“Money doesn’t grow on trees,” my father asserts to me for the millionth time, “where’s all the money I gave to you yesterday?” Not to offend anyone, but if you’re parents never use a phrase like this, then chances are you're spoiled. Ever since the opportunity to acquire cash became available to me, my parents have looked to cut off my financial givings as much as possible. Although it may seem detrimental having my parents cease from helping me pay for simple expenses like gas, it was one of the best things for me. Without my parents indirect guidance, my financial status may be backwards like many of my fellow students today. Their influence of pushing me toward independently funding my high school fun and necessities has taught me so much about saving money. Approaching a four-year college experience and beginning life on my own, funds are going to be tight. The way I look at it, there will be no pennies to spare. Every child growing up dreams of retaining thousands of their own dollars in the bank. Yet, few do anything to reach this dream during their young days. A trend in adolescents has caused them to lose a sense of the value in saving. Many believe that it won’t establish a difference down the road when the potential to garner larger amounts of currency proves to be higher. It really starts with the lack of value in small amounts of money and personal enjoyment that drives high schoolers away from saving. Students must begin saving money as early as possible, high
When you make any charges on a line of credit you will be subjected to interest rates that can increase your debts steadily over time. This debt can creep up on you without knowing too.
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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.
Student loan has been skyrocketing since 2006, and it keeps increasing each year. To make
College students graduate with an average student loan debt of approximately $37000. Of course, that's not the whole story. Millions of college graduates have student loan debts ranging from $50,000 to over $200,000.
Because of the nation’s national rising debt, student loan forgiveness has been a significant topic of debate because of how much it can affect our nation’s debt and doesn’t always help the student. Student loan debt is one of the highest debt causes, but sometimes we forget that we are the ones that sign the line on the contract to be in years of debt. This is because we value our education. But this does not mean that just because we can’t find an amazing, high paying job right out of college that we should have our loans forgiven. We want the easy way out of something that isn’t easy, so why should the government pay for our debt? Yes, college is very expensive and that is the governments fault, but again we are the ones that signed the line on the loan papers. (Sam Adolphsen, 583)
Student loan debt is becoming more and more of a problem as time goes by. Evidentially, it is only its interest fee that student loan debt is becoming known for. According to Student Loan Hero, “Student loan debt is mostly for four-year or graduate degrees (“Student Loan Debt”). Student loan debt does have effects to people’s lives, but only because they allow it to build up from not paying it. Student loan debt is not something people has to live with, but it is what they choose to live with it can be taken away nothing is permanent. Most people do not understand what Student Loan Debt really is, and the confusion it brings in people’s lives need to be distinct; this problem can simply be done by colleges protecting students from going into debt, and loan company’s should allow them eight years after graduation before putting them into debt.
It is approximately 12 months, 10 days, 2 hours, and 54 minutes until the class of 2017 graduates from Stockton High School and unfortunately, while we are ready for college, our bank accounts may not be. Many people do not start thinking about saving for college until they enter high school or worse, their senior year. Saving should start while you are young, I mean really young. The sooner you start saving, the better! Paying for college starts when you are young, but may not end until you are well out of school.
Although the reliance on student loans continues to increase for college students across the nation, the vast majority of American teenagers are not required to attend and complete a Financial Literacy course before graduating high school. According to Jillian Berman, only five states scored an A on the 2015 Report Card on State Efforts to Improve Financial Literacy in High Schools, and those same five states are the only states in the country that require students to take a dedicated semester of personal finance courses before graduating (Marketwatch.com). There is an obvious problem with the state efforts to properly educate finances when 14 out of 50 states rank in at a failing grade. Money is an essential asset to life on Earth, and proper education on financial management is vital for the basic requirements to sustain life. Education on how to manage money in order to afford food, shelter, clothing should be the main priority of the Financial Literacy courses. More in-depth are topics
Source: CDC, National Center for Health Statistics, National Health and Nutrition Examination Survey. Health, United States, 2002. Flegal et. al. JAMA. 2002;288:1723-7. NIH, National Heart, Lung, and Blood Institute, Clinical Guidelines on the Identification, Evaluation and Treatment of Overweight and Obesity in Adults, 1998.
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
“Your assignment is to write a persuasive essay and present it to the class in a week. You will be graded based on how convincing it is. Today we will be choosing topics,” announced Mr. Bowerbank, my 7th grade English teacher and ruler of classroom 110. My class simultaneously groaned at the prospect of work. I simply lifted my head with intrigue as it was already May and about time we had our first essay. He then proceeded to give examples of topics we could choose and gave us some time to think before we had to tell him our topic. My classmates were already rushing to tell the teacher their idea lest someone else steal it. That meant the usual abortion, death penalty, or drug use topics were out. I really couldn't think of anything and the teacher was slowly making his way through the remaining students like an executioner beheading criminals in a line. I have always thought that he would make a marvelous supervillain if he had a curly mustache, a tophat, and a cape. Eventually my name was called. I slowly dragged myself over to his desk. Even sitting down, he still seemed to tower over me. “What is your topic Cindy?” As usual in such desperate times, my mind turned to food. “Waffles are better than pancakes.” I figured that a waffle was just a differently shaped pancake with a nicer texture. “Hmm. Excellent topic. I look forward to your essay!” I survived to live yet another day.
Saving money is an important part of your financial health. The more you save, the more you can feel at ease whenever a rainy day might hit. You cannot predict the future but you can prepare for it. If you prepare now, your future self will thank you. But how can you save if you have so many bills and only one stream of income? Here are some tips you can use to rack up that account with a single income.
Now in the modern times, the average american spends about $56,000 a year. That's a lot. Luckily in "modern times", we also have many ways on how to save money—not just spend it. Some ways you can save money are by just creating a budget, keeping track of your credit, and learning how to use your money wisely using the resources you have. By doing these simple steps, you will probably be amazed on how much you save.
In 2016, an accumulation of almost 1.4 trillion dollars of student loan debt was outstanding in America (Kess). Students from all over the nation, and the world for that matter, are going to higher education without the financial ability to do so. One of the few options for financial aid available to these prospective college students is to take out student loans to pay for the high tuition of most universities and colleges. While these loans are a modality for attending higher education, they often come with strings. Along with being several thousand dollars in debt, interest also accumulates into the total amount of the owed financial total. Until these loans are repaid the interest keep accumulating and the debt grows. With debt still affecting students negatively well after they finish their higher education, the price of college tuition should be abated.