Category Archives: Personal Finance

Inflation is a government regulation that affects the value of money or currency, and anything else related to money.

This regulation can change the value of currency, making its value higher or lower. There has been some raises in the value of currency, but for the past while inflation has decreased the value of currency.

At the moment three US dollars can buy as much as ten cents did in 1989. There are so many incidents of this over the years. 

Something that can be affected by inflation are interest rates. Inflation can affect these interest rates because inflation can raise or lower the value of the currency, which raises or lowers the interest rate, this can be problematic for someone who has to pay off a lot of debt, especially if the value of the currency goes down, and the interest rates will be raised. 

This regulation even affects housing prices, car prices, gas prices, and even the food that you buy. So pretty much anything that has to do with money can get affected by inflation.

Inflation is a disadvantage for the regular working class and business owners, because inflation is unpredictable, and these people usually are not prepared for the economic changes that inflation causes.

But on the other hand, for the government, inflation is an advantage, since they are prepared for it and can use it for their own needs.

Personally I think inflation is a good and bad thing, but for the past while it has not been very good.

Conclusion

In this essay I wrote about inflation, how it affects the economy, and what I personally think about it.

In this essay I will be explaining why interest rates are different for different types of loans. The types of loans I will be discussing are, car loans, house loans(mortgage), medical loans, and student loans.

Car Loans VS House Loans

Car loans have higher interest rates then house loans since cars lose value much more quickly than houses. Cars break down often, and eventually even shut down. Houses on the other hand last much longer. Even though there will be some issues over the years with a house when it comes to repairs, a house still lasts much longer than a car and a houses value does not go down that easily. When you drive a car from the car dealer the day you buy it, its value will go down by a pretty large percentage. So it makes sense why car loans have higher interest rates then house loans or mortgages.

Medical Loans VS Student Loans

Interest rates for medical loans are on the rise but they are still lower but most student loan interest rates are higher, this is because most people don’t really get a medical loan unless something horrible like a life threatening illness or injury befalls someone, that is usually when a medical loan is used. 

On the other hand many people have to get a student loan when enrolling to a college or university since most universities and colleges are incredibly expensive. This makes the interest rate higher. So it makes sense why medical loans interest rates are lower than student loans. Since medical loans are used less often but student loans are used all the time.

Getting exercise is very important for your body, it’s good for you, but it can also be expensive, especially when you get very committed to a sport. In this essay I will talk about how to save money on sports and exercise, and what types are the most expensive, least expensive, and gym memberships are they really worth it?

Saving Money On Sports and Exercise

Saving money on sports and exercise is a good idea, here are some tips. Look for other options; instead of going to a fancy gym class or gym, how about you buy some cheap but decent quality equipment such as a yoga mat, weights, etc from a sports store or amazon, and watch youtube tutorials to help you use the equipment properly. If you don’t want to spend money on equipment or like that kind of exercise, go for daily walks, hike, bike,jog/run, or swim at your local pool. These are cheaper since most of the things you need for these options you probably have right now, such as sneakers, a bathing suit, and a bike. Doing yoga is a great exercise form both for how cheap it is you just need a mat and the fact that it’s pretty good for you. Doing daily push-ups, sit-ups, burpees, etc are also great options for staying fit. Looking for different, cheaper forms of exercise is a great way to save money and become more physically fit.

What Are the Most Expensive and Least Expensive Ways to Get Into Shape

Getting really involved with sports can be very costly especially if you compete. Competing in sports is not only expensive for the cost of the sport’s program you do but also for traveling fees and equipment that does not come with the program, that you must buy. Competing in sports is definitely the most expensive way to get into shape.

The least expensive way to get into shape is probably doing exercise on your own. Going for walks, biking, hiking, running, doing daily home workouts, and doing yoga, are all ways of doing exercise on your own. These options both save you money and are great ways to get into shape.

Are Gym Memberships Really Worth It?

Some gym memberships can be very expensive but others very cheap. The issue with gym memberships is the fact that to use it well, you have to go to the gym often, if you do not the gym membership is not worth it and a waste of money. I personally think that a gym membership is only worth it if you go to the gym often because if you don’t it is not.

Smartphones are very useful tools, they can be used for many things such as calling, texting, and taking photos, but they can also be used as financial/business management tool. This is how you can.

As a Business Tool

 You can use your smartphone as a way to contact your employees, customers, or business partners. You can also use it as a way to keep track of files or important emails by saving them onto your phone, but I recommend that you have a paper copy and a copy on your phone just to be safe, since it’s really stressful to lose some important file by accidentally deleting it.

