Money has always been an issue in my life. I think it has affected me so much because I cannot remember a time when I ever had a satisfactory amount. I remember when I was younger my mother was on welfare and public housing. She had to sacrifice and struggle to make the ends meet each month. I cannot remember a time when my mom ever had a job. She had mental health issues that made it difficult for her to maintain employment. I knew when I was ten years old that I did not want to be like my mother when I got older. I watched her worry about how she would pay all the bills every month. Although we did not have much financially, my mom made me feel loved in other ways. I do not know how she did it, but she made sure I was well taken care of. I would get shoes that my friends with both parents could not get. She made sure that I did not have to worry about our lack of financial stability. …show more content…
I could not grasp the concept of budgets or saving. I would spend my money as soon as I made. I must admit I had a shopping addiction. I wanted to shop all the time. I felt the need to try to keep up with the fashion of everyone around me. As I reflect on the way I handled money as a young adult I feel the way my mother dealt with money had an influence on my choices. I knew that my mom did not have much money, but she still found a way for us to go shopping. I always had the nicest clothes and shoes. She made sure I never felt inadequate to my friends whose parents had more money than us. She put a great importance on appearance and looking nice. I inherited my shopping problem from my
Money is a necessity in everyday life within the modern world and there are different ways to define money due to a variety of perceptions and views held by a wide range of people. However it is widely accepted that money is defined as a tool that serves as a medium of exchange, a unit of account which means that it is an agreed measure for recording the prices of goods and services, and a store of value. It also has to be firstly acceptable as a medium of exchange, durable, convenient for usage and finally divisible. There are different types of money which are Commodity Money, Convertible Paper Money, Fiat Money which isn’t convertible, Private Debt Money which are deposits and Composite Currencies such as the Euro.
... In conclusion, money is powerful in our society and has always been throughout history. Therefore, money has a major impact on families and research show’s that it may even have a larger impact on stepfamilies. Clark, Janet A., Leigh, Sharon.
financially, due to my father falling ill and as a kid I didn’t understand finances or the struggles
However, from personal experience, I found the opposite. My family’s hardships helped me learn a lot. I did not want to ever struggle with money. As a result I found a good paying part-time job and worked as many hours as possible in high school. Having worked so many hours, I saved a lot of money and was financially successful as a high school student. Even though I was in a good monetary position, I was miserable and lived in a state of negative mental health. In this case, the desire to have money was my sole focus, which negatively impacted other aspects of my
Whatever your opinions are on the world, it can be certainly argued that this world runs on money. It’s what people work their whole lives to attain and even when it’s attained and one can live a suitable life with it, it’s still sought after as if it’s an endless chase of small victories. Money provides economic freedom and helps us achieve the products and services we want in life. The big question here is what should that money be able to buy? Should prostitution be legal? Should we be able to buy hitman to take away another souls life? These are the questions you have to ask when it comes to what money can buy and the morality behind it. I want to share my opinions on this topic because I believe that yes there are some lines that need to be drawn but for the most part, I am under the belief that money should be able to buy everything that you want as long as it doesn’t directly affect another human beings safety.
Money. One cannot deny that money has its own unique importance in the day to day bustle of human life in today’s age and time. Even back before the dollar or any set currency was put into play to help regulate transactions, wealth was to be had. A person would be considered wealthy by their livestock or other items they possessed, and they could then in return use their items to barter with others in order to procure different things that they wanted or needed in their lives. Coming back to today’s day and age, bartering is not a means that can be used quickly and efficiently, thus enters currency. Bills and coins are used all over the world as forms of currency today’s global economy, but in some more modern cultures, a new player has entered
It's been hard getting enough money for my classes and supplies, but some of the socioeconomic hardships I've gone through is having my mom getting laid off from her job, losing my stepdad along with our house. A few years ago my mom along with everyone else at the company she was working at got let go and had nowhere to work. My mom and stepdad got a house together, but he died about a year later and ever since then things have been hard for the both of us. Around the same time, her arthritis started getting worse so she had to make the decision to retire and my mom being the amazing person she is; did everything she could to keep the house. A few weeks later she was able to find a caregiving job, taking care of the elderly and I ended up
Does money control today's society? The Younger family is an African American family in Chicago in the 1950s. The family lives in a small and ratty one window apartment. They are an “average” family who receives the proceeds from a $10,000 life insurance policy from the death of Walter Lee Sr. Everyone in the family has their own idea of what they want to do with the money, if it was up to one of them. The author's story setting is in the apartment surrounded by various conflicts, conversations and actions of the characters. The story line is only a couple of days, but in that time the author is able to show how poverty can have a negative effect on the Younger family.
