This article was very eye opening. It really put our society and the world that we live in, into perspective. I found it really interesting how some companies hide everything in the fine print, for example, example #5 illustrated this ideology and practice. “You buy big-ticket items through interest-free, deferred-payment offers because you think you’ll be able to afford it next year. Whether these deals are of the "Buy now and pay no interest until next year" or "No monthly payments for six months" variety for a furniture set or new washer and dryer, they sound enticing but can be deadly. These retailer deals involve no monthly payments for a certain period of time (usually a year) or no interest on payments made during the promotional period. But if you fail to pay for your item in full by the set deadline, you’ll get hit with sky-high interest charges.” Although some deals may seem great in the beginning, it will end up horrible in the end if you miss or are late on a payment. I think that people should definitely be more cautious and aware of their budget and what they’re spending their money on.
Honesty, I'm not surprised about this article because everyone has a tendency to buy things that they don't need. It all comes down to want versus need. And even if people do only get thigns that they only need everyone has a desire to get other things just because. Personally, i know that i have troubles with saving money but, not everyone is like that i know some people tha love saving. it all comes down to the person you are and if you have the flexibilty to keep making money to buy good things that you want. AM period 6
The measure of financial difficulties for the middle class visibly increased recently, something I was not surprised to hear. A lot of what I have learned this year regards being smart about financial savings for the future and reading this article, it seems that not many people understand this idea. I think the reason that most people live above their means, or spend more than they can afford to, is because they do not feel the burden of their futures. For example, saving money in a cash reserve account is very important towards creating a stable source of money for the future yet almost half of Americans do not do it because they do not understand the impact of their actions on their futures. The most significant aspect I took from this article was that everyone should begin to save at least 10 % of their incomes at the age of 25. With some forceful education on finance, the country can easily decrease the level of financial difficulties in the future. (Ariana S)
I find it very interesting how most of these signs can apply to most Americans, because a lot of Americans in today's age are not very financially literate and do not save their money for later time.
It’s scary to think about how soon we are going to have to deal with troubles like these. One aspect that I think is crazy is the first point the article made about how many people only have retirement savings. I feel like having this “rainy day fund, emergency find or cash fund” is a critical aspect of being financially stable and safe. There are so many horrible things that could happen and that could jeopardize your financial stability. Natural disasters, illness, poor decisions and many other random factors can contribute to your economic fall if you don’t expect it and you don’t have any savings. Number five caught my eye as well because I can understand this way of thinking that you can buy “big-ticket items” through deferred payment offers but I also see how it is flawed. Who really knows what financial state you could be in in a year from now? Sure, you might be able to afford it then, but what if you can’t? There’s no guarantee that you would be able to if you can’t afford it at this time, is it really worth the risk?
I feel as If many people do not understand the concept of paying yourself first. Usually thoughts like "I can't afford it right now" linger across the minds of millions of Americans. People think for the present and overlook the future of their decision to buy that expensive flat screen tv today. Savings has just become a thing that has turned into an optional/not necessary norm to the public, which has catastrophic consequences in the long run. We really need to prioritize where and when our money will pay off for the future. One should never borrow money if one cannot pay it back. -paridhi vayda
This article made it very clear that Americans are a spending society. The author, Lisa Scherzer, listed 8 points to know that you are spending more than you are accumulating. There were a few points that made a lot of sense but seem very difficult to live by. The first point was that you should have enough money saved where you are able to survive for the next 6 months which is very challenging because 40% of adults save less than prior years. The second point is to save 15% of your income which is also so hard because we live in such a spending society. Point 8 was something that I think a lot of us can relate to but don't change because of our need for material things. We rationalize why we should get something even when we can't afford it like a new T.V. because our old one doesn't come in HD or a vacation because we deserve a break. I know I do this a lot but when I want to buy a new pair of shoes or go out with my friends. - Lauren T. per 6
I thought this article was very important and informative. An important part of the article for me was that you should save 10% of your pay. I do not think many people do this, but it is a simple way to save money once you’re informed. To me it was very clear that if you buy big items through deferred payment offers and use other credit cards to pay off another credit card’s balance you are over spending. Sometimes people pay overdraft fees because they do not realize how much money is in their account, they need to manage their money better and this can be solved. I think it is hard for individuals not to live beyond their needs because everyone always wants a better lifestyle with a higher income. People just need to be educated on how important it is to save and invest their money.
