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Personal Finance For Seniors Essay

1016 words - 5 pages

“ All days are not the same. Save for a rainy day. When you don’t work savings will work for you.” -M.K Soni. How does this pertain to seniors in high school and their financial futures? Can saving up now truly benefit you later on? Does saving up a great deal of your money save you later on down the road? What is saving, budgeting, and planning on your financial stability for your future? These are all questions I asked myself that I knew I would use in this essay. Through a set of thorough research, dedication, and thought I came up with one answer that is easy. Saving now will benefit all people, especially seniors in high school. It will help them have no worries on a variety of things, ...view middle of the document...

Second thing I wanted to show you was college money. Tuition, book fees, room and board, are all things you need to think about when going to college. You also need to think about budgeting for your everyday needs to ensure that you don’t over spend. What is budgeting? Budgeting is an itemized summary of estimated or intended expenditures for a given period along with proposals for financing them; a systematic plan for the expenditure of a usually fixed resource, such as money or time, during a given period. Get a job while you’re in college, still apply for scholarships, but that savings you put aside to use just for college, could help you get by while you’re still trying to figure things out. However, using a budget for the rest of your life will help you even more while in college, if you get married (although may change due to more expenses), and when you retire. Think of it, no worry, no hassle, and no stress of not being able to make a payment and putting yourself into to debt.
Third thing I wanted to discuss and show is after college or if you decide not to attend, what will you do if you have no job? You have no degree, and it’s difficult to find someone who wants to hire you, yet you need money to help pay for your gas (so you can make it to interviews), phone bill (so you can get calls from different employers), and many other things. Then you think to yourself, “That’s right I save money while I was in high school, and I have $700 dollars in my savings account. Problem solved.
The fourth thing is basically when you are getting older. Say you used a good majority of your savings while you were in college to help you pay off your student loans. You...

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