Is Finance Management Be Within Students Reach Regardless Of Their Set Of Circumstances?

College students are at the beginning of their financial career and saving borrowing and spending money doesn 't work in the real world quite in the same way that it does with your piggy bank. Starting in college, early in one’s financial career, to make smart financial choices will set a life long precedence of wise financial management. By doing some simple things to keep ones finances organized one can improve their financial standing, and open themselves up to opportunities which would have otherwise, with poor financial management, not have been available. A college student who squanders all

Throughout the United States, many people have trouble paying bills. Many people that enter college are around 18 to 34 years old, and in order to keep a stabilized relation with their money, it is easier not to go to college. “Two-thirds say a major reason for not continuing college is because of the necessity to be able to support a family”(Pew). Another reason that affects students very critically on their finance is student loans. Students leave college with a huge debt in their hands. Because of that reason, more than half say that

Unfortunately, though a student might get its degree one time, it will be overwhelmed by student debt. The average student loan debt of 2016 graduates is $37,000. It takes twenty-one years for the average bachelor’s degree earner to pay off student loans. Even though college graduates and average of twenty thousand dollars more than high school graduates, they are faced with massive loans that graduates can have a hard time paying. Twenty-three percent of students are not able to pay their loans. Three-fourths of graduates with loans are forced to make sacrifices to keep up. Since many students are struggling to pay their student loans, they are no longer investing for the future and merely trying to survive the present circumstances. Thus, less millennials are buying houses and cars, saving for retirement, and getting married while more are forced to be economically

Taking on debt will also allow them to facilitate their lifestyle that supports their goals and identity. This ties into the idea of mastery and self-esteem; mastery coming from “the capability to control one’s future” and self-esteem coming from “positive outlook for the future that contribute to a feeling of self worth”. The positive effect of debt is postulated when the authors state their hypothesis that “College loan and credit card debt contribute to a greater sense of mastery and self-esteem for young adults because they represent a necessary and reasoned investment in status

Credit card is a major problem for college students in the US because it can easily get out of control. When a student gets himself into trouble with a credit card because of huge debts it becomes harder to pay off all the amount of money you owe to the bank. For example if someone get $5,000 of debts and the credit card carry an average rate of 18% percent and this person only makes the monthly minimum payment of $100, it would take 8 years and cost nearly $10,000 to pay the card off. Many students find the lure to buy now and pay later tempting very tempting but it’s a bad approach if you want to successfully manage your credit card. There’s a lot of dangers lurking behind that kind of mentality. College students should be careful with credit cards because it is easy to get into debts that can last a long time, furthermore college students who have been informed about credit card management should be able to handle one.

One major question that a student attending high school has to consider is whether to go to college or not. With the increasing debt that the average college-bound teenager faces if he or she chooses to go, it becomes harder to decide if college is even worth it. In fact, according to “Congratulations, Class of 2015. You’re the Most Indebted Ever (For Now)” by Jeffrey Sparshott, the average debt for a graduate of the class of 2015 is nearly $35,000 per year, more than twice the average of 2000 (Sparshott 1). This increase highlights the steady trend toward higher debt for future college attendees.

When students go to college, often times they forget about how their decisions affect their future. In “Money Mistakes College Students Make,” Tracey English explains this fact when it comes to making decisions about their money. When students first start going to college, they often wind up in debt. They spend money without really thinking about how to budget it. Often times it’s spent on things that are more of a luxury than a necessity, such as dorm decorations, or parties. As a result, students end up in debt because they didn’t account for necessary expenses (food, laundry, etc.). The causes for this irresponsible spending is usually linked to the independence that students feel when they first arrive on campus. They have the freedom to

First of all, financial management is the efficient and effective control of money. Giving students the option on financial management in high school could prepare them for the nasty world

In our busy world, proper financial management skills are something put by the wayside for other, more important things, such as core high school classes, jobs, sports, friends and family. The fact is, there are other more important, and more fun, things to be doing rather than learning about simple and compound interest. Another problem this class would address is the fact that many students are out of touch with the money aspect of the world. Many students hold the disillusioned idea that their chosen career will make them at least $100,000 dollars per year, which leads them to believe they can afford $80,000-$90,000 dollars in debt. One of the last reasons that we need financial management classes, are that people rack up not only school, but personal debt as well. Americans have one of the highest standards of living in the world, leading to the feeling that we need certain things in order to be happy. The inability to live on a budget is something this class could teach. Students need to know how maintain a fiscally frugal life. The fact of the matter is, most students will not get a lot of necessary knowledge needed to survive as an adult. This is why we need a class in high school, so that every student has the opportunity to learn, and they can make the choice for their

