It's not a financial literacy problem. It's a quality of life thing. People want or have convinced themselves they need to live a certain way. Sometimes it's "

It's not a financial literacy problem. It's a quality of life thing. People want or have convinced themselves they need to live a certain way. Sometimes it's "keeping up with the johns'", but I think it's more that what people see as the base level of living at their level is too expensive, and people don't want to give anything up. A huge number of people operate at the verge of insolvency, because they refuse to compromise quality of living. It's not just about knowing, you have to be willing to give something up.