It saddens me greatly to look back to the life of our childhood and to the future and the great disparity that exists between the 2 generations. In spite of how life can be tough, our parent’s generation could confidently give us sound education without putting themselves in massive debt, have a good work and family life, build a home and not just a house. For some people, they could afford to build more than one and still make provisions for their future.
The internet generation (The millennial), with the vast availability of technology and information at their finger tips are obviously more aware but less informed on the real issues of life. Education taught in school has not prepared them for the real world outside, coupled with the forever swinging recession in and out economy. They are having to start life with weights of debt from credit cards, student loans and zilch savings.
Now the sandwich generation are saddled with the responsibility of looking after their aged parents, trying hard to juggle life and struggling to stay out of debt and desperate to get their “adult” children to understand the reality of life. Planning for their future is dependent on an elusive government pension that will probably buy milk and bread for a day in their retirement.
What is common to all of them is the struggle and lack of financial education. If only savings and investment tools and strategies, making money and money management were integrated in our school curriculum. Maybe, just maybe we may still have what is called the middle class in society.
Just a mini rant! That’s it folks!!