Evan L. – Schurr High School

Super Saver

Money! Money!!! MONEY!!! I need to make some money. Hmm. should I try to become a professional athlete. Nope, too slow. How about a supermodel? No, too ugly. What can I do to secure my financial future? Oh, I know! All I need to do is SAVE, just like Nuvision Credit Union taught me.

I used to think of money just as a means to get things that I wanted. If I needed money for the movies, I’d go to the money tree named Mommy. If I needed new soccer gear, I’d go to the ATM called Daddy. This model of obtaining money is not sustainable. I learned from the Nuvision workshop that I should be saving my birthday and Christmas money or any other sources of income I have. The sooner I start saving my money, the more time I’ll have for it to grow.

The main thing I learned other than saving is that Nuvision taught me magic. The magic of compound interest. They told me how I can make money out of thin air just by managing my rate of return. I can estimate how many years it will take to double my money by using The Rule of 72, this is done by dividing 72 by the interest rate I am receiving from my savings.

There are multiple ways for young adults to become better savers. Piggy banks and stuffing your mattress are not good choices since you won’t generate interest but will lose money due to inflation. It’s better to have a savings account to be able to collect interest. Even better would be automatically transferring money into a savings account so that you can learn to live “below your means.” In order to know your means, you need to keep a budget. Keeping a budget will help you avoid debt. If you happen to have debt, you should pay it off strategically. For example, you should pay the minimum on each debt and then pay extra to your debts with higher interest. Paying off your debts on time will establish good credit. Another way to build good credit is by not overdrawing your checking account. To make sure you don’t overdraw from your account you can use budgeting apps. With budgeting apps, you can also keep track of how much money is in your emergency fund. In an emergency fund you want it to have enough money to pay for three to six months’ worth of living expenses. Long-term goals help you plan for the future so when the time arrives you already have a set plan to follow.


Through Nuvision’s help and advice provided at essaychallenge.com, I have learned a great deal of things about saving that I can apply to my future. There are many methods a young adult can do to become debt-free which include saving, budgeting, setting goals, having good credit and having an emergency fund. Now I have a plan in mind to secure my financial freedom. When I am old and rich, don’t come looking for me because you didn’t SAVE.