The core of personal finance is personal responsibility. Or, at least, it has been traditionally. Most personal finance experts will talk about so many important money-related topics — how to get yourself out of debt, when to start saving for retirement, how to build healthy financial habits that you can continue for the rest of your life. But what we don’t talk about enough are the systems in place that put us in bad spots with money in the first place.
For example: college. There is no reason that the American university system should have as high tuition rates as it does, especially when you look at the cost of higher education in other developed countries. Tons of Americans have tens of thousands of dollars, if not more, in student loan debt — and when we talk about debt, we usually only talk about how to get out of it. But we should be talking about why we’re in so much debt in the first place, and how we could be changing our systems for the better. Of course, you should be working to pay off debt — but that doesn’t mean we can’t spend time trying to fix a broken system. In this week’s video, Chelsea speaks to student loan debt as well as several other major financial realities that are making Americans’ lives worse.
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