled romantic relationships, fraud, piling up bills: Younger people are facing personal bankruptcy than they thought.
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 findings of the Bureau of Investigation.
I want it all, right now!
I realized that for many people my age, who are in their twenties, having a budget is not important. Many live beyond their means, always ready to spend to follow new trends driven by influencers.
I think the fact that my generation has a hard time projecting into the future, with climate change and all, has a lot to do with our relationship with money.
I understand that when we are pessimistic about the future, we can find ourselves saying: what is the point of budgeting, saving or investing?
Whose fault is it?
I know that young people of my generation have a lot to eat when it comes to managing their money, but I think there should be a lot more education on this level.
Is it normal for many young people to learn the hard way how credit cards work by ending up with thousands of dollars in debt because no one bothered to explain it to them properly?
It is essential to better equip young people so that they have every chance of being in good economic health.