Having sound judgment is crucial to making great buying decisions. Gaining knowledge about buying homes or apartments, and using credit cards is significant for seniors as they prepare to be graduated from high school.In Personal Finance class, we learned that buying a house can either be good or bad; it depends on the circumstances.
Buying a house can be a good investment if you can afford it and if you want to have the pride of ownership. According to Mrs. Wheat, “buying a home allows you to have the freedom to renovate or make changes.”
Mrs. Wheat also acknowledged that “buying a home can be discouraging because you have to pay for maintenance and repairs, as well as mortgage and property taxes.” Buying a home can hurt you financially if you do not plan ahead and save money.
If you are not ready to be a home owner but you are saving, renting an apartment would be the best thing; it gives you time to save up for a home.
The negative side of getting an apartment is that it can be very small and you can be irritated by the noise from the other tenants.
Credit cards are a big risk for students graduating high school because generally you will spend more than you can afford, which can lead to debt.
Worthington Christian senior Charlie Held told me that he is “not going to get a credit card because it’s a trap by bankers to get you to spend money.”
JJ Edelinski, a senior at Worthington Christian, said that he will “wait on getting a credit card,” but eventually will get one. He then said that he is going to stay at home to save up in order eventually to get a place of his own.
According to collegecreditcard.com, “seventy-eight percent of college kids have a credit card, and at least thirty-two percent of college kids have four credit cards.”
Jamie Taylor, a Worthington Christian senior, said that she is “going to get a credit card,” and she will “move into an apartment with roommates so that the cost of the apartment will be divided evenly among [her] roommates.”
Seniors have to be very wise about how they spend their money because most students accumulate debts from student loans. Thus, credit card debt would be an unwanted and unnecessary additional burden.
WCHS students, within Mrs. Wheat’s Personal Finance class, learn that being careful is crucial, as far as credit cards and home ownership is concerned; they realize that making smart decisions is very important in life after high school.