I found this article very interesting. There seems to be a general trend in America to always have the latest item, encouraging living beyond one's means. After reading this article, I see the importance of saving early and having extra money in case of emergencies. Saving early would be a safety net to the potential of losing my job or needing to pay off a large expense. Otherwise, I could be stuck in a pickle with no extra money to count on to help me. Avital B.
I feel that this article does an excellent job of explaining and magnifying the ways in which people get behind on their bills and how in todays economic society where financial illiteracy is very common, people spend more money and borrow more money than they can afford. I love how the article separates each category and each sign and uses concise explanations of these crucial ways of telling if you are are living beyond your means. Some of which we talked about in class and which we used in our budget projects such as surviving without you jobs income for at least six months, saving at least 10% of your income, and making sure your mortgage payment is more than one weeks salary. In all this article was very informative and truly helpful and I know that I will need many of these tips to ensure a bright financial future.
This article will be very useful to me as I get older because it is important and absolutely necessary to be aware of my financial stability and state. When reading this article, I began to evaluate my parents and have concurred that they are very stable financially. My parents are very careful and meticulous with their buying. Despite the fact that I get aggravated when I want to buy something but they won't let me, I realized that it is because of this meticulous spending that my parents are financially stable. Before buying something, my parents never think or say, “I know I shouldn't, but…” because they will put the item down right away and move on. I, on the other hand, get very upset and wish I had bought it. I plan on getting rid of this habit before it hurts me in the future.
This article shows how people rather spend money now to get what they want than save it. We live in a world where things are constantly being thrown at us, advertisements, sales, products that we fall into. Everything is fast pace so to wait for something is hard. If we step away we can see the big picture we can see that saving our money will benefit us more than that instant thing we would buy. VG Prd. 6
This article made some very good points like it is necessary to start saving for retirement right from the start of your career. Now that we are ready to start college, there is a possibility that we might have loans from college. So the wonderful salary that we earn will have to pay college loans from the past and retirement from the future- that's really depressing. I guess the ready availability of credit through credit cards has ruined many family budgets. Once you owe a balance on a credit card, it keeps on growing quickly and it is very easy for it to become unmanageable. I think that the habit of only charging what you can pay for at the end of the month is the most financially responsible behavior. Here on Long Island, we also have the added pressure of high housing costs.It is definitely a wake-up call and maybe we should not be so anxious to be out on our own. There are many material things like a car or vacation that I know we deserve but I guess they might have to wait until we can afford them. - MB period6
For me, it’s definitely not a hard task to spend more than I bring in because I am horrible at stopping myself from buying more clothes when it comes to shopping. Therefore, these are definitely some important signs that I should keep in mind just in case I ever live above my means. I definitely think having cash reserve account is important because it could come in handy in emergency situations like a major medical expense or home repair. Although setting money aside is not something people willing do, it’s certainly a good tactic to make sure you have a Plan B if you ever lose your source of income like your job. Furthermore, after reading this article, I’m afraid to get a credit card because I feel like the balance would grow each month, which is an obvious red flag. I’ll end up using one credit card to pay another credit card’s balance, which is another red flag. Once I start working, I’ll definitely save at least 10% of my income for retirement.
