One of the major reasons why humans are so bad at managing their money is that they never learned to BUDGET their money or can’t stand budgeting because it requires spending discipline. Budgeting should be taught in every elementary school to students so that they don’t grow up to be as profligate as their parents and government who are constantly struggling with unreasonable debt which is destroying families and a healthy economy.
Not only have we become a nation of impulsive spenders living from paycheck to paycheck but the government is handicapped with the same problem of irresponsible financial management of the economy and is burdening future generations with debt which they will never be able to repay.
Thriftiness is no longer a promoted virtue and the government also is no longer as virtuous as it once was. Be stupid with money and soon you will soon have a culture which stupidly self-destructs.
It doesn’t pay to save any money for retirement because of inflation, banks paying no interest on saving accounts, and risky volatile investments which can go belly up at the next financial crisis. The live for today and spend for today makes long duration planning almost impossible and not only are families in crisis mode but government is in crisis mode with no emergency reserves except the printing of more counterfeit money and greater debt.
Animals have an emergency fat reserve for food emergencies and humans and government should have an emergency money reserve for crises and emergencies in their lives. If humans have financial emergencies in their lives then they can depend on government to bail them out. Who will bail out the government in an emergency financial crisis?
To cure impulsive spending you frequently need a financial crisis. It is much smarter to teach young impressionable minds the virtue of spending discipline or budgeting so that there are no great financial crises in their adult lives.
Individual responsibility about money creates a responsible government and an army of irresponsible citizens is ungovernable and creates a dysfunctional government unable to justly govern.
Much more important than money is the moral decay of cultures but I have written about this other major problem and solutions in other blogs.
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