Managing A Budget And An Individual's Life

David Leonhardt, the author of “Is College Worth It? Clearly, New Data Say,” makes the controversial argument that even with college debt increasing substantially in the United States it is still worth earning a degree. Leonhardt uses a variety of relevant figures and statistics to support his claim of the irreplaceable value of a college education. The majority of statistics used by Leonhardt concern the earnings advantage of college graduates as compared to their counterparts who decided not to attend college. Among the first issues Leonhardt addresses is the growing concerns prospective students and their parents have with attending college such as underemployment after graduation, debt, and unemployment (Leonhardt 33). To refute these arguments, he cites statistics from the Labor Department concerning inequality of income distribution; these statistics were

Over the past decade, it has become evident to the students of the United States that in order to attain a well paying job they must seek a higher education. The higher education, usually a college or university, is practically required in order to succeed. To be able to attend these schools and receive a degree in a specific field it means money, and often a lot of it. For students, the need for a degree is strong, but the cost of going to college may stand in the way of a successful future. Each year the expense of college rises, resulting in the need for students to take out loans. Many students expect to immediately get a job after graduation, however, in more recent years the chances for college graduates to get a well paying job

College graduates, on average, make a whopping one million dollars more in lifetime earnings than those with a high school diploma. Those with a college degree now make $17,500 more per year than those without — a wage gap that's doubled in recent decades. Those without a degree are four times more likely to be unemployed.One of the biggest and most important reasons for anyone to attend college is the upper hand it gives with regards to jobs and career. A college graduate has a higher chance of landing a job when compared to an individual with a high school qualification. Further, a college graduate also has better options and opportunities to progress in their

Recent high school students are debating whether to or not attend college, should consider the benefits of attaining a college degree. For many low or middle income students, this a route to gain opportunities to improve their economic circumstances. An article, “Pathways to Prosperity,” states in 2008, workers with bachelor's degree make about 65 percent higher than high school graduates and workers with associate's degree make about 73 percent more than high school dropouts.. This is evidence obtaining a college degree can be an opportunity to have earnings higher and significantly increase one's income.

College is one of the biggest financial burdens in today’s society for many. Since the recession, people often ponder what the best financial options for students looking to go to college are and what path they should take to get them there. Mike Rose, faculty member at the Graduate School of Education and Information Studies at the University of California, Los Angeles, and Karen Lawrence, the president of Sarah Lawrence College, have both written articles about this epidemic stating the advantages and some possible downsides to pursuing a higher education. During these articles, the two writers are trying to persuade their intended audience that college is an option that could be beneficial for them to take advantage of. They both have different

College graduates can pull in higher paying employers, therefore the states can benefit by earning money off of these employers. Some children’s families cannot manage to help pay for the fees, housing, meals, books, supplies, and personal/transportation expenses, even with the pell grants and other scholarships being offered to them. Sixty percent of college students stress about not having enough money to pay for school, the other percentage are worried about not having enough to pay their monthly expenses on top of school (“College”). This in return may put a burden on society from becoming booming with well advanced and bold civilians due to the lack of interaction with college level wisdom. Student’s should all have a chance at further promoting their lives to flourish at what they believe they want to become, without having to deal with the later emotional struggles of money. Although graduates may pull in higher paying employers, the

Families are now aiming low when it comes to college- or are simply not going at all. Money could play a huge part in this decision- after all, the cost of college has skyrocketed over the years, and so has the amount of student loan debt. This is something even Leonhardt admits, stating that, because of this, only about 33 percent of young adults get a four-year college degree today, while another 10 percent receive a two-year degree (Leonhardt). And even though many colleges offer financial aid packages, that money may soon be cut and the cost of college will continue to grow. It is true that, in my personal experience, just because a student is awarded financial aid does not mean they have a golden ticket to University. This leaves many desperate students the only option of taking out as many loans as they think they can handle- often more than they should. Debt is not a new issue for America, but it is still a problem. Although David Autor, an M.I.T. economist, laments: “not sending [young adults] to college would be a disaster”, no one can ignore the rising rates of loan defaults, and some think it

