How is the Price of Oil going to Affect you?

wheee!

The sad truth is, so many young men work in the oil patch assuming that the money will never run out. They spend everything they make plus more. Buy a $80,000 truck, $500,000 house then run up all their credit cards because, "Hey, what the heck! I make $150,000 a year! I'm rich!".

All it takes is two to four weeks of no income for them to be financially ruined. So little common sense these days. No one puts money away for the rainy days. No one wants to live within their means. They want everything now and can't wait to save up and pay cash for their toys and vacations etc. It's a cultural phenomenom that seems to have corrupted the young people of today.

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mishuko

more like consumerism which is being compounded by external factors. look at the media pushing 'house ownership'.

i agree housing is important but it's not an ends to your means. no one wants to save and i read in one of those little tid-bids in the elevator tv that canadians spend the same amount planning as they do researching vacations each week... 2 hours. which tells me that 'canadians' on average look for instant gratification...

i guess i'm skewing the lot as i spend average of no vacation planning and 4-5 hours looking at my investments or planning out my next strategy