We run into so many people who struggle and live week to week in a never ending cycle of financial depression.
It is amazing how this happens but it’s very very common. The hardest part for these individuals and families is to get out of the financial habit of spending more than what they earn as soon as they receive their paychecks.
They ultimately have to rewire their brains to change or outsource the task to companies like MyBudget to ensure they stay on track ($2,000 per year or so of fees that they don’t necessarily have). The poverty cycle is real and is here. If no one decides to educate every single citizen of this country, we are destined to create a massive gap between the haves and have-nots!
Our view is personal finance tips and tricks should be taught in schools. The key to the teachings is to make it as practical as possible not just theoretical crap which is what’s out there. The Barefoot Investor is a great book for struggling families to read and get accustomed to. It is the hardest thing to get out of old financial habits but certainly worthwhile in the long term.