Most people understand the basics of personal finance, but not everyone is financially disciplined. It’s one thing to know that you should avoid credit card debt, but it’s something different to actually stay out of debt.<\/p>\n
One person has been browsing Reddit for a while and noticed a common theme: people are bad with their money<\/a>.\u00a0<\/p>\n “After looking at other groups on Reddit, it is amazing how bad people still are with money, and how nothing will ever change,” the original poster said.<\/p>\n Gen Z was mentioned in this post as being bad with money, and that drew plenty of controversy in the comments.<\/p>\n Don’t Miss:<\/strong><\/p>\n People Are Bad With Money In General<\/p>\n Many commenters took offense to the mention of Gen Z specifically being bad with money, saying that previous generations were also bad with money.<\/p>\n “Just the same [nonsense] take on the next gen,” one commenter said.\u00a0<\/p>\n Multiple commenters also said that it was common for every generation to talk badly about the generation that comes after them. Millennials previously faced plenty of criticism, and as that criticism wanes, Gen Z appears to be the new target. Soon, it will be Gen Alpha, who are already being referred to as “iPad Kids<\/a>.”<\/p>\n Some people in Gen Z are excellent with money management, while others aren’t. This is a blanket statement that you can apply to any generation, but housing is less attainable for the current generation.<\/p>\n “Housing affordability is objectively lower than most points in recent history,” one commenter said. “That doesn\u2019t mean that those people cannot find a home, but it means they would likely need to sacrifice more (a lot more) than most other generations would to get into a home.”<\/p>\n Trending: Kevin O’Leary Loves \u2018Wonderful Recurring Cash Flows’ \u2014 These Small Industrial Assets Deliver Just That<\/strong><\/a><\/strong><\/p>\n Why Are People Bad With Money?<\/p>\n One Redditor decided to list some of the reasons why they think people are bad with money<\/a>. Most of it comes down to a lack of education, but there are regular reminders in our day-to-day lives to spend more money and consume more things.<\/p>\n “Kids today are cuddled, and the overconsumption and constant ads they see online do not help,” the commenter said. “Basic personal finance should be taught in schools. I remember taking a personal finance class in high school, and they focused on how to balance your checkbook. It was completely useless.”<\/p>\n The commenter went on to say that investing, compound interest, Roth IRAs, and managing a basic brokerage account should have been taught in high school. Not teaching children about personal finance and stimulating them with a barrage of ads that encourage excessive consumption isn’t a good formula for financial stability.<\/p>\n