New York Times has an article on people writing blogs on their debts. This seems to help them to get out of debts. It is easier to hold no bar in cyberspace than to tell your Mum or Dad. Most are in debt spending more than they earn. Many have student loans and started working with debts.
Asians do not get into debts usually as we live with parents and will work to pay off loans asap. In US/Canada, parents can expect their kids to pay rent once they reach sixteen. Still in school? Well, they have to take part time jobs. Usually, kids leave home for University with some parental support. They have to figure way to pay for their tuition, board and food. There are part time jobs, scholarships, student aids and student loans. The good thing about student loan is the interest does not kick in until you graduate.
We are luckier in this respect compared to Westerners. Our family values are slightly different and usually kids leave home when they get married unless they go oversea for study.
To read the article on debt blogging, go to http://www.nytimes.com/2007/02/18/us/18debt.html?em&ex=1172034000&en=7e163815dffef62f&ei=5087%0A
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