My parents taught me to be thrifty.....!
I don't think young people are being taught this by their parents, especially if the parents aren't thrifty themselves. This includes budgeting and living within your means. I was listening to Dave Ramsey yesterday, and a mother called in upset with her son for borrowing a good amount of money for his New Years Eve. date!! Dave couldn't believe it, and laughed for a considerable amount of time. I am retired, but I know a good amount of people that are living paycheck to paycheck, both parents working. In most cases, it is by choice, just because of all the toy payments they must make. I was really surprised last summer when my local boat dealer owner told me that people were taking out Home Equity Loans to buy boats!! Really, putting your home at risk for a freakin boat. We are dealing with a culture of people today that are off the charts. Most probably voted for Obama.