In a paradoxical twist, today’s teens find themselves entrusted with borrowing substantial amounts, often upwards of $100,000, to pursue an education in business from professors who may have never ventured into the entrepreneurial arena themselves. Yet, the same trust isn’t extended when it comes to borrowing a mere $10,000 to kickstart their own business endeavors.
Amidst this conundrum, a notable shift seems to be underway. Observers sense an awakening, particularly within communities that emphasize entrepreneurship. Many individuals, especially among Gen Z and millennials, are forging their own paths, embracing a spirit of entrepreneurship that challenges the conventional norms.
However, a concerning trend persists. A substantial percentage, with 43% of Gen Z and 41% of millennials, admit to grappling with what is termed “money dysmorphia.” This suggests a flawed perception of finances, and it is attributed, in part, to the lack of economic education in traditional college curriculums. For the considerable investment of $20,000 to $100,000 annually, the expectation of a more comprehensive understanding of crucial financial concepts, including inflation, money printing, and budgeting, seems justified.
Sources:
Teens are trusted to borrow $100,000 of debt to learn business from professors who’ve never started businesses.
But aren’t trusted to borrow $10,000 to start a business themselves.
Backwards isn’t it?
— WOLF (@WOLF_Financial) February 12, 2024
Some 43% of Gen Z and 41% of millennials say they suffer from a flawed perception of their finances, dubbed money dysmorphia, per Credit Karma.
— unusual_whales (@unusual_whales) February 12, 2024