This article was somewhat frightening as it made me think about all the financial responsibilities I’ll have when I grow older, which is actually not that far away. It just seems like there is so much to manage, from everyday bills, like phone bills and electricity bills, to mortgages and retirement funds. Let’s just say it’s something I’d rather not think about right now, but it’s definitely something I should keep in mind. I can easily say that if I were to leave this class knowing one thing and one thing only, it would definitely be to start saving for retirement early. Time is crucial and so it is important to start early. It’s something I definitely plan on doing. I know that it is easier said than done as I know it will be quite tempting to withdraw money form my savings for a vacation or something else down the road, but I understand the importance of tucking away a nice sized portion of mu future salary away in a cash reserve account. Aside from this, I will keep these overspending red flags in mind too, but it certainly will be difficult to get past the last one as most of my purchases often begin with “I know I shouldn’t, but…”
I will definitely take all of these into considerations when I grow up. This article is actually something that I found really helpful. I don't know much about personal economics, and when I don't know a lot about something, I like it when something gives he tell-tale warning signs to look out for. Ideally, I would prefer to understand the process myself and base my actions on my own knowledge, but if that doesn't happen, this is the next best thing. I think it's really interesting because a lot of these things, such as the buy it now and pay no interest until later, your mortgage being over 40% of your salary, not being able to survive without a job for 6 months, and saving less than 10% of your pay are all things that a lot of people do that they don't even realize. They think it's fine to do, and possibly smarter, because everyone does it, similar to taking a 30 year mortgage on a house. But I like how this article refuted this misconception. I will definitely take this into consideration when I'm thrust into the world of personal economics. B.T 8th period
One of the most influential things I've learned in this class is to be more aware of my money. I don't want to be trapped in a cycle of debt and I want to have the freedom to do what I want and to have that freedom means being responsible with my money. As I get closer to college, I can see the possible debt in my future. I don't like that but I also can understand that as long as I am managing my money well, I don't need to be so worried about paying it off. I have saved the majority of my money from my job so that when I go to college I can have my own safety net incase something goes wrong and to not graduate college with any credit card debt. Now that I have my own money, the allure of buying things is there. I try to live with my means by not buying every video game I see and be more frugal when I go out with friends. I think about living within my means a lot because I don't want to wake up in 10 years and realize I have been sucked into the same financial problems that most Americans deal with.
When I think about living beyond my means, I feel that’s my family is very on top of saving more and spending less on unnecessary items. But I’m lucky that my parents have been educating me in the healthy habits of money. I find because society is always pushed to have more and the next best thing a lot of American’s are living beyond the means. especially when most people are saying they bought it because they felt they deserve it. American’s don’t understand that you can live without a new phone or a really expensive car. In order to “Keep up with the Jones’” it requires people to spend more than save. If American’s saved more on a daily bases they would find that in the end they have the money and time to take that vacation. But it’s hard when in a society we buy on impulse due to instant gratification. Along with that feeling of having it all I blame credit card debt and credit card companies. They are not looking out for the buyer but to make a profit. We have put to must trust in credit cards saying that we can pay it back with time and are blinded that it just digs a deeper hole into our pockets. Once society realizes that less is more, metaphorically and literally, then people would be able to live a more relaxed life because they have that back up savings account. The most crucial thing to have if you’re going to be smart with your money is patience that saving your money is better than buying on impulse.
This was a really interesting article to read, because it gave me some ideas as to what’s to come in the future. I began reading and all these concepts seemed so far away and beyond what I’m thinking about at my age. But, doing the Get a Life Project taught me a lot about budgeting money and this article gave the harsh reality of how to know when you are indeed getting off track of your budget. And even though these concepts seem far away I can understand them and relate them to my own life. I can totally see the rationalizing of buying a product even though it is beyond your means, but I truly see how tight money can be and how hard the decision will be to stay on track with money and not dig myself into a hole. Tara O'Shea -period 6
I thought this article was really eye-opening about all of the responsibilities that I will have once I start to earn money. There are four key rules I learned from this article in order to live within my means. Firstly, I must make sure to save more than 10% of my income, rather than spend all of it as soon as I earn it. Secondly, I must make sure that my credit card balance is not stagnant. Thirdly, I have to make sure to not use one credit card to pay another credit card's balance -- if I have gotten to this point, I am not living within my means. Finally, I should not spend when I know I don't have the money. I think keeping these lessons in the back of my mind will help me to manage my money and make sure that I don't fall into debt. I'm a little scared of the consequences that will result if I don't follow these rules, but hopefully it will never get to that point!
