Looking back on my childhood, I realized a lot of things 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 good use. At the time, I thought 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. However, not everyone in my family has made smart decisions with money, so I've had a lot of advice overall.
My grandfather had many odd jobs, and he always found a way to make money whenever and wherever …show more content…
I had an uncle who constantly went into debt, and he had a hard time the entire time he was in debt. He might not haven given me any actual advice, but that definitely set a precedent of what I didn't want to become. Even to this day, he is still trying to climb out of it the insane amounts of debt that are caused by credit cards. It's hard to find a job when your credit score is extremely low. Debt is a vicious cycle that is extremely hard to break once you get started in it, it is best to avoid debt at all costs. Consequentially, that is exactly what both my grandparents had taught me to. In short, I have had both sides of the money saving spectrum to deal with and learn about, and hopefully that sets me up for a good future.
Today, seeing how well my father and mother both have succeeded, and how much my uncle is trying to climb out of debt, I've realized many things, some of which will stick with my family for a long time. Hard work and dedication will always pay off in the long run. It was those lessons that really taught me how to handle money, seeing how hard my family worked to save their wealth just to pass it on to their children. Needless to say, I myself save money as much as possible, just like my grandparents would've …show more content…
I've been taught that being in debt is like being enslaved, where a person has to throw money at this unimaginably high number until it disappears. Who would want to be in debt when it is described like that? Point being, the drawback is in the debt. Loans sound good at first, but years later, you'll regret having to pay it off every month.
However, the benefits warrant some discussion as well. If handled correctly, loans won't be that big of a deal. Moreover, you can cut down on the costs by working during college. Loans make it easier for a person to pay for college by offering them money for their tuition costs. Free money means you can pay for almost any college you can get into. It a student came from a poor family, loans would be a blessing, since you could hopefully land a good
My grandfather had many odd jobs, and he always found a way to make money whenever and wherever …show more content…
I had an uncle who constantly went into debt, and he had a hard time the entire time he was in debt. He might not haven given me any actual advice, but that definitely set a precedent of what I didn't want to become. Even to this day, he is still trying to climb out of it the insane amounts of debt that are caused by credit cards. It's hard to find a job when your credit score is extremely low. Debt is a vicious cycle that is extremely hard to break once you get started in it, it is best to avoid debt at all costs. Consequentially, that is exactly what both my grandparents had taught me to. In short, I have had both sides of the money saving spectrum to deal with and learn about, and hopefully that sets me up for a good future.
Today, seeing how well my father and mother both have succeeded, and how much my uncle is trying to climb out of debt, I've realized many things, some of which will stick with my family for a long time. Hard work and dedication will always pay off in the long run. It was those lessons that really taught me how to handle money, seeing how hard my family worked to save their wealth just to pass it on to their children. Needless to say, I myself save money as much as possible, just like my grandparents would've …show more content…
I've been taught that being in debt is like being enslaved, where a person has to throw money at this unimaginably high number until it disappears. Who would want to be in debt when it is described like that? Point being, the drawback is in the debt. Loans sound good at first, but years later, you'll regret having to pay it off every month.
However, the benefits warrant some discussion as well. If handled correctly, loans won't be that big of a deal. Moreover, you can cut down on the costs by working during college. Loans make it easier for a person to pay for college by offering them money for their tuition costs. Free money means you can pay for almost any college you can get into. It a student came from a poor family, loans would be a blessing, since you could hopefully land a good