Money Management In Today's Society
Many people, young and old alike have no clue what money management is. They are lacking in the knowledge desperately needed in today's age on this subject. What are the reasons for not knowing this important information? Some could blame it on either the parents or the school systems. Yes, it could be the school systems not teaching basic money management skills in a fundamental class like math, but maybe the school systems don't have the funding for the programs. Yes, maybe the parents did have some influence on not teaching their children about money management, but it could have been that the parents themselves do not know the skills. No matter who is to blame, this has become a severe problem in our country today, which affects everyone. One of the main reasons for debt in this country is lack of or poor money management skills; some of these are: balancing a checkbook, maintaining a good credit score, or managing credit.In today's society a person almost cannot get by without having a checking account, even if it is just to cash a weekly paycheck. Banks and their services have become a part of everyday life. With a checking account comes the responsibility of being able to balance i
For example, the person that rear-ended you may not have been paying attention because of money woes. To "live within your means" a person must not spend more than they make. Managing credit, in any form is a balancing act, being informed is the best way to handle it. Statistics show that 43 percent of the public don't regularly balance their checkbooks (McCune NA) and not regularly balancing a checkbook can lead to huge fees, the average being $25. We mostly think of credit as charge or credit cards, mortgages, and car loans. 00 and that doesn't include court costs if applicable. 00 check, the bank in turn charges a non-sufficient funds fee of $25. Although it can sometimes seem overwhelming, learning money management skills can save a person a lot of trouble throughout their life. Currently 43% of American families spend more than they earn each year (Khan Page NA). Then it becomes a problem for all people. Lack of money management proficiency can affect productivity levels at work; in a survey conducted employees stressed about finances spent 13% of their workday handling their personal money issues on the time clock (Atkinson NA). The only solution for this problem is for us as a nation to become more aware of how to manage money. That accident could cause you problems too, like raising your insurance premium or leaving you stranded without a vehicle until your damaged one is fixed. Today the penalties for writing a bad check are not just the bank fees, most merchants charge a returned check charge on average of $20 and depending on the state laws, a person could be charged with fraud and have to go to court. Managing a person's credit well not only means maintaining a good credit score, but also not having too much or too little credit.
Common topics in this essay:
Bruce NA,
Today's Society,
Lehigh University,
NA Trends,
Atkinson NA,
Merriam-Webster Maintaining,
Page NA,
McCune NA,
money management,
money management skills,
management skills,
person's credit,
credit score,
school systems,
credit bureaus,
credit cards,
maintaining credit score,
maintaining credit,
checking account,
returned check,
Khan Page,
mortgages car loans,
credit cards mortgages,
returned check fee,
|
Acceptance Essays
