One night, listening to the sounds of.. stuff, I realized that my (startling) amount of overdue homework seems to have a correlation to an adult's pool of debt ("the pool came with a free deck chair, and that was just too much of a deal to pass away").
First comes the relaxing. Playing videogames instead of doing the homework, or buying that new videogame with a credit card (the latter being the "debt" scenario). Days after the due date, the student might start to work on the project, trying to make it better than before, to compensate for late marks off. In the case of debt, one would try getting a raise, and working harder to pay off what has accumulated. Meanwhile, the debt/homework starts to pile up over time through interest or school. The student/adult will try to work harder to pay off their debts, but by persisting in their ordinary activities, the work never compensates to the debt.
And so a vicious cycle has begun, and the only way to change it is to change our day to day activities.
Just a thought. I hope it's enlightening in some way.
Wow, that was a really good attention catching paragraph.
ReplyDeleteI actually read this!
ReplyDeleteAren't you happy?
My ultimate goal has been achieved! Thank you!!
ReplyDeleteI think you should put more reactions than funny, interesting and cool. A bit biased there, I see.
ReplyDeleteBut now for my actual comment:
That's why teachers get you in school to hand in assignments on time. But sometimes, we don't always get the repercussions that we need, so some experience is lost, thus, leading us to some irresponsibility ⇒ financial irresponsibility. I don't think this is a case of financial illiteracy though. I'm pretty sure that the buyer of this video game would know the repurcussions of purchasing something that he couldn't pay for.
That is all.
I'm very sorry about the bias that has been set in the rating of posts, but I cannot or at do not know how to change it (the html is written by google and published, we have no choice but to comply).
ReplyDeleteSadly, many buyers don't seem to care whether or not they can afford an item (Exhibit A: "shopaholics"). A 2006 study showed that on average, Canadians owe $1.06 for every dollar made. There is a clear lack of understanding in the field of debt by consumers.
I wrote this post merely to show a connection between two points that students can easily (for me at any rate) relate to.
Financial illiteracy obviously expands much further than debt, but this branch is one of the most obvious and understandable.
I hope I've clarified on something.
Why do you still advertise this blog when you never update it?
ReplyDeleteso ur saying that by being financially literate people will b able to pay off thier debts? i'm confused bro o_O
ReplyDelete