Importance of Money

"We do not break the bad habit of debt through earning more money, but rather we break any habit by replacing it with a better one."

What do you think this means? 

          This quote is addressing the psychology behind money management. It is saying that no matter how much money you earn, you will still be in debt if you do not understand how to manage the money you earn. I like this quote because it makes me question not only my money choices, but also America's idea of money management. I am not extensively knowledgable on our country's financial state, but I do know that we owe a lot of money to a lot of people/countries. America represents freedom, especially the freedom to choose how to earn and what to do with your money. Two years ago, I was friends with a student fom Hong Kong who was fascinated by America's way of spending. She said that in China, you work and save your entire life in order to spend and enjoy when you get old, whereas in America you spend and enjoy now, and pay later. If she was to study the relationship the US has with money a little further, I think that student from Hong Kong would understand the US differently. With a "buy now and pay later" mindset, the debt of individual people and the US will only grow more and more, and the consequences will eventually catch up to the spend-and-pay-later-ers. Making more money will not fix any debt problem. Learning how to manage money will. 

Are you worried about getting into financial trouble as you get older?

          I know that at some point I may have financial trouble, but I will get through. Unlike many people my age, I watch what I spend and earn and I enjoy working the money system. I make surenever go below a certain amount in my banking account, to put a percentage of my earnings into savings, and to keep only a small amount in my wallet for a random emergency. In times where I have extra money, I invest it in high school ways, such as baking cookies and selling them at school.  This is only a high schooler's budget, so I expect my flow of money to be more complicated when I get older. I know that I may not always be at the top of my game on the income-outcome ratio, so that is why back ups are important. "If it weren't for the last moment, nothing would get done around here" is a quote I saw on an office desk once, and I believe that to true, especially in financial situations. Sometimes the stress of the last moment, or even when your time is up, is what it takes for someone to learn how to use their money wisely. If they truely choose to, a person can understand that money is a game that you can win or lose. With a positive vision in mind and strong effort to support that vision, I believe I will always be smart with my choices and will work my way through any obstacle. 

Does money factor in to your culminating project/or career path you have chosen? If so, how? Should money be a major consideration in choosing your life’s path?

          I would be silly to say that money doesn't factor into my career path, or anyone's career path for that matter. I'm going to need money to pay for gas and business-professional clothes for this mentorship. I'm going to need a heap of money in order to go to college and pay for food and housing and live on my own. On the flip side, money is the driving force to even pursue a career. If we already had everything we wanted, we would have no need to work a day in our lives. However, since that is not the case, I'm going to need money in order to make money. That's what my aunt says, and she built a multi-million dollar business from nothing. Well, near nothing ($360.82 to be exact, and part of it was borrowed from a friend). To some people, money may not make the world go 'round, but it sure does help. I believe that money should be a considered in any choice, but it should not be the deciding factor. If someone loves something enough, they will find a way. If they don't, they will find an excuse. I aspire to follow in the footsteps of my aunt by becoming my own boss and someday I will make enough money where I can make choices based on what I want, not what my bank account tells me. Money, whether being earned or spent, should always be considered but it should never limit anyone's choices. If there's a will, there's away.