As a parting gift, please put this somewhere and read it periodically so you don't forget. You'll thank me long after I'm gone. In the meantime, thank you. I enjoyed this semester.
This article is very interesting because it basically tells you all the things people are doing today that are harmful to them, and they pretty much don't even know it. Some of the things like incurring too much debt seem as if it is general knowledge, but I guess people don't realize how easy it is to build up debt. Not saving enough money for retirement or not starting to save for it early enough is the one out of the seven biggest money mistakes that I think most people have to deal with. People always see retirement as so far away, but in the end it's going to come in a blink of an eye, and they end up suffering because they either can't retire because they didn't save enough money, or retire and don't have enough money to supply themselves with basic needs. This article is very interesting and I hope I remember not to do any of those things as I grow older.
This last article really sums everything up quite well. Its cool to see how such simply steps, like changing your mortgage from 30 to 15 years, can save you such a drastic amount of money. It's scary to think of how many people are paying off their mortgages over 30 years thinking that it is benifiting them because they pay less per month. However, when you add up the interest rates and the amount you pay per month you are more than doubling the amount you paid for the house. I also think this is a great article to refer to because it reminds you of many of the important parts of economics. For instance, controlling your credit card purchases and being aware of your person financial situation.
Hopefully I'll be good with money since I passed the financial literacy test. But I don't know since life didn't come with a How To Guide for Dummies. But at least 7 tips will help me out in the long run. That second page math though. Kramer, it has been fantastic to have you as a teacher again, albeit I do apologize for coming in late...on multiple occasions...oh you must love having me xD But the class in its very basics is the class that you can really take into life, and even if I forget what you said in class, their are still notes and handouts and worksheets and even your teacher website to refer to if I ever need it, which i'm assuming is a lot if I ever feel pressured. Thank you for teaching me this semester. I hope to see you again after I graduate! Kevin An Pd.1
Wow. 15yr mortgage without a doubt…the amount of money saved is ridiculous. I definitely think it's a great idea to be aware of your finances as well as where they are going…if my wife decides she can't handle how amazing I am, I won't sit there wondering where all the money went. Lastly, goals are great and I think it's key to have long term investments…but also diversify with short term investments.
I felt this article summed up the semester of lessons that we should most definitely take with us. The two most important points in the article I thought was number one and six. Number one I felt makes it clear that interest rates can we dangerous and most times its better to pay now then later. Number six I felt summarized the lesson of saving for yourself to be able to do things when you're older. That point attempts to put the message in your head that the best thing to do is save. BR 1
This article basically sums up everything that we've learned over the course of the semester. These are all the life lessons that were drilled into our heads and sound so irrelevant now, considering we're only 17/18, but actually mean something and are being drilled at us to save us from ourselves. All these mistakes make sense as to why they're mistakes and reading this now it seems so easy to just do the right thing and be well on our way. However, i find it funny that, like most people, when it comes time to actually deal with things like a house mortgage or credit card debt we're probably going to forget all about these and make the same mistakes this article is trying to help us avoid. All these mistakes have essentially quick fixes, if you remember them and fix them from the beginning before they even happen. But our society is a quick fix society with a short attention span and can't be bothered with knowing every detail of our financial plan or keeping track of and recording every single purchase we've made on their credit card, including the stop at the drugstore on the way home to pick up a box of tissues. And it's because of this that we make these mistakes and fall into this deep never-ending hole of debt. I think this article is important and remembering this is important because these are the things that can make or break us. This is the time that we start to worry the most about our future and what's going to happen and this article and like handing us money on a silver platter. We decide our own future and we can either have a bright one where we avoid these mistakes of a not so bright one where we make the same mistakes that everyone else has made.
I think that overall this article is saying that you have to discipline yourself. No one else is going to make you start saving or will tell you not to buy that flat screen TV with a credit card even though you cant afford it. Even though we are young we need to be thinking about future financial goals. Do we want an expensive dress now or a comfortable retirement later?- SR Period 1
It seems the key to being financially well off is to get into good habits early. Train yourself to do the right thing financially from the start and then you will not have to worry as much. By starting young, you are way ahead of everyone else who decided to wait. Things that may seem like a good idea in the short term may turn out to be a bad choice. That is why it is important to look look at both the short term and long term positives and negatives before making a decision on anything. Having a thirty year house mortgage, for example, is something that looks much better in the short term than it is in the long term. Although you pay a lot more at once with a fifteen year house mortgage, the amount you pay in interest will ultimately be much less than the total interest paid in a thirty year mortgage. The goal is flexibility and the key is to start making finically smart decisions from a young age. ze pd.1 economics
This article is very interesting because it basically tells you all the things people are doing today that are harmful to them, and they pretty much don't even know it. Some of the things like incurring too much debt seem as if it is general knowledge, but I guess people don't realize how easy it is to build up debt. Not saving enough money for retirement or not starting to save for it early enough is the one out of the seven biggest money mistakes that I think most people have to deal with. People always see retirement as so far away, but in the end it's going to come in a blink of an eye, and they end up suffering because they either can't retire because they didn't save enough money, or retire and don't have enough money to supply themselves with basic needs. This article is very interesting and I hope I remember not to do any of those things as I grow older.