I never had a problem with money until I had to file bankruptcy in late 2003 because the international business I had invested in never fell through and I had lost every single penny. After then, nobody would even think twice about hiring me, disregarding my master’s degree, because filing bankruptcy looks horrible on your record. I had a few very nice cars that I had to sell off so I could atleast get out of debt. I had a wife and 2 daughters I was struggling to support when we were kicked out of our house for being late on our bills. We had nothing. The feeling of being on top changed to the
Building a financial literacy for your children is important. Giving them an allowance will help you do that. An allowance will give kids a chance to experience dealing with money before it becomes a crucial thing for them to know. The more practice and time they have dealing with money, the easier it will be for them to handle it as they get older. It will also give them more time to learn and perfect budgeting skills. Giving your child this skill early in life can help prevent complications when they are on their own. It is important to learn early on that you must work hard for the things you want. Your parents won't always be there to help you out.
Personal Finance is a class I’ve wanted to take for a while now. My major is Finance not because I want a career in finance but more to learn about finance for my own personal situation. This class taught me so much! During this class I was able to evaluate my financial situation and set financial goals for myself. The four topics that helped me the most were emergency savings, buying a car, purchasing a home, retirement, and estate planning. After completing this class I have a better understanding of these topics and how to achieve my financial goals.
Many people argue that money is not the key to happiness. However, have you ever seen a sad person riding a Ferrari? Or have you ever seen a man crying because he is too rich? In fact, I have no doubt that you've seen a man crying, because he is too poor. Money brings a lot of things to our lives. Money gives us what we want, gives the possibility toward a better future, and brings love and friendship as well. Therefore money is the ultimate key to happiness.
Saving money brings security for any future expenses. The earlier in life an individual begins to save, the better they will be set financially in the years to come. There are several reasons why it is important to save money. A few of these reasons are for emergencies, retirement, and simply for luxury spending. Having money will benefit each of these examples.
Money and Happiness are two things that we have all given a lot thought. We put lots of effort into these two things either trying to earn them or trying to increase them. The connection we make between money and happiness is strange because they are two very different concepts. Money is tangible, you can quantify it, and know exactly how much of it you have at any given time. Happiness, on the other hand, is subjective, elusive, has different meanings for different people and despite the efforts of behavioral scientist and psychologist alike, there is no definitive way to measure happiness. In other word, counting happiness is much more difficult than counting dollar bills. How can we possibly make this connection? Well, money, specifically in large quantity, allows for the freedom to do and have anything you want. And in simplest term, happiness can be thought of as life satisfaction and enjoyment. So wouldn’t it make sense that the ability to do everything you desire, result in greater satisfaction with your life.
A lot of the things I bought that I wanted include food and miscellaneous items I bought at Wal-Mart. I also bought food which depending on the circumstance, I would consider as a need. In my spreadsheet, I categorized certain foods as wants, and others as needs. This depended on the time of day and how much I spent. For example, I know that I did not need to spend at amount on a meal at a restaurant. However, I was with my friends and I wanted to. On the other hand, the day I bought a burger at A & W was more of a necessity, since I did not pack food from home to take to school so rather than stay hungry, I decided I needed to buy food so I wold no longer be hungry. I believe this is fairly representative of my usual spending habits. Although, I know I don’t spend this much in a week. I believe on average I spend around $20.00 a week, which I mostly spend on food. Since I went shopping with my friends and my family this week, I spent a lot more than I usually do. I would also like to point out that the $24.42 I spent at Wal-Mart was because my mom had not brought her money. If my parents are out shopping with me, they are the ones who will generally pay for items they need and items I want. This also depends on how desperately I want the item. If they don’t want to pay for an item they believe is unnecessary for me,