TL:DR Studies on financial education show it helps increase savings rates, but has virtually zero impact on whether someone will default on loans. The article suggests that financial discussions at home are important.
Really though, the article is raising discussion points and doesn’t really suggest what actions we should take (that I noticed, anyway).
Don’t put the blame on people. Plenty the govt can do. Yes better finance education is useful but we also need to hold private forms accountable.
Predatory companies need to be sanctioned and that will likely be more helpful that teaching better money management