A budget is something I take as seriously as education: without it, you’d be nowhere but miserable. My mother racked up a lot of debt before leaving my dad and I. She was and is legally supposed to send child support, but she never has. My dad spent until 2008 trying to repay the debt she left us with while she was living in Hawaii buying multiple cars and living in luxury. When I was old enough to understand this, I promised myself that I would never go into debt if I could help it. At my school, Personal Finance is a graduation requirement; while some students were complaining that we were only watching Dave Ramsey “ramble on”, I took it with all seriousness. I would rather listen to Dave Ramsey talk about budgeting on the radio in exchange of not going $60,000 in debt and losing my house because the payments are too steep. As Calvin Coolidge once said, “The only way I know of escape from that constant tragedy is to keep running expenses low enough so that something may be saved to meet the day when earnings may be small.” Knowing that President Coolidge not only shared this value, but practiced it in everyday life as well, made me respect him even more than I already

Rather than associating it with financial woes and four more years of backpacks and tests, further education should be credited with helping the development of one's social skills, personal growth, and becoming a well rounded and prepared member of society. One of the most prevalent issues with sending one to college is cost. Although the majority of Americans say higher education “fails to provide students with good value for the money they and their families spend”, 86%, the majority of GRADUATES say that personally, college was the best choice (Source F). On a student to student basis, stepping out of the present and looking at the bigger picture may be the

Statistics exhibit that majority of people are unable to pay for their further education. Pew Social and Demographic Trends state, “A majority of Americans (57%) say the higher education system in the United States fails to provide students with a good value for the money they and their families spend.” Tuition rates for colleges hyperbolizes its values comparatively to the money families spend. It also proclaims, “An even larger majority- 75%- says college is too expensive for most Americans to afford.” College snatch away the money of American families at a value too high and too much for the average family to spend. Not only does college seize the money many family don’t have to begin with, but it forces families to go into debt. Working extreme hours and trying to pay for college wearies the family’s way of living. According to Pew Social and Demographic Trends, “A record share of students are leaving college with a substantial debt burden… about half say that paying off that debt made it harder to pay other bills… about a quarter say it has had an impact on their career choices.” Debts triggers a person to change their profession and causes hardships to their life in the future. High tuition rates and debts stir students away from college and jobs that they truly want. College acquire families money at an

My personal finances are solid and on track with my attitudes towards money and savings. This budget exercise is common practice for me as I keep track of every dollar I spend. I am a saver and I keep track of my savings using a spreadsheet and updating my information almost every day. Budgeting is a necessary step in order to figure out where exactly money is going and how much of it is being allocated to different items.

The average college student will graduate with 37,173 dollars’ worth of debt and 40 percent of college students will drop out. (Cite should everyone go to college) Despite this, higher education typically allows an individual to follow their passion and make a living off it. In addition, college provides an intrinsic value that enlightens the individual. Although higher education requires a large investment that may not return its original value, I contend that this investment provides one the ability to typically earn significantly more money and pursue their passion.

The expanding gap between the cost of college education and the growth of household income is also putting a restraint on the higher education ambitions of many American families. Amid 2000 and 2013, the average level of tuition and fees at a four-year public college rose by 87 percent; during that same period, the median earnings for the middle fifth of American households grew only 24 percent. That's a tendency that education researchers predict isn't sustainable. This gaps represents a a variation in the idea of college education from a social to an individual

A budget refers to a financial plan that represents the allocation of the income to various expenditure channels such as expenses, savings, and debt repayment. A personal budget is important because avoiding financial surprises and keeping financial stress down helps avoid a crisis and allows you to focus on your overall goals. You cannot avoid all risks in life but if you plan your finances to live within your means, you can avoid being kicked out of your home, losing your car and other terrible things that a solid budget would help you avoid. Knowing what you can afford is a central life skill. Unfortunately, many do not budget even though they know they should (Wagoner, 2012).

Personal budgeting is an important factor in regards to successful long term financial stability. Budgeting has many great aspects as well as showing areas of weakness. It can show the truth about your personal financial spending habits, areas that are not looked at enough, and if there are needs for a larger emergency fund. The reality of personal budgeting is that many people potentially do not keep a personal budget for one reason or another. People also don’t consider the negative effect that it could have on one personally and or how it effects the economy.