One of the most important lessons I retained from the NuVision workshop would have to be the vital skill of money management in today’s economy. Properly organizing financial affairs requires not only responsibility, but having list of priorities as to what an individual’s income will be spent on. As a young man on the verge of graduating from high school, I understand the importance of gaining as much knowledge about financial stability as well as learning how to manage my money. I am well aware that good money spending habits will require my utmost discipline and maturity. With the new information I received at the workshop, I am now able to brainstorm methods of money management techniques, as well as aspire to be financially independent.
As quoted from the Greek philosopher Epictetus, “wealth consists not of having great possessions, but in having few wants.” What this means to me is that an individual’s wealth is not based upon the materialistic things he owns, but rather the few desires of the individual.
Having few desires will essentially mean spending less and saving money. A major problem faced today is revolving debt. This called credit card debt. Although this is a common problem in today’s economy, there is a way to handle this predicament by debt stacking. Debt stacking allows individuals to make the same monthly payments on all of your debt by accumulating it all on what is called a target account. Using this method, I am now able to help my family get out of there revolving debt in order to secure a better financial future.
Time and consistency are the key points needed in order to establish financial independence because wealth does not come quick and easy. An example of this can be equity investments or investing in the stock market. The stock market has many benefits through consistent time and dedication to gain prior knowledge on a particular company that shows promising signs of success. The success of investing in the stock market could be a large sum of dividends. I believe stock investing is important towards achieving financial independence because it can provide a means of residual income, so that an individual can spend time doing something else that productively provides a source of income.
In my future, I would like to be a private equity analyst manager. Being a private equity analyst manager requires for me to be constantly be doing research on private companies as well as make private investments on companies. A major reason I would like to have this future career is because I will be able to gain as much knowledge on what I should invest in as a means to give me an edge to other people who do not spend as much time studying the market. Another reason I would love to have this career in the far or near future would be, so that I can be able to take care of my family. We have always struggled financially. Lastly, I intend to apply the knowledge I gained at the workshop, and I intend to create a bank account and input $200 each month in order to save for any type of education I will need in order to acquire the skills to be an analyst.
In conclusion, I understand the importance of the NuVision lessons and I intend to apply them to my life in order to achieve financial independence. In order to achieve those goals, I will learn how to be responsible with credit cards and to pay them off on time, so that I am not charged excessive interest. Secondly, I will study the methods of investing in today’s market, so that I can gain residual income. Lastly, I would like to not only study stocks, but to make a career out of analyzing them. This will create opportunities to tend to my family’s needs and save for my retirement.