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I'm so sick of reading these articles about how horrendous our financial habits are, and they end up pointing the finger at everywhere else but the individual.

I'm so sick of reading these articles about how horrendous our financial habits are, and they end up pointing the finger at everywhere else but the individual. There's so much literature out there on how to better oneself that it's near-inexcusable nowadays, especially when nearly everyone has access to the greatest library in the history of civilization (if they don't, they most likely know someone who does or can get access to it [public library and such]). 30-40 years ago I can see financial illiteracy being more forgivable. But not today. Yeah, shit fucking sucks today. Wages haven't increased, student loan debt, etc. etc, but there's a point where people have to stop whining and start protecting themselves against the reality of the times.

pascalxus 9y ago
Yup! And there's even more ways to save today than 30-40 years ago. You have pay per mile insurance (metromile) that costs less than half of traditional drivers insurance. Phone plans that cost 10$ per month or less (www.usmobile.com), 2nd hand places to buy (craigslist, close5, letgo, etc) and countless other ways to save. And yet, people choose not to.
pfranz 9y ago
If enough people are having problems that it becomes a systemic issue (student loans might be in this category), then personal responsibility isn't cutting it. The big flaw of a true free market is information imbalance and externalities. I only have one chance to save for retirement while a financial company may deal with 100s of thousands so it's harder for one side to learn from mistakes than the other. Like regulations around children's toys I think both sides have fair arguments--neither is 100% correct. I just don't think it's 100% personal responsibility in a modern society.