Budgeting assignment Based on the graphs and reports from my Clearcheckbook I would be able to say that my spending habits are modest compared. Very rarely did my expenses exceed those of the rest of the class, though I did see some room for improvement in the area of miscellaneous during the month of February. During that month I spent a total of $583 which was a little too steep seeing as though my classmates on spent an average of $222. Most of that money was spent toward activities on the weekend with my teammates, whether it was something such as bowling or roller skating. If I was to cut back on some of that reckless spending going towards the items that I want instead of the items that I need my account would be in much better shape.…
Book Review Summary In Raising Financially Confident Kids Hunt seeks to equip readers to prepare their children for the reality of managing money, and how to do so without getting into debt. American society, the credit card industry, and advertisers, all strive to turn children into materialistic consumers who spend money without a second thought. Hunt describes her own childhood and how she utilized money and products to feel better. Carrying this same idea into adulthood she spent more than she had to attempt to not only make herself happy, but her husband and kids.…
Erica Alini starts off the article strong and is able to narrow in on the problem at hand from the beginning of the article. Erica Alini’s article “Generation Spend” focuses on the financial irresponsibility of thousands of young people in this generation. Alini uses the term “serial shopper” as a descriptor for members of Generation Y(200). The main issues concerning Generation Y, according to Alini, is their ability to spend while being chronically unable to accumulate savings. She clearly supports this issue by referring to statistics associated with dates, different studies in relation to the topic and direct quotes from primary sources such as RBC bank parents and a few university students.…
While some students have a way to pay for college (parents save up or them, financial aid, work study,), it is still not enough to take care of everyday needs. Students constantly worry how they going to cover basic needs (for the rest of their college career) and how are they going to pay back student loans after graduation or (if it applies) how are they going to pay or graduate school. Students have to deal with huge financial stress of college, it might eventually cause students to either drop out or take a semester off. Financial stress might affect new incoming students rather than upper class students more.…
People thought they could just spend money without any consideration of what they were buying or how expensive it was, mostly because “283...Americans...paid taxes on incomes of more than a million dollars a year,” (Doc…
A dream. Career choice. A higher education. All these aspects are what many people think of themselves doing in their future. What they may not know is the hidden cost of that higher education that you want.…
After spending the summer working long hours at a minimum wage job, I quickly came to understand the value of money and how to budget. I had always been a very frugal person, but once I started earning my own money I became even more careful with my spending. I made sure I was absolutely positive anything I considered buying was worth my investment because to get more money meant using my valuable time. Though deciding whether to buy a new t-shirt is a whole lot different than deciding whether you want to attend college, the choices are similar. Both require you to weigh whether the product you are going to invest in is worth its expense.…
Living in America, you tend to pick up things that might be uncommon to you because of where you come from. At the time that you can't even afford the things that you wanted. Growing up in the Philippines, my family struggled with financial issues, most of the things that I had were hand-me-downs. Living that kind of life taught me to not be too wasteful and don't throw it out if it's not completely empty. When my family arrived in the United States I was eight years old and was also very excited because it was a new start for us.…
Why do College Students get so Stressed Out? College students get so stressed out, this is caused by college issues, relationship situations, and trouble with money. These are the three main points of why students get so stressed now a days. Any other those main points could get anyone stressed out, what really matters is how people handle the stress. College is so stressful to students because for some people it is the first time in their lives that they are expected to think for themselves.…
The average college student graduates with over $25,000 in student debt, a 25% increase in the past ten years. The amount of student debt has risen at an alarming rate in the past decade. To put things in perspective, Americans owe more money in student debt than credit card debt. It’s important to closely evaluate the causes and effects of rising student debt in regards to its influence on America’s youth and economy.…
“The College Debt Trap,” an article by Janet Bodnar, describes some solutions that current and future college students could find very valuable. Debt is a common problem that many college students will encounter if they do not plan out their money uses wisely. College education can be very expensive, but can be less of a burden financially if planned lout correctly. Some college students have to pay thousands of dollars in student loan debt that catches up to them years after they have graduated.…
An example of an inferior good in my life that I “deal” with because of my college budget constraints is my headphones. I use my earbuds to listen to music on my way to class and in my dorm and to listen to videos. Since I take my headphones nearly everywhere with me and use them constantly, they get fairly worn out quickly and do not work as well as they did when I first purchased them. The sound quality seems to deteriorate over time. Furthermore, the flexible plastic caps on my earbuds also fall off and get lost, which forces me to purchase yet another pair of cheap headphones.…
1. On a survey conducted by American Student Assistance 35% of members said that buying daily necessities represents a challenge because they have student loans. (Lanza, 2016). 2. Recent graduates can’t afford to plan for retirement.…
Game of Loans Education should not be a debt sentence. However, according to Mark Kantrowitz in The Wall Street Journal, the average student this year will have to pay back more than $35,000 in student debt (Sparshott). Statistically, that is more than buying a new 2016 car or truck, which averages around $33,560. For a college student that is just graduating and makes less than 30K a year, that is outrageous!…
Financial literacy is the ability to use knowledge and skills to make effective and informed money management decisions. In order for one to become financially literate is a long process that usually starts when your mom and dad give you your first piggy bank to save up for that Baby Alive you have been begging for all year. Then one day it turns into buying a new car or having good credit. Learning to be financially literate is something that many people in my generation lack but is an important skill for us to learn to become successful assets to society in the future.…