Here is my essay (246 words) from Ron Paul’s Personal Finances class through video lecture centering on the topic “How I can control small expenses” and covering all the necessary points. If you have any questions, please leave them in the comments section below.
Most teenagers don’t seem to have many so called “big expenses” but there are some things that adolescents would obviously like to save up for such as a car, computer, or college education. But when the time to fork over the funds for these big ticket items rolls around, their wallets are devoid of anything but old candy wrappers and pocket lint. Why does this always seem to happen no matter what steps are taken to avoid it? The fact is, every time someone walks through a shopping center, advertisements scream at him, blaring about the manufacturer’s amazing product for only $19.99 and “but wait, if you purchase now you can get more…” The potential buyer falls into the trap and is parted from his money for an insignificant trifle. But picture what happens when such decisions are made over and over again. Even the expense of something tiny like a song from I tunes or a phone case can quickly change a teenager’s future profit to debt if left unchecked. One way to greatly improve a teenager’s monetary situation would be to increase income by obtaining a small job. Another idea would be to lock up a portion of every payday from oneself to prevent tapping into the savings fund. Also consider each item carefully before buying or make someone else buy it for you through underhanded trickery. These are some handy suggestions for keeping your wallet fat and happy no matter what your age.