This really opened my eyes to what is coming. As a high school senior who is going on to college and off into the real world, it is important that I understand what to prepare for in terms of economics.
By viewing the mistakes that many people may make with handling their money such as not saving at least 10% of their income causing them to be living on more money than they should be living on, I can learn and ensure that I will not make this same mistake of living above my means in the future when i earn big $$. - Karan L. Period 8
I do not really understand why people are living such a lavish lifestyle even though they cannot afford it. The benefits of buying something so expensive is not worth the burden in the long run.
It's really interesting, yet kind of scary to hear about people not being able to afford their lifestyle though they aren't aware of it. Obviously, I feel like we don't really understand this yet because most of us don't have to pay the bills or anything, but I consider myself more of a saver than a spender (I usually spend a little more money all at once but still not at the same rate that others tend to consume), and I hope that will continue. I feel like it'll be different once we earn our own money and have bills to pay, but I hope that I won't ever fall into this cycle of buying things I can't afford. At the same time, I can see it in my own family, and I'm pretty sure most of us are living beyond our means, and that's pretty scary when you think about it. I hope that by learning about this now, however, many of us can be smarter about our spending and saving in the future.
This article was very eye opening. It really put our society and the world that we live in, into perspective. I found it really interesting how some companies hide everything in the fine print, for example, example #5 illustrated this ideology and practice. “You buy big-ticket items through interest-free, deferred-payment offers because you think you’ll be able to afford it next year.
ReplyDeleteWhether these deals are of the "Buy now and pay no interest until next year" or "No monthly payments for six months" variety for a furniture set or new washer and dryer, they sound enticing but can be deadly. These retailer deals involve no monthly payments for a certain period of time (usually a year) or no interest on payments made during the promotional period. But if you fail to pay for your item in full by the set deadline, you’ll get hit with sky-high interest charges.” Although some deals may seem great in the beginning, it will end up horrible in the end if you miss or are late on a payment. I think that people should definitely be more cautious and aware of their budget and what they’re spending their money on.
Melinda R.
Period 6
Honesty, I'm not surprised about this article because everyone has a tendency to buy things that they don't need. It all comes down to want versus need. And even if people do only get thigns that they only need everyone has a desire to get other things just because. Personally, i know that i have troubles with saving money but, not everyone is like that i know some people tha love saving. it all comes down to the person you are and if you have the flexibilty to keep making money to buy good things that you want.
ReplyDeleteAM period 6
The measure of financial difficulties for the middle class visibly increased recently, something I was not surprised to hear. A lot of what I have learned this year regards being smart about financial savings for the future and reading this article, it seems that not many people understand this idea. I think the reason that most people live above their means, or spend more than they can afford to, is because they do not feel the burden of their futures. For example, saving money in a cash reserve account is very important towards creating a stable source of money for the future yet almost half of Americans do not do it because they do not understand the impact of their actions on their futures. The most significant aspect I took from this article was that everyone should begin to save at least 10 % of their incomes at the age of 25. With some forceful education on finance, the country can easily decrease the level of financial difficulties in the future. (Ariana S)
ReplyDeleteI find it very interesting how most of these signs can apply to most Americans, because a lot of Americans in today's age are not very financially literate and do not save their money for later time.
