Nuvision Challenge Essay
There were many important topics to go over during the presentation hosted by Nuvision. Most of them revolved around saving money and why it is beneficial and necessary in the first place. I feel as if I had never really payed attention to money and its stages of preservation. As a person who is about to enter the world of adulthood, I now understand that it is important to take every aspect of money very seriously.
A couple of ideas that very much caught my attention were the conservation of money, reasons why it was beneficial to do so, and how these two steps may alter the outcome of my future. Conservation of money is a way to keep spending in control and saved for the true emergencies or events in life. Reasons conservation is beneficial is because life will always be filled with accidents, surprises, emergencies, etc. No one can be sure what will happen in the next couple of days and having money collected for these periods is its own reward. These ideas alter my future by allowing me to live comfortably without worrying about where my money is when I eventually do pass through troubled times
In my opinion, the only way to apply this newfound knowledge into my life would be by starting on saving my funds as soon as possible. Not only that but make two separate accounts in order to conserve money that I earn from a job that I will eventually have not too far long form now. Now that I am coming of age, I can apply a more serious outlook on money to ensure a comfortable life. Doing so would bring beneficial when I am, exposed to jobs and wages.
In my opinion, young adults, can become amazing conservers of money by keeping more than one bank account for emergencies, commit to planning funds, and understand the importance of why they do what they do. Young adults should educate themselves on where their money goes, how they can manage where it goes, and why it is there in the first place. I highly recommend ‘checking the charts’ or fund books more than once to check that every fund is where it should be. There should always be knowledge as to where funds go and managing it as well.
The most important characteristic a young adult can possess in order to remain debt-free is self-control and a well thought-out plan for their funds. Being able to make sacrifices is inevitably part of having self-control. Paying bills and other fees on time may be one of the best ways to stay debt free; and even paying ahead of time would be ideal. Setting goals and committing to them is important when it comes to staying debt-free, fund planning, and conservation of money.