Financial Freedom by Halle

Financial Freedom by Halle - August 2017 Scholarship Essay

College is expensive. It seems as though almost every student will be drowning in debt by the time they graduate. This debt accumulates from college merchandise to yearly tuition. I have asked some adults if they have paid off their college debt. The answer was almost always "no." The expense from them attending college was still sitting on their shoulders after graduating. That both surprised and scared me. I knew about car payments and house payments, but I did not know it could take years to pay off college debt. It was then I heard about Dave Ramsey, a businessman.

Dave Ramsey claims that it is possible to graduate college debt-free by managing your money well. After reading some his books and listening to some of his podcasts, I learned it was true. With good money-management skills, you can in fact graduate college tuition-free. Ramsey's debt-free plan applies not only to college debts, but other debts as well. A couple of years ago, my parents started following Ramsey's debt-free plan. They began in debt, like most everyone else. However, by following Ramsey's steps to becoming debt-free, they quickly succeeded. As of now, my parents have been debt-free for about two years.

Becoming debt free is, almost literally, a weight off your shoulders. You are left more freedom to both complete needed payments and buy wanted things, all within the budget you create. Following my own budget allows me to save for college, buy clothes, and go out with friends. Staying smart with my money will allow me to have the financial flexibility after college to buy an apartment, a car, and any household needs without going into deep debt. How I have learned to manage my money has taught me financial responsibility, which I believe everyone should have. Experiencing this financial freedom for myself has inspired me to tell others that it is possible.

Learning how to manage your money is a responsibility I think everyone should learn in college, and perhaps even high school. To some people, there is a point in college where it does not matter how deep into debt they bury themselves in. I want to be there as a reminder that having as little debt as possible, and even none, will be worth it in the end. Most importantly, I want to be there as a guide to help students through their financial problems. That is why if i was a college professor, I would teach a money management class.