Why People Find Oneself In Debt

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Any area concerning money is typically a difficult topic; it’s not because the topic of money is necessarily a hard topic to grasp, but because many people find it hard to talk about because, in today’s world, most people don’t understand how to manage their money and often find themselves in financial troubles. One of the major reasons why many people find themselves in debt is because they don’t know how to distinguish the difference between wants and needs. People continuously make purchases with their credit cards without realizing that at some point they’ll need to pay that money back, and when that time comes they don’t have the funds to pay off that credit card debit. Another reason why many people find themselves in debt is the cost of going to college. While most people receive scholarships to help pay for …show more content…

Tuition at FSW for me is around $7,000 a semester and I only receive $4,500 in scholarship money a semester, so I am left trying to come up with almost $2,500. I decided that I was going to take out the direct subsidized loan that FAFSA gave me, which was $1,750 a semester. I still had around $800 to come up with. The only good thing about the situation was that I had the money to cover the rest of the tuition because I was already saving my money over the years because I knew I was going to need money for college. After I finished paying for tuition, I received another scholarship that covers the cost of my books, so I don’t have to worry about that. The next part of my plan is to gain residency status with the school, so that way next semester I will be able to go to college for half of the price that I am currently paying. I’m going to do that by finishing my first year living down in Florida, which is the only thing that I need to do to establish

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