Financial Literacy
Everfi is a great program for all high school students. It teaches you everything you need to know about personal finance and how to live a debt free life. Everyone struggling financially should review the lessons provided on Everfi. I wish my family member knew about this when she needed help with her financial life.
Spending Mistakes
One of my family members made a financial mistake that has affected his life. He had been using credit and spending constantly since he was eighteen. He had no budget, an awful credit score, and did not save. Over the years, he had been falling further and further into debt. Last year, he hit rock bottom. He was not able to get a job because of his credit score and could not seem to stop using his credit cards. In November of last year, he realized something in his life to change. To this day, he is working on fixing the problem he created. He no longer has credit cards and was able to get a job that pays the bills. It will take a while, but eventually he will pay off the thousands of dollars of debt he has gotten himself into.
If I were in that situation, I would have realized it much earlier than he did. He needed to make a budget and keep track of all of his spending. This could have helped prevent going into further debt. He also should have gotten rid of his credit cards to prevent the risk of using them. Lastly, he should have rented a smaller apartment at a cheaper price. These are a few of the many ways he could have helped his situation.
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