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1/23/2007
According to a January 22, 2007 article from The Associated Press, recent surveys show that the majority of college freshmen consider being wealthy as a top priority in life. One such survey has been conducted annually by UCLA since 1966. In the mid-1960s, 42 percent of college freshmen indicated it was essential to be "very well-off financially" - in the most recent survey, that number has jumped to almost 75 percent. Experts fear that well-meaning parents, who spend large amounts of money on their children to keep them happy, may be inadvertently setting them up for disappointment in later years. Many young adults, away from home and having to manage their own finances, have a difficult time changing their lifestyle in their mid-twenties to match their available income.
The article is available at the CNN.com Web site.
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