March 31st, 2020

Learn about finances now.

“The price of greatness is responsibility.” -Winston Churchill
Debt has risen to become a serious problem in America, especially for those that choose to better themselves with a college education. CNN reports that in 2011 the average loan debt that college seniors accumulated was around $25,250. As the economy declines while debt and unemployment increase, everyone must strive to overcome the statistics. When striving to achieve an independent life the most crippling obstacle is stacks of bills.  One thing that will better the problem is education.  Learning about finances in school is something that all students should do. Knowledge of what they are facing in the world will help them be better prepared and increase their chances of being responsible. There are many things that a college student can do to improve their financial circumstances. Studying and focusing on academics is a must for college students in order get a stable job. The glamorous idea of a piece of plastic that pays for everything is damaging to a young person’s finances. Planning for emergencies and allowing for some leeway is also a good idea. Living within your means is a good way for all to live. Many college students also try to maintain the life their parents had even though they are younger and with a smaller salary. With all the many ways for college students to save the most important can be seen as investing. Investing is the most beneficial and helpful. The advisor Dave Ramsey has a chart that shows how investing even with small amounts helps. All students should invest while they are in college so they can improve their life. Everyone should be in possession of a savings account that they regularly put money into.  Every salary should have a percentage that goes into savings.

Shawna Harris, 2012 graduate of Davidson Academy

Category: College Bound