As a Financial Management Tool

Your phone can be used to keep you updated on your finances, and to make your life even easier, you can download financial management apps on your phone to make sure you are updated on your expenses and income. Which is very helpful.

Extra

This has nothing to do with business or financial management, but I felt it should be included also. You can also use your phone to help manage your time. You can do this by downloading calendar and scheduling apps, and most of these apps notify you to make sure you stay on track with your schedule. 

Conclusions

Your smartphone is a very useful tool and can be used in many ways, even to manage your business, finances, and your time. Doing these things on your smartphone is much easier than using a piece of paper, and also more efficient.

I learned that I actually make a pretty decent income from both my job and other things; I also learned that keeping track of your spending is very helpful and useful, and saves you time and money. I felt happy to see that I do make a decent income and that I make more than I thought did. I also felt glad that I figured out how to budget correctly and efficiently.

This is probably the shortest assignment I have ever been given.

This report is about my past income and what I think my future income might look like.

My Past Income

I began saving up money since I was seven years old, it started when my grandmother gave me twenty dollars for a gift and told me that if I saved up from then on I would have much more than twenty dollars, and that inspired me to save up, and I did; for the next five years I saved up doing extra chores, watching my siblings out of the house, birthday money, and money gifts from my grandparents, and I saved up to eight- hundred and fifty dollars, and I was only twelve.

Since I had a pretty decent some of money I wanted to put it into a bank at first until I first saw a gold coin, a real gold coin, and I decided that, that was something I wanted to invest in, the coin was my Dad’s and I told him that I wanted to by it, and how much money I had. So he and I made a deal, since the gold coin’s value was much higher than the amount of money I had, he told me that he would charge me all my money. It was a tough decision, and some may say that it was stupied choice, but I’m happy that I did buy it since gold is a good investment, and never goes out of value.

That was the first time I really spent my money and invested it.

After that twelve to thirteen, I worked hard doing extra chores, etc, but when I was thirteen almost fourteen I decided to get a real job. I began working at a family friend’s business, twice a week, it does not seem like a start but I am a busy person with school and other activities so it was a start for me. When I got my job I decided to start really saving money again, and now combined with the value of the gold coin I probably have a net worth of almost two thousand.

My Future Income

My future income is tricky to determine since I don’t know what kind of job/jobs I will have or if I may have my own business. But I do know that I will improve my abilities with money and making it so I believe I will make more money than I do now.

Conclusion

This is my essay on my past income and what I think my future income will be.

Many people have different opinions when it comes to the morality of wealth, some people think being wealthy is unjust, or a good thing, and there should be limits when it comes to wealth. Just to note this essay is about the wealth of money, wealth is sometimes a general term so I hope I made it clear on what kind of wealth I am talking about here.

Is It Immoral?

I do not think being wealthy and working hard is not immoral, the reason why I think this. The bible often states that working hard is something humans should do, and working to achieve a goal such as becoming wealthy is not immoral either.It can be immoral though if you steal and cheat for money. It is also immoral to love money over everything else, there are many more important things than money such as family, happiness, health, and etc, so stealing and loving money over everything else is immoral.

Is It Immoral That Others Have More Money Than Others?

Some people think giving money away for charity is a good thing and that it’s wrong that some people are richer than others. I personally think that is opinion is illogical and stupid, the reason I think this is because, working hard to get above others, and working hard to become wealthy is not wrong.

 I do not think giving money away to charity is a terrible thing, but you should have the choose to give money away, and choose not to give it away, being generous is moral, but being smart with your generosity is moral too. 

Should There Be Limits?

I do not believe there should be limits to becoming wealthy, the reason why I think this is because, first of all humans are meant to work hard, second of all the longer you work the more wealth you will probably gain. The only limit is yourself, and how far you will want to continue.

Conclusion

I believe that working hard, is the right and moral way of gaining wealth, and become rich.

Andrew Carnegie was the steel barron of his time. This is my essay on him.

Early Life and Background

Andrew was born in Scotland in November, 25th, 1835. He was born into a very poor weaving family. He lived in Scotland till 1848, when hard times hit Scotland, and starvation was a risk, he and his family immigrated to Pennsylvania.

Life in America wasn’t easy either, Andrew worked for twelve hours a day, six days a week, at a cotton mill for only twenty cents a day. He worked really hard. This benefited him greatly.

He then got a job at fifteen as a telegraph messenger boy, this job paid a little better. While working he would memorize all the locations of the businesses and the faces of the important business men. He became very good at his job and only in a year he got promoted as a telegraph operator and he was very good at this job too.

