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sal2015 - 09/08/2018 - 17:53:05

So is this why most Britons are poor? It's not that they don't earn enough money, it's that they do not know what to do, efficiently, with the money they do receive. Discuss.

http://www.dailymail.co.uk/news/article-6043241/Family-demand-council-house-spending-250-000-inheritance-year.html

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coretosky - 10/08/2018 - 14:43:13

Financial literacy is not just an issue amongst people in lower income level or under-developed countries... and clearly is a pressing topic in the England: http://www.ucl.ac.uk/ioe/news-events/news-pub/mar-2018/england-low-levels-financial-literacy

The inability to formulate appropriate amount of savings and spending in relations to one's existing asset and continuous income (or the lack of it), could lead to the situation @sal2015 posted and more.

I've heard from a recent market research claiming that even high income earners in the UK claim not having enough saving and not knowing how to save properly. Not to mention the amount of people living on credit and paying bills shows the lack of planning and sustainability into individual finances.



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