ReplyDeleteIt’s scary to think about how soon we are going to have to deal with troubles like these. One aspect that I think is crazy is the first point the article made about how many people only have retirement savings. I feel like having this “rainy day fund, emergency find or cash fund” is a critical aspect of being financially stable and safe. There are so many horrible things that could happen and that could jeopardize your financial stability. Natural disasters, illness, poor decisions and many other random factors can contribute to your economic fall if you don’t expect it and you don’t have any savings. Number five caught my eye as well because I can understand this way of thinking that you can buy “big-ticket items” through deferred payment offers but I also see how it is flawed. Who really knows what financial state you could be in in a year from now? Sure, you might be able to afford it then, but what if you can’t? There’s no guarantee that you would be able to if you can’t afford it at this time, is it really worth the risk?
ReplyDeleteIsabel pd 6
I feel as If many people do not understand the concept of paying yourself first. Usually thoughts like "I can't afford it right now" linger across the minds of millions of Americans. People think for the present and overlook the future of their decision to buy that expensive flat screen tv today. Savings has just become a thing that has turned into an optional/not necessary norm to the public, which has catastrophic consequences in the long run. We really need to prioritize where and when our money will pay off for the future. One should never borrow money if one cannot pay it back. -paridhi vayda
ReplyDeleteThis article made it very clear that Americans are a spending society. The author, Lisa Scherzer, listed 8 points to know that you are spending more than you are accumulating. There were a few points that made a lot of sense but seem very difficult to live by. The first point was that you should have enough money saved where you are able to survive for the next 6 months which is very challenging because 40% of adults save less than prior years. The second point is to save 15% of your income which is also so hard because we live in such a spending society. Point 8 was something that I think a lot of us can relate to but don't change because of our need for material things. We rationalize why we should get something even when we can't afford it like a new T.V. because our old one doesn't come in HD or a vacation because we deserve a break. I know I do this a lot but when I want to buy a new pair of shoes or go out with my friends. - Lauren T. per 6
ReplyDeleteI thought this article was very important and informative. An important part of the article for me was that you should save 10% of your pay. I do not think many people do this, but it is a simple way to save money once you’re informed. To me it was very clear that if you buy big items through deferred payment offers and use other credit cards to pay off another credit card’s balance you are over spending. Sometimes people pay overdraft fees because they do not realize how much money is in their account, they need to manage their money better and this can be solved. I think it is hard for individuals not to live beyond their needs because everyone always wants a better lifestyle with a higher income. People just need to be educated on how important it is to save and invest their money.
ReplyDeleteLauren S. Period 6
I found this article very interesting. There seems to be a general trend in America to always have the latest item, encouraging living beyond one's means. After reading this article, I see the importance of saving early and having extra money in case of emergencies. Saving early would be a safety net to the potential of losing my job or needing to pay off a large expense. Otherwise, I could be stuck in a pickle with no extra money to count on to help me.
ReplyDeleteAvital B.
Stephen Fellus Pd.6
ReplyDeleteI feel that this article does an excellent job of explaining and magnifying the ways in which people get behind on their bills and how in todays economic society where financial illiteracy is very common, people spend more money and borrow more money than they can afford. I love how the article separates each category and each sign and uses concise explanations of these crucial ways of telling if you are are living beyond your means. Some of which we talked about in class and which we used in our budget projects such as surviving without you jobs income for at least six months, saving at least 10% of your income, and making sure your mortgage payment is more than one weeks salary. In all this article was very informative and truly helpful and I know that I will need many of these tips to ensure a bright financial future.
This article will be very useful to me as I get older because it is important and absolutely necessary to be aware of my financial stability and state. When reading this article, I began to evaluate my parents and have concurred that they are very stable financially. My parents are very careful and meticulous with their buying. Despite the fact that I get aggravated when I want to buy something but they won't let me, I realized that it is because of this meticulous spending that my parents are financially stable. Before buying something, my parents never think or say, “I know I shouldn't, but…” because they will put the item down right away and move on. I, on the other hand, get very upset and wish I had bought it. I plan on getting rid of this habit before it hurts me in the future.