Building one’s credit is a great deal easier said than done, and while credit cards can be a good solution to this problem, they can also be a burden if one is not careful when using them. Not only can it be detrimental to one’s financial budget, but it can leave a vast impact on a College student who is already in debt from financing their college tuition and living expenses. Entering into College students are not incredibly aware of how credit cards actually work and don’t have the financial background to understand the repercussions that credit card debt can bring. Which in turn can result in high credit card balances that will take a sizeable amount of time to pay off. Not only does this affect the students financially but in other ways as well. For example, the dropout rate in students with higher debt is a great deal higher than students with low, or no credit card debt (Norvilitis 635). Research has also shown that it creates a lower self-esteem and a decreased feeling of financial wellbeing which can create higher stress levels, which can result in the eventual drop out of a student due to the additional stress (Norvilitis 635). With this being said, we can see that there is a need for some type of reform and education around credit cards for College students. Hence, we can say that while credit cards are a great way to help build credit, they can also be very dangerous, leaving students with an enormous amount of debt if they are not careful, could education on

Choosing a long term career is an essential life decision. Therefore, I have concluded that my five-year objective consists of obtaining my degree as well as pursuing a career in Management within the Finance industry. With 15 years of finance experience achieved it makes considerable sense to continue my pursuit within this industry. This provides a significant amount of available career options. Career options include management of a small department within Finance such as Payables, Receivables, or Tax. Additionally, managing on an executive level is composed of positions such as Company Controller, Director of Finance, as well as Chief Financial Officer. Finance managers act as the responsible party for the financial health of an organization. As a Finance Manager, it is a requirement to develop as well as motivate staff. Financial managers require an in-depth working knowledge of the entire financial industry. The Finance manager plays a crucial role in how the organization functions collectively. I will benefit from the information in this thesis by using it to encourage me in making an appropriate career choice for my future.

Since the great recession, most economies the US economy has gone five years without full recovery. The labor market and incomes of low-and middle class was severely affected, which later dented the growth of the economy. Nonetheless and somehow surprising, the recession was as a result of a shortfall in household economies and demand for goods and services, which would be solvable to avert such a situation

In the same way college students struggle with the same problems as those in their 40s. On college campuses, “70 percent of college students possess at least one credit card” (Norvilitis). The trend towards credit cards is not only a college problem; Americans with a summation of different economic situations in general have increased the number of credit cards they have. The concept of buying whatever you covet when whenever inclined is a considerable selling point.

For the most part, worldwide debt comes from what many people would call a good thing – homeownership. Although one target group for instance, millennials, are much more likely to have student debt than home loans. Having debt is not inherently a problem, but the rising interest rates with no beginning of steady career employment can be the start of a downward failure to college graduates. The [blank] system makes having a reasonable financial strategy nonexistent.

The advantages of debit card versus credit cards used by young adults are debit cards will not allow you to mismanage, overspend or go into debt. The most common explanation for credit card debt for people under the age of 25. “Demographic and credit trends show that young people, and in particular students, may be the next segment of credit users that will face difficult financial times. “In the United States, there are 19.1 million students who are attending colleges and universities (US Department of Education 2009).” They account for approximately 6% of a population of 308 million people (US Census Bureau 2011). On average, students possess 4.6 credit cards (SallieMae 2009). They also owe more on their credit cards than they did just a few years ago; in 2004, students owed, on average, $2,900 on credit cards whereas in 2009 this figure soared by 78% to $4,100 (SallieMae 2009). Moreover, young consumers account for the second largest rate of bankruptcy in the United States (Sullivan, Thorne, and Warren 2001). Together, these figures suggest that young adult consumers in America spend more with their credit cards than they should. In addition, research shows that credit card debt is associated with financial stress (Grable and Joo 2006) as well as poor academic achievement (Pinto, Parente, and Palmer 2001). The desire to use credit as a form of payment but with no steady income available to repay the credit line. For