Finance 101 by Breanna

Finance 101 by Breanna - January 2023 Scholarship Essay

$29.00 fee imposed to my account. That is when I realized I needed to learn more about keeping track of my finances. While my parents had told me to make sure I kept track f my money, I didn't know about keeping a budget.

I feel there should be a required class in college which goes over setting up a budget and how to properly keep track of your finances. This class should cover how to properly budget your expenses compared to your income. It should talk about credit cards and debt. It should talk about assets and saving for the future. There is nothing worse then having to pay a $29 fee in addition to the bills you have. They can teach you about 401k's, IRA's, Roth IRA's. You can learn about investing in the stock market, real estate and other investments.

The class should teach the students about interest rates and the difference between simple and compound interest. This instruction will teach you how compounding interest can double invested money over time.

You will learn the different types of investments in the stock market. Mutual funds, dividend stocks are just a few of the different investments in the stock market.

Flipping houses, owning rental properties are different ways to use real estate to make money.