ReplyDeleteE.B pd 1
This last article really sums everything up quite well. Its cool to see how such simply steps, like changing your mortgage from 30 to 15 years, can save you such a drastic amount of money. It's scary to think of how many people are paying off their mortgages over 30 years thinking that it is benifiting them because they pay less per month. However, when you add up the interest rates and the amount you pay per month you are more than doubling the amount you paid for the house. I also think this is a great article to refer to because it reminds you of many of the important parts of economics. For instance, controlling your credit card purchases and being aware of your person financial situation.
ReplyDeleteper1 D.lieb
Hopefully I'll be good with money since I passed the financial literacy test. But I don't know since life didn't come with a How To Guide for Dummies. But at least 7 tips will help me out in the long run. That second page math though. Kramer, it has been fantastic to have you as a teacher again, albeit I do apologize for coming in late...on multiple occasions...oh you must love having me xD But the class in its very basics is the class that you can really take into life, and even if I forget what you said in class, their are still notes and handouts and worksheets and even your teacher website to refer to if I ever need it, which i'm assuming is a lot if I ever feel pressured. Thank you for teaching me this semester. I hope to see you again after I graduate!
ReplyDeleteKevin An Pd.1
Wow. 15yr mortgage without a doubt…the amount of money saved is ridiculous. I definitely think it's a great idea to be aware of your finances as well as where they are going…if my wife decides she can't handle how amazing I am, I won't sit there wondering where all the money went. Lastly, goals are great and I think it's key to have long term investments…but also diversify with short term investments.
ReplyDeleteI felt this article summed up the semester of lessons that we should most definitely take with us. The two most important points in the article I thought was number one and six. Number one I felt makes it clear that interest rates can we dangerous and most times its better to pay now then later. Number six I felt summarized the lesson of saving for yourself to be able to do things when you're older. That point attempts to put the message in your head that the best thing to do is save.
ReplyDeleteBR 1
This article basically sums up everything that we've learned over the course of the semester. These are all the life lessons that were drilled into our heads and sound so irrelevant now, considering we're only 17/18, but actually mean something and are being drilled at us to save us from ourselves. All these mistakes make sense as to why they're mistakes and reading this now it seems so easy to just do the right thing and be well on our way. However, i find it funny that, like most people, when it comes time to actually deal with things like a house mortgage or credit card debt we're probably going to forget all about these and make the same mistakes this article is trying to help us avoid. All these mistakes have essentially quick fixes, if you remember them and fix them from the beginning before they even happen. But our society is a quick fix society with a short attention span and can't be bothered with knowing every detail of our financial plan or keeping track of and recording every single purchase we've made on their credit card, including the stop at the drugstore on the way home to pick up a box of tissues. And it's because of this that we make these mistakes and fall into this deep never-ending hole of debt. I think this article is important and remembering this is important because these are the things that can make or break us. This is the time that we start to worry the most about our future and what's going to happen and this article and like handing us money on a silver platter. We decide our own future and we can either have a bright one where we avoid these mistakes of a not so bright one where we make the same mistakes that everyone else has made.
ReplyDeleteNS pd. 1
I think that overall this article is saying that you have to discipline yourself. No one else is going to make you start saving or will tell you not to buy that flat screen TV with a credit card even though you cant afford it. Even though we are young we need to be thinking about future financial goals. Do we want an expensive dress now or a comfortable retirement later?- SR Period 1
ReplyDeleteIt seems the key to being financially well off is to get into good habits early. Train yourself to do the right thing financially from the start and then you will not have to worry as much. By starting young, you are way ahead of everyone else who decided to wait. Things that may seem like a good idea in the short term may turn out to be a bad choice. That is why it is important to look look at both the short term and long term positives and negatives before making a decision on anything. Having a thirty year house mortgage, for example, is something that looks much better in the short term than it is in the long term. Although you pay a lot more at once with a fifteen year house mortgage, the amount you pay in interest will ultimately be much less than the total interest paid in a thirty year mortgage. The goal is flexibility and the key is to start making finically smart decisions from a young age. ze pd.1 economics
ReplyDelete