ReplyDelete- Lydia G Period 6
This article shows how people rather spend money now to get what they want than save it. We live in a world where things are constantly being thrown at us, advertisements, sales, products that we fall into. Everything is fast pace so to wait for something is hard. If we step away we can see the big picture we can see that saving our money will benefit us more than that instant thing we would buy.
ReplyDeleteVG Prd. 6
This article made some very good points like it is necessary to start saving for retirement right from the start of your career. Now that we are ready to start college, there is a possibility that we might have loans from college. So the wonderful salary that we earn will have to pay college loans from the past and retirement from the future- that's really depressing. I guess the ready availability of credit through credit cards has ruined many family budgets. Once you owe a balance on a credit card, it keeps on growing quickly and it is very easy for it to become unmanageable. I think that the habit of only charging what you can pay for at the end of the month is the most financially responsible behavior. Here on Long Island, we also have the added pressure of high housing costs.It is definitely a wake-up call and maybe we should not be so anxious to be out on our own. There are many material things like a car or vacation that I know we deserve but I guess they might have to wait until we can afford them. - MB period6
ReplyDeleteR.L. Period 8
ReplyDeleteFor me, it’s definitely not a hard task to spend more than I bring in because I am horrible at stopping myself from buying more clothes when it comes to shopping. Therefore, these are definitely some important signs that I should keep in mind just in case I ever live above my means. I definitely think having cash reserve account is important because it could come in handy in emergency situations like a major medical expense or home repair. Although setting money aside is not something people willing do, it’s certainly a good tactic to make sure you have a Plan B if you ever lose your source of income like your job. Furthermore, after reading this article, I’m afraid to get a credit card because I feel like the balance would grow each month, which is an obvious red flag. I’ll end up using one credit card to pay another credit card’s balance, which is another red flag. Once I start working, I’ll definitely save at least 10% of my income for retirement.
This article was somewhat frightening as it made me think about all the financial responsibilities I’ll have when I grow older, which is actually not that far away. It just seems like there is so much to manage, from everyday bills, like phone bills and electricity bills, to mortgages and retirement funds. Let’s just say it’s something I’d rather not think about right now, but it’s definitely something I should keep in mind. I can easily say that if I were to leave this class knowing one thing and one thing only, it would definitely be to start saving for retirement early. Time is crucial and so it is important to start early. It’s something I definitely plan on doing. I know that it is easier said than done as I know it will be quite tempting to withdraw money form my savings for a vacation or something else down the road, but I understand the importance of tucking away a nice sized portion of mu future salary away in a cash reserve account. Aside from this, I will keep these overspending red flags in mind too, but it certainly will be difficult to get past the last one as most of my purchases often begin with “I know I shouldn’t, but…”
ReplyDeleteI will definitely take all of these into considerations when I grow up. This article is actually something that I found really helpful. I don't know much about personal economics, and when I don't know a lot about something, I like it when something gives he tell-tale warning signs to look out for. Ideally, I would prefer to understand the process myself and base my actions on my own knowledge, but if that doesn't happen, this is the next best thing. I think it's really interesting because a lot of these things, such as the buy it now and pay no interest until later, your mortgage being over 40% of your salary, not being able to survive without a job for 6 months, and saving less than 10% of your pay are all things that a lot of people do that they don't even realize. They think it's fine to do, and possibly smarter, because everyone does it, similar to taking a 30 year mortgage on a house. But I like how this article refuted this misconception. I will definitely take this into consideration when I'm thrust into the world of personal economics. B.T 8th period
ReplyDeleteOne of the most influential things I've learned in this class is to be more aware of my money. I don't want to be trapped in a cycle of debt and I want to have the freedom to do what I want and to have that freedom means being responsible with my money. As I get closer to college, I can see the possible debt in my future. I don't like that but I also can understand that as long as I am managing my money well, I don't need to be so worried about paying it off. I have saved the majority of my money from my job so that when I go to college I can have my own safety net incase something goes wrong and to not graduate college with any credit card debt. Now that I have my own money, the allure of buying things is there. I try to live with my means by not buying every video game I see and be more frugal when I go out with friends. I think about living within my means a lot because I don't want to wake up in 10 years and realize I have been sucked into the same financial problems that most Americans deal with.
