Yoset G. – Gilbert High School

Beyond Our Comforts

Growing up, I saw the importance of having money. My family didn’t have much and we would financially struggle just to get by with the basic expenses. I didn’t think about money as much when I was a kid. I didn’t always realize how hard it was for my parents to provide for me. One time I remember my mom couldn’t buy a new school uniform for me, so I had to wear the same uniform from the past school year. Money really does impact your life and the life of the people that surround you.

Not everyone learns to manage money and appreciate what it can provide. I’ve learned to see the value of money. Getting older has brought me more responsibilities. I have witnessed my parents working really hard to get ahead. Their hard work has also inspired me to really take advantage of the opportunities I have right now.

In the “Think Tank “program, I have been reminded to be prepared for life. I have learned, the longer my money sits in a savings account, the more interest will increase. Having a savings account is important because you can accumulate tons of money from interest or compound interest. My plan is to open a savings account and add money as I go and not touch it.

Debt is probably one of the scariest words an individual can hear. Being in debt is something normal in our society now. Most individuals are in debt with something small like a phone or something bigger like a car or a house. Debt isn’t totally bad though, it can help your credit score a lot and eventually make you have a good strong credit score, this way you won’t have trouble with loans or other financial situations.

Probably the easiest way to prevent falling in major debt is to not buy something that you know you really can’t afford. This goes along well with managing your money. It’s okay to take out loans, but also important to remember the risks and be prepared to pay interest back every month.

Growing up is scary and learning about money is super important. What makes it more terrifying is that it is mandatory to learn about finances in order to survive in the world. I think that’s what puts young adults at risk for failure. They don’t know how to manage their money and end up being cheated by many companies and end up in dept. It is inevitable to be in some kind of debt. It’s how you earn credit and that’s how the world works. Eventually we will get used to credit scores, debt, mortgages, and all these other financial terms. It’s important to know how money can help you when you have it, but also prevent you from living your life the way you would like to live it if you mismanage it. For me, I have been gaining more confidence and I feel determined and ready to start my life as a young adult. I hope “Think Tank” helps everyone that took the time to participate, better their understanding and knowledge of financial literacy for their personal path towards a successful future.