There are many who unfortunately are. I have seen bits of a few documentaries, reports and stories about them. People buy a Ferrari and don't factor in insurance, 10,000 for a set of rubber, service, etc. Same for homes and the like. Many forget that there are service costs involved but don't take the care to make sure the money is working well for them. Financial literacy is not of primary concern unfortunately, instagram and facebook literacy is vital however.
Heh. But seriously, is the average person really that stupid with money?
In any case, money and stupidity are like oil and water.
There are many who unfortunately are. I have seen bits of a few documentaries, reports and stories about them. People buy a Ferrari and don't factor in insurance, 10,000 for a set of rubber, service, etc. Same for homes and the like. Many forget that there are service costs involved but don't take the care to make sure the money is working well for them. Financial literacy is not of primary concern unfortunately, instagram and facebook literacy is vital however.
Financial literacy should be a subject in school or at least a recurring theme in many subjects such as maths and civics.