Miguel – Carson High School

Vote for Miguel

“Explain what young adults can do to become better savers? What will you do in the next 5 years to secure the future of your retirement?”

Money is everything. It is the essential item we need to be successful. Although it is simply paper, it demands us to get it and affects our whole lives for better or for worse. That is why it is so important to save it and be as efficient as possible with it.  There are many options in order to save money. One example can be resourceful dining. From personal experience, I am a huge money spender in regards to eating out. I know it’s a bad habit that I am currently working on. Furthermore, my fellow peers and I can save money when it comes to food by not eating out so much. The occasional outing at Wing Stop or Olive Garden is fine, but to really be conservative, every young adult should stick to dining at home. The food market is a great place where you can buy a variety of different foods that are much more affordable and satisfy your needs. In particular, young adults can easily buy a cheap phone and plan instead of getting the latest! Phone with unlimited data, texting, and calling. No one needs that much.

Relating back to iPhones, other luxuries should not be bought. For example, I have wanted a car for the longest; however when I began to save up the money, obtained a license, and was ready to buy one, I changed my mind after realizing that presently, private transportation is not a necessity. The huge bills that come with getting a car such as car insurance, maintenance, and gas convinced me that becoming a car owner was not worth it. Additionally, I figured having a car wouldn’t be a good investment because I will be attending the University of California San Diego next fall.

Because I am going to college, this also means I will soon become encumbered with a considerable amount of debt for years. With the loss of my mother in March 2015, and having no contact with my abusive and rehabilitating dad since I was three years old, I am in need of as much financial help as possible. Thankfully I was awarded Social Security benefits that I receive every month and am now financially independent.  However, this will end when I graduate high school. Therefore, I have also begun working at a local Taco Bell, but this will not nearly be enough to cover my payments. Therefore, I am well aware of my spending and have tried many different ways to cut back. Looking towards the future, in the next five years or so, my best plan of conservation is as listed; housing in a cheap apartment while attending school, work study, scholarships, and graduating as quickly as possible so I pay the littlest amount of fees toward college. Other than that, I am planning on working during summers, applying for FAFSA each year I am in school, and much more.

Ultimately, securing the future of my retirement starts with secondary education. Sure I am sacrificing a lot of money at first to attend one, but it will all be worth it in the end. There are many plans I can utilize to pay for student loans and such; and hopefully by the time I graduate I will find a well-paying job. By doing so, I know that I will not only save money for retirement, but also have money to support my own family. I was born into poverty and have overcome so many hardships to be in the position I am today. My goal is to not let my kids go through the same things I had to, and push them to have better opportunities than I had.