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Reflection On Personal Finance

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Personal Finance Final

I have come to realize that my personal finances are going to be a very important factor in my life. I never thought very deeply about money until taking this course. Dave Ramsey’s lectures as well as Mr. Beins advice has helped me to understand the different aspects of financial management as well as how important the long term effects of saving, investing, and speculating money will have on my future. As I approach the end of my senior year and look back on all the rules, systems, advantages, disadvantages, etc, learned in both semesters of taking personal finance; I am very grateful that I decided to take this course and had the opportunity to learn from Mr. Bein.
Two years ago, I moved away from my family so that …show more content…

Facts that I've come across during this class include national debt, average credit card debt, average debt of student loans, average cost of home, average income of a family of four, and average cost of a wedding. While researching these facts, I was amazed by how much money it takes for a normal life and how many people get in debt. People just keep on spending until they dig themselves into a hole in which takes them years to come out of if ever. As Mr. Bien has said many times “choose your rut carefully” (Mr Bien). For instance, the national debt in the U.S is just above 19.3 trillion dollars which is a number that I can barely comprehend (concord coalition.org). Average credit card debt is right around 15 thousand dollars and student loan debt is around 25 thousand dollars (student loan hero.com ),(nerd wallet.com). These numbers go on to say that Americans love to spend and we only care about our present situation without considering the future consequences of our spending decisions. These enormous debts place a huge burden on individuals, couples and families everyday. People will continue to be burdened when you consider that the cost of a home is around 190 thousand dollars and that an average wedding runs in the ballpark of 26 thousand dollars. This can overwhelm a normal

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