At the end of the day, it's the same reason most people go broke: they know nothing about money. Unfortunately, Money is the most important thing in the world because you can't get anything without it. And yet, it's not even a primary subject taught in k-12. Where are people supposed to go for a decent financial education? Instead k-12 teaches kids about useless butterflies and countless other things that are of lesser importance. You would think, they'd at least teach it in college. But, I know MBA graduates with 3.8 GPA who don't even know what a tax deduction is!
I recommend basic financial classes for everyone k-12, everyone should have the right to basic understanding of personal finances and basic economics.
I recommend basic financial classes for everyone k-12, everyone should have the right to basic understanding of personal finances and basic economics.