Roy D. – Bell Gardens High School

Money is a Tool

In contemporary society, many opportunities to spend money and be a consumer is much more prevalent than in the late 1900’s. Products have grown in value, but not necessarily in quality. On top of buying luxuries, there are other expenses that are required to co-exist in this country run by capitalism. Insurance, life insurance, housing, transportation, school, family, and many more expense become a responsibility that young adults face as they get older. Fortunately, there are many ways to save your money and remain debt free in this beautiful world of capitalism.

Prioritizing necessities over impulsions is an excellent way to save money. Many people gain a certain amount of money and automatically the intention is to spend it all. By prioritizing where your money goes on the basis of necessity, money is saved at significant rates. To put it into perspective, if I earn $2,000 every month, what should be the fundamental necessities to survive. The most fundamental necessities in life is food, housing, and transportation. By focusing on what you need rather than what you want, money can actually be save up. Out of the 2K only 60% of that is needed to fulfill these basic fundamentals of life, what happens to the other 40%? Well, you manage it. 40% of a budget of 2K is exactly $800.00 and suppose we cut it down to $200 or even $100, what do you do next? With this extra money I suggest created a savings account. A savings account will allow your money to sit there and grow off the interest that the bank offers. After only 1 year, your capital gain would have increased depending on the interest rates. Another way of remaining debt free is picking up a job and avoiding loans. College students fall victim to bank loans, depending on how much money you get, in the future you must pay with interest, this leads to debt. Many students after college are in debt because they can’t pay of their loans quickly, so the interest starts building and debt occurs.


In conclusion, remaining debt free isn’t a big a task as many people say. As longs as you use all the tips on saving money then a healthy bank account is inevitable.