Why Are Americans Broke?

Why are so many Americans dead broke in one of the richest nations in the world? This is a great question. Think about it America is one of the richest nations in the world and we have a ton of people barely making it and living in tons of debt. What is the cause of this? One would reason that this does not make any sense but if you actually take a deeper look into it, it actually does make lots of sense.

First here is the major problem no one teaches anything about financial education. Most people have no clue how to budget their checkbook, have no clue about the difference between a real asset and a liability. Next people have no clue about the difference between good debt and bad debt. This is why so Americans are broke overall as a nation we have no clue on how to spend our money. Then tie in what society tells us what is acceptable and boom disaster.

So here is the problem as a whole many people in this country have become lazy and want quick fixes. Everyone wants to strike it rich overnight with no work involved. As a nation we have stopped learning instead a majority of Americans spend their nights watching The Real World and have no clue what is going on in "The Real World". Most people would rather buy a pair of rims or some "bling-bling" instead of using the money to make a sound financial investment. And what happens when that person gets laid off they are screwed and then they realize how quickly the things they thought were vaulable are not really vaulable at all.

Money Talks has more articles on making rich.

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