Let me give you my perspective from renting to college kids for over two decades.The ones who have some skin in the game, as in _having_ to work to pay for some or all of their education get 'centered' real quick -- either realizing that college is not for them or buckling down and working their asses off to reach their goals.Unfortunately, the majority of students I've come into contact with are getting a degree in 'party' and are simply squandering their time and their parents' money.

The folks who have money end up squandering it away and not lasting very long.

I feel bad that I have a lot of employees squandering the opportunity I feel I've given them.

Your reputation is everything so if someone want's to squander their reputation over a $5 - $10K assignment so be it.  

If you haven't successfully handled money in the past your likely to squander your inheritance .

My wife surely would prefer that I have a W2, but I've been planning for some time for this to be my business so I should not squander my opportunity.  

I do think that this problem will fix itself.How often do you see a family build up wealth over a generation or two only to have the spoiled decendents squander it all away. 

Obama is squandering his credibilityIf this plan fails — as it almost surely will — it’s unlikely that he’ll be able to persuade Congress to come up with more fundsSee the article: http://www.nytimes.com/2009/03/23/opinion/23krugman.html?

I think what would happen in reality is that people would squander the wealth on silly things and it would discourage people from working in the latter part of their life.

You will never know everything, but if you learn to avoid 1 or 2 large mistakes then that education has paid for itself.Just my 2 cents.Years ago, I had a large sum of capital come into my hands only to squander it away quickly because I didn't have the financial education on how to properly deploy that capital and let it work for me.