Financial SMART Goal According to the National Student Wellness Financial Study, out of 18,795 surveyed students, about 60% said that they worry about having enough money to pay for school, and 32% students say they have sometimes neglected their studies because of money they owed. With such a high percentage of students, UMBC has taken the initiative to start a financial smarts course which informs students about how banking and credit work, how to budget their savings to pay for college and how to land a job after graduation, all which help to achieve a student 's financial SMART goals. My smart goal is to earn about $300,000 to $500,000 in about one decade or so. I will show you how I plan to achieve this goal with what I learned from this …show more content…
It can be different for many people, so I had to perform this SMART check to make sure my current financial goal was realistic. First of all, is my goal specific? Yes, it addresses how much income I want to make and in what amount of time I want it to be completed. If I were to add more, I would say “Starting my junior year of college….” in order to provide a starting time for my goal. Next, is it measurable? Yes, because one can calculate how much income I would need to make each year for the next ten years in order to achieve my goal. My salary would need to be anywhere from 30,000 to 50,000 a year, which is a very achievable target, and in fact I can even decrease the time in order to make it a challenging goal. It is relevant because this is about how much my parents spent on their new house, so I want to be able to help them pay if off in the future. So it meets the criteria of a SMART …show more content…
This means you need a job, and a good job. So just search a couple of job sites, and apply to like 2 a week until someone contacts you right? No. You have to treat everyone in your life as a connection or a network. I you want to get across a pond, you can either walk/ swim through it or just step on the rocks. Quite frankly, I prefer dry feet, so I am going to step on the rocks. This is similar to getting a job, majority of the times, people get jobs through close contacts or connections. This means that you have to let everyone know you are looking for a job, this will help you get a job faster, and more efficiently. However if you don’t have many connections who seem to be able to help, contact people who can get you where you want to go, like alumni who went to the same college you went to and ended up in the industry you wanted to go. Don’t you just love
For the past decade, The United States has stressed the importance of college education, to those seeking employment, and better careers. For most people, college is the logical next step in education, as it provides a working knowledge of a desired field and opens the door to many opportunities, but college has become increasingly more expensive as time goes on. Many people feel that college is no longer an option financially. Even with financial aid and scholarships, the cost of a college education can still be very taxing. This is due to massive price increase across the boards, but the main issue on most people’s minds is the debt that will be acquired from higher education.
It is a norm and expectation in society today for students to pursue higher education after graduating from high school. College tuition is on the rise, and a lot of students have difficulty paying for their tuitions. To pay for their tuitions, most students have to take out loans and at the end of four years, those students end up in debt. Student loan debts are at an all time high with so many people graduating from college, and having difficulties finding jobs in their career fields, so they have difficulties paying off their student loans and, they also don’t have a full understanding of the term of the loans and their options if they are unable to repay.
Children of the twenty first century spend nearly 13 years in school, preparing for what is college, one of the only ways to achieve the so-called “American Dream”. College is the best way to start an advanced career and go further than one possibly could if college degrees were not available, allowing people to achieve their view of the American Dream; whether it be large houses, shiny cars, multiple kids, or financial comfort, college is the stepping stone to achieve the American Dream. But all great things come with a price, college dragging along debt. Students who attend college struggle to find ways to pay for it, leading to applying for student loans. These loans a great short term, paying for the schooling at the moment but eventually the money adds up
I found several helpful strategies throughout this course but the ones I found to be most beneficial were the ones on setting goals and managing financial resources. By identifying my specific goals and then divi...
Everyone knows that going to college and getting a degree is the most effective and guaranteed route to ensure a prosperous financial future, right? College is considered by most to be the best investment you can make in life, but what happens when that investment leaves you drowning in thousands of dollars in debt right after graduation day. This is the situation that millions of college graduates are faced with in 2016. Rising college tuition perpetuates student debt and is on a sharp incline and it seems to have no ambition of ever slowing down. The effect of this catastrophe is felt by millions of families across the country who now question, “is college really worth it?”
Although a college education grows more and more expensive every year. People begin to question whether college is a good idea to invest in or not. “As college costs continue to rise, students and their families are looking more carefully at what they are getting for their money. Increasingly, they are finding that the college experience falls short of their expectations”(Cooper. H Mary). Many people believe that the cost of a college degree has outstripped the value of a degree.Studies show that a college degree will increase your earning power. A lot of people say that a college degree now is worth what a high school diploma was wor...
