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I agree it should be part of the syllabus at school, but I still think it's a cop out that anyone can think they can walk into a bank and just say "give me as much as I can borrow" without giving any thought to what they can actually afford.For better or worse, a lot of people rely on the bank to have done their numbers and that the amount they're able to borrow is an amount they can reasonably repay.
The bank has done their numbers, but the amount they're offered isn't an amount they can reasonably repay if conditions change.
Yes, you can argue people should be better educated, but the reality is a lot of people aren't, our education system doesn't really spend a lot of time on it, a lot of people don't necessarily have the education, and for generations that was fine because the banks were pretty conservative in their lending choices.
Do we cut people the same slack if they can't get their household spending budget in order??