In many places around the United States, signs of recession are evident. Jobs are being lost, students are settling for cheaper colleges, and others are working multiple jobs on top of school. There is no avoiding the fact that hard times are well underway. As students, we are forming our futures, planning ahead and we need to remember that in the real world, money matters. That’s why we need to learn how to deal with budgeting and saving and one of the best ways to learn this is to start now by living within our means.

The solution is simply knowing how much money we make and then not spending any more than that. If we don’t do this, we won’t end up in debt. For those of us who haven’t noticed, debt is bad. Debt is the reason that bills like Governor Scott Walker’s budget repair bill are being passed. Debt needs to be avoided, and we need to start learning now.

Mrs. Soucoup, a Personal Finance teacher at Bay Port, has some advice for us students. “Before you spend any money, stop and think, is this a need-to-have or a want-to-have? If it’s a want, wait twenty four hours before you purchase it,” she says. She has an excellent point. As human beings and young ones at that, we act on impulse. When we see something we just have to have, we grab it and go, often times without second thought. By waiting a day, we give ourselves time to think about what else we could buy with our money, and sometimes we think better of it. However, if it’s still something you really want, don’t be afraid to buy it, just be sure to stay within your budget...and try to pay cash.

Credit cards are another huge issue in America. My personal goal is to never have a credit card, ever. How this will work out, I’m not sure, but I think that it’s a good thing to keep in mind. Because using a credit card is so simple, people just do it without thinking about the debt that is being accumulated on the other end of the transaction. Credit cards are fine if you know how to use them properly and how to build up credit, but if you’re a weak shopper, like me, credit cards may be your downfall.

As high school students, we have our entire futures ahead of us, college, family, and jobs are all looming ahead, and all are expensive. However, if we start now by setting financial goals for the future, learning how to budget, and using smart shopping techniques, we will be able to function easily after we’ve left behind the comfort of our homes.