Most kids that have graduated high school have never been educated on the subject of personal finance, so they don’t know things like how to pay bills, or even how to do something as simple as applying for a job. According to a family friend of mine, Ron Hart; who happens to also be an award-wining author and TV/radio commentator, believes that students in high school don’t learn anything about how to get a job or get prepared financially. He states that, “ Students should prepare for a job. Maybe, instead of taking a fifth field trip to the Trail of Tears site, do one to learn about real jobs in an area they might want.” Hart believes that most basic high schools aren’t teaching students how to become financially stable for their future, which can cause major issues. He claims that “few schools teach about the value of hard work, ingenuity, gumption and entrepreneurship. Those lessons are as rare as Donald Trump bumper stickers in the faculty parking lot.” Hart also goes on to talk about how high school does not prepare you for life the same way college will. There are so many more lessons to learn there that people are missing out on. College is very important due to the fact that it will teach students more skills about finance and job seeking that most high schools don’t. In college, kids will learn how to save and budget their money, pay for their own expenses, and prioritize their needs verses their wants. Learning financial responsibility is also something that kids will carry with them throughout their jobs and their life. Having more freedom to understand the concepts of person finance will allow students to make mature decisions while easing their way into real world
College can lead to satisfaction in life that may benefit you in the long run; however, the price to attend an institute of higher learning can be quite expensive. Going to college could be an advantage, helping you to potentially get a job, but it could leave students in debt and without a plan to pay off their student loans once studies are complete. Everyone should have a chance to increase their education; however, higher tuition costs can decimate someone’s possibility of achieving the dream of graduating from an institution of higher learning. The cost of going to college needs to be lower in order to make higher education accessible to everyone, provide greater career opportunities to more people, and lessen the amount of debt students
Over the past decade, it has become evident to the students of the United States that in order to attain a well paying job they must seek a higher education. The higher education, usually a college or university, is practically required in order to succeed. To be able to attend these schools and receive a degree in a specific field it means money, and often a lot of it. For students, the need for a degree is strong, but the cost of going to college may stand in the way of a successful future. Each year the expense of college rises, resulting in the need for students to take out loans. Many students expect to immediately get a job after graduation, however, in more recent years the chances for college graduates to get a well paying job isn’t nearly as high as it used to be. Because students can no longer depend on getting a job fresh out of college, it has become harder to repay the loans. Without a steady income, these individuals have gone into debt and frequently default loans. If nothing is done to stop colleges and universities from increasing the cost of attending their school, the amount of time it takes for students to pay off their loans will become longer and longer. The extreme expenses to attend a college or university may leave a student in financial distress: which may ultimately lead to hardship in creating a living for them and affect the country’s economy.
Starting with my academic goal of making it into the Honor Society, the first step of accomplishing this using the SMART system would be to specify my exact goal. For me, I feel it will be the earn an A in the 6 classes that I take. The next step for this goal would be to make it measurable. This would be done be checking my progress every week, in each class I take to make sure that I am making acceptable grades in order to obtain the A, in the class. Next would be to make sure this goal is achievable/attainable. In order to make this goal attainable, I need to make sure that I am setting ...
My two immediate goals are to get an outstanding education while playing competitive soccer. The University of Wisconsin-Madison seems like the perfect fit. In my family, academics always comes before athletics. I want to attend a school where I’m challenged every day in the classroom, where I can explore different majors while having the support of top-notch faculty. I anticipate taking courses in the Computer Science School or the Wisconsin School of Business. Both offer a wide variety of intriguing research opportunities; for example, Independent Study Projects and Faculty Research Projects.
While this scenario may occasionally happen, one of the most important sources you have when looking for a job is the people who know and care about you. Start your networking process with who you know. Family members, friends, former colleagues, your old college roommate and even your spouse are people who genuinely want you to succeed, making them the best source for networking.
Everyone has goals they want to achieve. Everyone also knows it takes hard work and time to achieve them. I have two goals; I have a personal goal and academic goal. My personal goal is to get a scholarship for college. My academic goal is to get at least a 3.5 G.P.A as my accumulative G.P.A. If I get my G.P.A goal it may lead me to get more scholarships.
Figuring out where you will be financially years from now is hard to imagine. There are always what you plan, and then there’s things that just happen that you would usually rather not have of. You can always make goals and things and hope that things go alright and end up close to what you expected.
I have taken many preparations to help me achieve this goal. During my summer break, softmore year, I chose to take an online economics and personal finance class. The class presented many challenges but I felt it would be better for me to push myself over the summer so that I would not be taking an easy route when it came to learning the importance of financial awareness.