Good Stewardship Today Means a Brighter Future
Good stewardship over the limited resources that have been entrusted to us today can have a long-lasting impact. Not only is it important for someone to be able to recognize when they have poor financial habits, it is even more important to educate someone to achieve financial freedom. It’s easy to follow our inclination toward acquiring “stuff.” However, when we are obsessed with stuff, we miss what’s really important and end up struggling financially and emotionally. Financial bondage is a serious problem that is easy to get into; getting out is much harder.
First, children and young adults should be taught at a young age to manage their finances. I believe young adults (including Dalat students)
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In America, college costs have been growing at a rate faster than inflation for over a decade. The resulting student loan debt, most of which belongs to young people aged 22-40, is causing a lot of trouble for the whole economy. The average college student is graduating with $32,000 in student loan debt . Not only do they have to pay this back with interest, it affects them in other areas of their lives. Debt forces students to postpone life in several key areas including buying a house, getting married and saving for retirement. On top of all this, college degrees are more common than ever; record numbers of Americans have a college degree and its impact on future earnings is not what it used to be. So, college students are paying more for a degree that will earn them less than the same degree did a generation ago. And we want to go into debt getting this degree? This is absurd. For all these reasons, students today need to be taught the importance of avoiding college debt.
In conclusion, the best way to avoid the never-ending stress of financial bondage is to get educated on financial matters while you are young, start saving today, and avoid college debt. Practicing these three principles will go a long way towards financial security. It has been said that 80% of financial success is behavior – spending habits, attitudes toward saving, debt avoidance, etc. – and only 20% is head knowledge. Small changes we