Throughout this course, I have learned so much information about money, saving, loans, what to do and what not to do, and many more things that I will need. Throughout the games we played, foundations we watched, discussions, lectures, and more, I have obtained a lot of information to keep from going in debt. The tools we learned throughout this semester are very important in order to know how to win with money.
One of the most important things I learned is, debt is evil. This is something to go by when looking to purchase anything you want or need. The main way to stay out of debt is to pay with cash. If you cannot pay for it with cash, in full, you should not purchase the item until you can afford it. Credit cards are a good
…show more content…
When you are young, do chores and responsibilities to learn the value of money. When you get old enough, apply for jobs. Having this responsibility teaches you about money and gives you the opportunity to begin saving at a young age to purchase a home, car, or pay for an education when you get older. Something I found interesting that Dave Ramsey did with his children was, he had them save their money for their first car and he matched what they had. His kids learned from when they were small the importance of paying with cash and saving to pay for those …show more content…
Learning to budget your money is the best way to avoid debt. There are many different types of budgeting techniques. Two that we learned about through Foundations that I found the most effective were the zero-based budget and the envelope budget. The zero-based budget is a budget that all the money you receive has a place. You will not end up with left over money, the left over goes into your savings or wherever your budget plan you have decided. The envelope budget is a way of putting money in envelopes and labeling them (health insurance, car insurance, emergency, fun, etc). If an emergency happens and you do not have the money available, you may have to borrow and pay off at a later