As a soon-to-be tax-paying adult, you should know how your tax dollars are being spent by your government (Hint: A lot of them are going to bail out deadbeats who couldn’t pay their mortgages at the behest of unscrupulous lenders who never should have loaned them the money in the first place).

The world of borrowing money is different than it was 10 years ago. It is simply harder. Even people with good credit have a hard time getting banks to part with cash they are now desperately afraid of losing. What does that mean to you? Your first house purchase will be tougher. Welcome to the new world – it’s a slog.

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