Samantha L. – Carson High School

Think. Tank. Challenge

I was lucky enough to have an internship for the summer of 2016, and I thought that I understood the value of money. I figured that since I’m now working, I can manage my money, however, Think. Tank. Challenge is one of the many reasons as to why money shouldn’t be discarded on going out, it should be invested.

I know once I go to college, I’ll take out a loan. I understand that I won’t be coming out debt free, so many students are scared of having loans to pay off by the time they graduate.

However, I do want to do work study, and one of the tips from the workshops was to have automatic transfers into your savings account. I know I’m not going to be stagnant, thanks to the Think. Tank. Challenge tips. Once I get my Bachelor’s degree in biology, I’m hoping to go ahead and get my Master’s degree as well and by doing that, that right there is another loan that I’ll   have to take out. Loans can seem endless to a student on college, but by establishing good credit, banks will see you as someone who is responsible, and once you get ready to buy a car or a house they’ll see your credit history, and if you pay everything off in a timely manner they’ll see you fit as someone who is responsible with money.

One of my goals for high school is to save up for college. It has been my goal when I started the internship back in the summer, now-and-days technology gives younger people the advantage, and so it’s easy to install budgeting apps right onto your phone. I didn’t realize it at the time, but handling your money is easy. As a young adult, I can speak in some of their cases when I say that budgeting your money when going out with friends can be challenging, but by downloading the budgeting app onto my phone, I’ll be learning how to split up my money, and part of that budget is my college expenses.

While I’m at college I’m hoping to get a chance to study abroad. My parents on the other hand aren’t too supportive of that, they see it as a financial burden. I don’t want to stay in one place for the rest of my life, and I think that studying abroad will give me the option to venture out more into the world. I’m not going to lie when I tell you that thinking about taking out loans in the process of me wanting to do or get something can be nerve wrecking, but the Think. Tank. Challenge reminded me of why I want to fulfill my dreams and don’t let the issues of money stop me in my tracks. It’s all about learning how to trust yourself with the money and setting wise decisions such as establishing as emergency fund, setting up long term savings plans, and paying off debt strategically such as loans, Think. Tank. Challenge taught me how to once again pursue my dream in study abroad because so many people want to do it, but they get stuck once they see the cost. I don’t want to become stuck.

Raising a family is hard enough, but then add mortgage, lighting bill, electricity bill, water bill, etc. then it gets even harder. Now I can’t speak in this department, but when I look at my parents when their talking care of all the money problems, I see them tired and stressed out. My parents set the example for me however, like them I want to have a retirement plan because I can’t see myself working for my entire life. So having a long-term savings account will really influence my goal for retirement, because I know once I do stop working I’ll become insanely bored staying at home, so a long-term savings account is my key in that goal.