Social and Economic Factors

• 👪 The biggest predictor of financial stability is not academic ability, but the wealth of one's parents, with wealthier parents providing better opportunities and removing financial burdens.
• 📚 Children from poorer households may need to catch up financially, taking on student loans and building their own credit, and may be over-represented in groups with high incomes but low financial security.
• 📺 The media often portrays the middle and upper classes, creating unrealistic expectations and a sense of FOMO (fear of missing out) among those who feel they should be further ahead in life.