I learned a lot of helpful information from this chapter. The first thing that I learned from this chapter was that should try to avoid student debt as much as possible. Secondly, I learned that there are multiple options for life after college. Lastly, there are multiple ways you can avoid debt.
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If for some crazy reason my plans don't work out, my first fallback plan is to move to St. Louis with my brother. I would try to get a job and work where I could, but I would definitely try to get into St, Louis University. If that doesn't work out I would try to join the military.
After high school I plan to attend college. I would like to become a doctor and study at MSSU. I plan on working through college and paying what I can while I'm in school. I want to try to get of of college with as little debt as possible.
I learned that a credit score is a matter of opinion. I had never learned that some people like the credit score and that some don't. I also learned that the fastest way to get out of debt is to use the debt snowball method. If you pay your smallest fee first and build your way up it makes it a lot easier to get out of debt.
I really learned a lot from the guest speakers. I learned that credit can be a good thing if you understand what you are doing. Secondly, I learned that a good credit score was above 740. Finally, I learned to pay your rent with cash so that it can be paper trailed.
My personal opinion about debt is that it is very negative. Using credit cards creates a sense of delaying pay for something. It is very bad when someone uses credit cards a lot because it may seem good at the time but it is really harming someone.
Most of the content we covered in this chapter I had never learned before. The first thing that I thought was interesting was that 70% of Americans live paycheck to paycheck. The other idea that I learned was the envelope system. This seems like a very practically way to spend money.
A budget is a finical spending plan that you make. This plan is a personal one that you consciously have to follow. To me, a budget is something that you have to stick out with and follow like the bible.
I learned a lot of new information that will help me in the short term and long term. To begin with, the short term ideas that stuck out the most were saving an emergency fund and investing early. These ideas are both things that can help me out greatly.
The long term ideas that I learned were inflation and time value of money. Inflation is the changing of prices that can be greater or lower based on the demand. Time value of money is how interested you will be in something in the long term. The safest way to become a millionaire is to be born into money. They are the wealthiest people that had to do zero what to get money, they just use their parents fr grandparents funds.
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AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
November 2016
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