Natalie P. – Bell Gardens High School

Teenagers love to go out with friends and have all the latest clothes and technology at the tip of their fingertips, making it essentially hard for them to save money. The peak of a young adult’s financial crisis is when college tuition and fees come into play, leaving them with no money and sometimes in debt. Three simple ways a young adult can save money and avoid being in debt are being smart with money and creating a budget, getting a job, and applying for grants and scholarships while avoiding loans.

Temptation is a big obstacle that students have to learn to overcome. Every month there is a new fashion trend or Apple product release that speaks to the minds of young adults encouraging them to use their credit card. A part of growing up and maturing is being able to make a budget containing the amount available and a list of expenses, this helping you keep track of where your money goes. It is necessary to adjust our lifestyle and stop buying things we will probably only use once and end up shoving it in our closet corner. A lot of the time, money goes to dorm fees and books. To avoid spending so much money on rooming fees, you can try to find a roommate or roommates to split the bill, and now we can buy used books online for half the price, saving your wallet a lot of money.  A tip to remember is that a credit card does not mean we can go on a shopping spree because we have to pay the money back. Building credit is important but we young adults should plan how we will repay the bank.

Paying bills sometimes leaves people with no money for food or other necessities so it is important to find a steady source of income. Finding a job helps students and adults pay bills and gives them money to support themselves. A job will help avoid taking out loans, especially to young adults. Most colleges offer work-study and allow the student to work around their school schedule, making it easy for an adult to get extra money all while attending school. A job also helps a young adult learn how to save money and use it wisely. However, a student has additional help to aid them in their financial need. Scholarships and grants are available to college students and found online or in campus. Scholarships range from hundreds of dollars to thousands of dollars giving students a large amount of help. A student would be smart to apply to as many scholarships as possible, and abstain from loans. Many loans have a high interest rate and slowly but surely accumulate. Many people are still paying their loans back even after it has been years since they graduated.

Saving money is difficult when everything is expensive and tempting. Being organized and getting a job helps young adults mature and pay for their expenses. It is important that young adults remain debt-free and prosper in life.