My parents are the reason why the economy is failing...

The post you are about to read is build-up of my last 18 years of observation and research. It was the same years I spent with my parents. I am 18 years old for context. And this is the story of why the economy is failing, and why the next generation will be economically screwed.<br><br>-<br>My family is lower-middle class. Not poor, but far from rich. My parents are immigrants from South America, and they came with little to nothing. But they worked their hardest to provide for my brother and I, and they are incredibly generous to their parents and younger siblings back in their home country. However, they have made mistakes along the way. Mistakes that has caused them to be in debt, and I believe that the mistakes they made are the same ones that many lower-income Americans and people from low-income countries make. And these mistakes cause the economy to fail.<br><br>Growing up, I have always noticed that my dad seriously lacks financial literacy. When he got a raise, or a new job, he would buy something he has never bought before. When he got his first raise, he bought a brand new iPhone. When he got a promotion, he bought a brand new laptop. When he got a new job, he bought a brand new car. He is living comfortably. But he barely has any savings and a ton of debt. Credit card debt, a house he can't afford, and massive car loans. I leave for college this fall and he's contemplating on selling his house because he can't afford it. He's not an idiot, he's got a degree in engineering and is highly skilled at his field, but he lacks common sense. He doesn't know that he needs to save for retirement. He doesn't know where his money is going. He doesn't know that he's spending more than he earns. He doesn't know that he's living paycheck to paycheck. But the worst part is, he doesn't want to learn. The last time I tried to bring this issue up, he shut me down and said that he knows what he's doing.<br><br>And my mom is worse. She doesn't have a degree, and she barely speaks English. She has been in the same dead-end office job for nearly 20 years and she barely gets raises. She earns enough for herself, and she barely has any debt compared to my dad. But she doesn't know the value of money. She would spend hundreds and hundreds of dollars every month on Amazon. She would buy things she doesn't need, she would buy things she doesn't use, she would buy things she already has. And when that runs out, she'll ask her siblings back home for money to give to her parents, and she'll buy more unnecessary things. She's got enough savings, but she doesn't know how to budget. She doesn't know how much she's truly earning, she carries herself as if she's making the World's salary, when in reality she's barely living comfortably. She has barely any savings, and she doesn't save for retirement. And of course, she doesn't want to learn either.<br><br>And I have realized that these two are the reasons why the economy is failing. Immigrants with no financial literacy, no degrees, and barely the ability to speak the language of the Country they live in. They'll barely get raises, they'll get stuck in dead-end jobs, they'll be in low-income neighborhoods, they'll have debt, they'll have a lack of savings, they'll have barely anything to show for. And this affects the economy, a LOT. These people are seriously screwing up the economy, and it's going to effect my generation a lot. It's not their fault, it's circumstance, but it doesn't change the fact that they're screwing us over. With the massive debt and lack of savings they have, we will have to deal with it. We'll have to bail them out. We'll have to pay for their mistakes.<br><br>And of course, you can argue that they can learn. But they don't want to. They don't want to learn that they're screwing up the economy. They don't want to learn that they're seriously screwing up our next generation. They don't want to learn that it's their fault that the economy is failing. They don't want to learn that their lack of financial literacy has caused them to make massive mistakes. And the worst part is, they can't be blamed for it. They barely know anything, they have no one to teach them. They're trying their hardest, but they can't do any better. They're not idiots, but they just can't be blamed for anything. They're trying their hardest, they're providing for my brother and I, they're providing for their family back home. They're doing their best. I can't be mad at them.<br><br>But I seriously hope that for my generation, we will be taught that we can't afford to be like my parents. We need to be taught that the economy is failing, and that we need to save for it. We need to be taught that we need to be financially literate, or else we will make mistakes. We need to be taught to save for retirement, we need to be taught where our money is going. We need to be taught to not live paycheck to paycheck. And we can't make the same mistakes as my parents, or else the next generation will be screwed. seriously.<br><br>&#x200B;<br><br>&#x200B;<br><br>&#x200B;