Deferred Gratification High School

As stated, “ Third, it appears that the excitement of earning large amounts of spending money may itself make school seem less rewarding and interesting”(473) I wanted to start earning more money in order to buy myself things that I did not need, but I just wanted. I also did not want to rely on an allowance every two to three weeks of a minimum of a hundred dollars from my parents from doing chores around the house. Teens, such as myself, spend money on food, clothes, or shoes that are not needed but just bought too show off or to have something new. Most of the time the purchases that we make are out of impulse or a simple “I have money I am going to buy it.” I know for a fact that I do that a

In this society, some of the most important things in your life have to deal with money. In Chad Foster’s book, Financial Literacy for Teens, he taught his readers how to save, spend, invest and give away your money. Reading this book has taught me to start saving when I’m young, know the differences of what I need to buy rather than what I want, to make money while I sleep and giving away some of your money will not only help yourself, but help many others as well.

Growing up, money was never a huge issue to my family, not to say I was spoiled, but I was definitely privileged. I grew up in Fairfield County, Connecticut, went to private schools my entire life, had a stay at home Mom and a hard working Dad. I believed this was how it was always going to be, until my freshman year of high school. My parents started to fight a lot, especially late at night as I would lie in my bed feeling my families happiness slip away. My parents decided it would be best for the family to get a divorce. I believe this was the beginning of my passion for finance, not because of the constant yelling and screaming that led to the divorce, but the result of the separation. My Mom met my Dad in college and thought she would spend the rest of her life with him and foolishly dropped out of college to follow

Most of us don’t appreciate what we have and despise those who have what we can’t afford. Growing up, my parents rarely denied me new toys, but subconsciously, I knew I should not ask for unnecessary items. Up to this day, I don’t remember a time when I bought something without asking myself multiple times, “How much do I really need this?” This is because my family has never been in a financial position in which we could afford anything and everything we wanted. Just like Mark Twain said, “I am opposed to millionaires, but it would be dangerous to offer me that position,” I personally would not be able to handle the responsibility which comes with having money at easy disposal because of how I was raised.

Looking back on my childhood, I realized a myriad of moments I wouldn't have given a second glance at that age. My thoughts usually tend to gravitate towards my grandparents, both of which were extremely smart, and whether it came to money, clothes, toys, or any other household object, they always put it to multiple uses. On one hand, I believed they were hoarders, but now that I'm able to look back on it, I realize that they caught the very end of the Great Depression, and that they were doing everything in their power to not relive those times. On the other hand, not everyone in my family has made smart decisions with money, so that large amount of advice accumulated over time..

Growing up, it was instilled in me that if I wanted something, I have to work hard for it. This taught me the importance of money from a very young age as I did not grow up in luxury but, my parents and grandparents are providing me with all the necessities and opportunities (education) to put myself in a better financial standing than we are currently in. Though I did not get some things that other children my age may have gotten when I was younger, I would not be the same person that I am today without these morals and that I am thankful

Their reliance on their parents to budget their fun constantly leaves them out of luck and begging friends for loans. From my experience, racking up debt with friends can undesirably strain relationships. The inconvenience of scrounging off their parents fosters uncertainty and slowly degrades their pride. Lacking funds to afford an event institutes awkward situations and takes away the freedom to obtain wants and needs. Furthermore, being a parasite to my parent’s finances caused me grief, as I felt like I was being needy and did not earn what I had received. Every person has current expenses that will come up unplanned. Having money saved yields people to be prepared for emergency situations. For example, if I break the screen on my phone, I am going to be the one to have to pay for it. Saving money provides for these times of distress, all while providing convenience and more free will to spend.

My whole life has consisted of insufficient finances, whether it be my mother struggling to pay the bills to keep the heat and electric on or her trying to find something for us to eat for the night with only $10. Even though there were hard time's she has always managed to take care of all seven of us. Due to these hardships, it has made me the person who I am today; hardworking and dedicated. For example, at the age of 16, I started my first job at Taco Bell, where I worked for 2 years and now work at Ruby Memorial Hospital being a Nutrition Care Assistant. Working at such a young age has shown me the value of a dollar and due to this, I have a great work ethic. However, financial difficulties have still held me back with schooling such

In the book “Just the Basics Please,” I have learned how important it is to save money. It never occurred to me the amount of money someone can make just by saving at a young age. After learning about financing, I too would like to have millions. At a young age, the only things going through my mind is food and hanging out with friends. I can easily spend over one hundred dollars in a week and not think twice about it. Also, it’s amazing how many ways a person can save and make money by simply just being informed.

Allowance is a controversy that been around awhile. One side states that it helps teach their kids how manage their money and help prepare them for the future. The other side however states that it just gives your child a feeling of being entitled. It can also make those whose parents aren’t as rich feel poorly about themselves. Your kids will not learn things like how to work hard for your money or learn what you need to do to earn that money.

Growing up in a single parent home I learned that you must manage your money if you ever want anything

“My parents introduced me to financial stewardship at a very early age. At the age of 12, I was working in youth programs, changing lives in Philadelphia’s inner city.”

We don’t know how much work they put into trying to earn their money. Some kids work to help their parents put food on the table every night. A few even have two jobs, or work from the time school gets out, until 11:00 at night. This may even be with both parents working at least one job. There are plenty of families that work incredibly hard to earn money, but can’t bring in enough of an income to live off of. A kid who comes from a poor family wants a new pair of shoes just as much as the next kid. But when they have a hard time getting food on the table, they know it is more important so they work for

I personally think my allowance is fine for me. I am unable to have a job because school takes too much time also including after school with all the homework. My parents give me $20 a week and tell me to either save it or use it on things I need. I don't really do chores often except sweep the house and do the dishes every now and then when I can so I think I actually get more than I deserve but they also say its for putting in hard work for doing all my homework. My parents raised me telling me they did not “owe” me a anything for doing something I should be doing anyway without expecting money back, but if I did do a lot of chores all the time and didn't get anything I wouldn't want

How to properly manage money is something that should be taught to young people because it is a very important asset in everyday life. “Total consumer debt in the United States stands at nearly $2.6 trillion dollars. That works out to be nearly $8,500 in debt for every man” (Anderson). Many times teenagers are known for “throwing away” their money by spending it on unnecessary things. This is something that could easily be avoided if students were taught the proper techniques on saving and spending money. There are many different skills that students could learn if personal finance was taught in the school system. Managing money is one of those very important skills and would help to lessen the number of young people spending irresponsibly instead of