At eighteen he worked at the Pennsylvania Railroad company, and went through the ranks very quickly, thanks to his great work ethic. He got a good mentor who taught him business, and helped him make business investments. His investments paid off and he began investing in oil then in steel and iron after 1864.

His Nature of Business 

Andrew’s main business was steel, in 1889 he owned the biggest steel company in the world at the time. He sold this company though in 1901. He began dedicating his life to philanthropist work, which included libraries, scientific research, and the Carnegie Mellon University, Carnegie Hall. By the time of his death he had donated around five billion dollars in today’s dollars.

Why He Succeeded

The reason why he succeeded (in my opinion), is his work ethic, motivation to work hard, and problem solving ability. He never gave up and worked hard until the very end.

Oct, 7-13

Monday

Wake up at 7:30 am.

Start notebook school, 7:15 am.

Start Computer work 8 am.

Take break 9 am to 10:45 and have breakfast/ get changed/do chores.

11 computers work again.

12 take a break for lunch.

Finish school up, 2/3/3:45.

Drive to swim practice, 3:45.

Arrive to swim 4:15, start swimming 4:30, and end swimming 6:00.

Stay in the hot tub with friends from 6:00 to 6:15, go to change room shower and change from 6:15 to 6:30.

Leave 6:30.

Arrive home 7, finish extra school till 7:30 to eat supper with family.

Finish supper at 8, and get ready for bed.

Go to bed at 9:30.

Tuesday 

Wake up 7:45.

Do notebook work at 8, finish by 9.

9/11 have breakfast, get dressed, and do chores.

12/1 have lunch.

1 to 4:45 computer school breaks included.

Babysit little sister from 5 till 6:30 at the community center.

7 have supper with family, and finish up school from 8/9.

9 get ready for bed, sleep by 9:45.

Wednesday

Wake up at 5 am, have breakfast 5:10 at 5:25.

Leave house at 5:35 for swim practice.

Arrive by 6:05, swim at 6:15 to 7:45.

Spend time with friends, in hot tub, 7:45 to 8.

Leave pool by 8:15, arrive home at 8:45, have breakfast at 9:05 and do chores from 9:25 to 9:45.

Start school from 10 to 11.

Take a break at 11/12 and do swim notebook school.

12/1 do some more computer school.

½ have a break and do chores.

⅖ finish school.

Get ready for the party 5/5;45, drive to party 5:45.

Party 6:30 to 8.

Return home by 8:45.

Get ready for bed 9, sleep by 9:30.

Thursday 

Wake up at 7, do notebook work.

8/9 start computer work.

Have breakfast from 9 to 9:30, do chores 9:30/10:45.

School, 11/12.

Take break do chores, take a walk, do notebook school homework, and have lunch 12/2.

2:00 to 2:25 for school.

Drive to work, work at job from 3 to 5/ have something to eat after.

6/7:15 swim practice.

Leave pool by 7:30, arrive at home 8.

Have supper at 8:45, and go to bed at 9:30.

Friday

Wake up at 7, do notebook school.

Start computer school from 8/9.

9/10, have breakfast and do chores and get ready for the day.

Do school 11/12.

12/2 have lunch, have a walk, and do chores.

2 to 3:45 to school.

3:45 drive to swim practice, arrive by 4:15, swim from 4:30 to 6.

Stay in the hot tub with friends from 6 to 6:15, get ready and shower 6:15 to 6:30, leave pool 6:30.

Arrive home 7, have supper 7:30/8.

Get ready for bed 8:20/8:25, watch movie with family from 9 to 11:45.

Go to bed at 12.

Saturday

Wake up at 8 am do chores, have breakfast at 9, leave the house at 9:45

Babysit my little sister from 10/11 after her Ballet

Go to a farm stand with Mom at 11:20.

Return home by 11:45.

Free time, spend time with family, go to the ski sale with family 1 to 4.

Return home at 4:30 do Personal Finance and Business unknown time, prepare apple pie at 6 with Dad.

7:30 have supper with family.

8 get ready for bed.

9 watch a movie with family, go to bed 11.

Sunday

Wake up at 8:25.

Have breakfast at 10.

Spend time with family.

Go to work from 11-1.

Return home at 2.

Prepare for Thanksgiving, do personal finance 4:25, do business at 5:10.

Have supper at 6:45 finish at 7:45, get ready for bed at 8, watch movie at around 8:45.

Finish around 11.

Sleep at 11.