ReplyDeleteWhen I think about living beyond my means, I feel that’s my family is very on top of saving more and spending less on unnecessary items. But I’m lucky that my parents have been educating me in the healthy habits of money. I find because society is always pushed to have more and the next best thing a lot of American’s are living beyond the means. especially when most people are saying they bought it because they felt they deserve it. American’s don’t understand that you can live without a new phone or a really expensive car. In order to “Keep up with the Jones’” it requires people to spend more than save. If American’s saved more on a daily bases they would find that in the end they have the money and time to take that vacation. But it’s hard when in a society we buy on impulse due to instant gratification. Along with that feeling of having it all I blame credit card debt and credit card companies. They are not looking out for the buyer but to make a profit. We have put to must trust in credit cards saying that we can pay it back with time and are blinded that it just digs a deeper hole into our pockets. Once society realizes that less is more, metaphorically and literally, then people would be able to live a more relaxed life because they have that back up savings account. The most crucial thing to have if you’re going to be smart with your money is patience that saving your money is better than buying on impulse.
ReplyDeleteSRB Period 6
This was a really interesting article to read, because it gave me some ideas as to what’s to come in the future. I began reading and all these concepts seemed so far away and beyond what I’m thinking about at my age. But, doing the Get a Life Project taught me a lot about budgeting money and this article gave the harsh reality of how to know when you are indeed getting off track of your budget. And even though these concepts seem far away I can understand them and relate them to my own life. I can totally see the rationalizing of buying a product even though it is beyond your means, but I truly see how tight money can be and how hard the decision will be to stay on track with money and not dig myself into a hole.
ReplyDeleteTara O'Shea -period 6
ReplyDeleteI thought this article was really eye-opening about all of the responsibilities that I will have once I start to earn money. There are four key rules I learned from this article in order to live within my means. Firstly, I must make sure to save more than 10% of my income, rather than spend all of it as soon as I earn it. Secondly, I must make sure that my credit card balance is not stagnant. Thirdly, I have to make sure to not use one credit card to pay another credit card's balance -- if I have gotten to this point, I am not living within my means. Finally, I should not spend when I know I don't have the money. I think keeping these lessons in the back of my mind will help me to manage my money and make sure that I don't fall into debt. I'm a little scared of the consequences that will result if I don't follow these rules, but hopefully it will never get to that point!
Shweta Lodha Pd 9
This really opened my eyes to what is coming. As a high school senior who is going on to college and off into the real world, it is important that I understand what to prepare for in terms of economics.
ReplyDeleteKK period 8
By viewing the mistakes that many people may make with handling their money such as not saving at least 10% of their income causing them to be living on more money than they should be living on, I can learn and ensure that I will not make this same mistake of living above my means in the future when i earn big $$.
ReplyDelete- Karan L. Period 8
I do not really understand why people are living such a lavish lifestyle even though they cannot afford it. The benefits of buying something so expensive is not worth the burden in the long run.
ReplyDeleteIt's really interesting, yet kind of scary to hear about people not being able to afford their lifestyle though they aren't aware of it. Obviously, I feel like we don't really understand this yet because most of us don't have to pay the bills or anything, but I consider myself more of a saver than a spender (I usually spend a little more money all at once but still not at the same rate that others tend to consume), and I hope that will continue. I feel like it'll be different once we earn our own money and have bills to pay, but I hope that I won't ever fall into this cycle of buying things I can't afford. At the same time, I can see it in my own family, and I'm pretty sure most of us are living beyond our means, and that's pretty scary when you think about it. I hope that by learning about this now, however, many of us can be smarter about our spending and saving in the future.
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