Eduardo H. – McBride High School

Money Management Makes Miracles

We all know that one saying, ‘Money doesn’t grow on trees,’ although many do not follow that quote. America is fueled by spending for goods and services, creating many wants and desires for these things, but we shouldn’t let them devour our bank accounts and limit our goals and aspirations in the future. Learning money management can change your high school, college, and adult life forever.

At the present time, I am a senior at McBride High School and managing your money at this young of an age can have a significant impact on your finances and habits. Consider this scenario; every day before class I buy a coffee from the local gasoline station mini-mart. The coffee is only $1.19, such a cheap price right? Well, if this continued throughout the whole school year not including weekends and holidays, I would have spent roughly $213 dollars in total. It is important to consider that small things do add up in the long run. This ties into another lesson where the more you save, the more you earn. If I would have taken those theoretical $213 and put it into a savings account, I can earn interest over time. Additionally, recklessly spending can cause bad habits starting as early as high school. This would lead to uncontrollable spending in the future which would not be beneficial going into college.

Shortly in the fall, I will start my freshman year at college. Tuition, books, food, room    and board are all expenses that will need to be paid. Because of the lessons I’ve learned, it could drastically improve the worth of my dollar. Purchasing groceries and cooking costs less than   eating and it is also healthier. Although, it is critical to make sure the groceries are used to their full capacity and that no food goes to waste, since ” … college campuses as a group throw out a total of 22 million pounds of uneaten food each year” as stated by the Food Recovery Network. Furthermore, it is critical to think “Is this purchase necessary?” Sometimes that one item you buy because you “might need” can hinder you when a necessity purchase is required. These lessons aid my goals in getting a degree by making college less about stressing over money, and more about succeeding in my studies.

Eventually, I’ll will complete college and move on with my life to have a home, children and many bills. A way to cut down on those expensive bills will be to conserve  resources.

Leaving the light on when not needed, running water while brushing teeth, and turning the thermostat to 80″F in the winter can increase the payment of bills. This will get me those extra saved dollars and put them towards other things such as clothes and furniture. When buying goods, it’s an excellent idea to purchase when things are on sale. Contrastingly, just because it is on sale does not mean it’s a good idea; remember to purchase when necessary and manage your spending. Lastly, creating a budget for myself is key. Being aware of how much you spend in a month can increase money management consciousness. With these lessons, this will assist my objective to live life long and prosperous and retire with financial security.

Given these points, money management has tons of benefits to anyone from young adults to retired seniors. Being self-aware can help me achieve my goals of graduating high school with good spending habits, making a greater worth of money, and becoming financially stable at an older age. I would like to thank the NuVision Federal Credit Union for giving us young adults the opportunity to indulge and become more aware with money management, and for sponsoring this Think Tank Challenge essay contest. I’ve learned from these teachings and can now save smarter.