management of personal finance

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On the basis of personal financial control, I am grateful, to say the least, that the 13.3-inch Apple MacBook Air typing this assignment is a testament to the power of saving. When I open my closet, it motivates me to practice hard and to buy more of the new collections. There is a modern selection of books, ranging from documentaries and course books, that keeps me company not only on the academic journey but also nourishes my intellectual greed in the study room. I dare to brag the elegant TV screen to keep me up-to-date with world news and everyday events in my one-bedroom rental home. Not to forget the guitar I bought through working as an assistant clerk in one of the reputable organizations in the neighborhood working part-time as I continue with my studies. I will be naïve to mention my dream car; Chevrolet Corvette Zo6 that I reserve to purchase after enduring my studies and formally join the corporate world as an active actor or a passive speculator. Displaying my net worth might be taken out of context, but as a student, that’s a greater score in the personal financial management scale.

Nonetheless, the opportunity cost is one of the obstacles that strained my financial management. Gone are the days where food oriented purchase took center stage. It required a lot of financial discipline to stare away from the conspicuously displayed burgers, pizza, hot dogs alongside a refreshing cold coke while money remains intact in the pocket or wherever it’s kept. The first salary, for instance, would sublime until I remained penniless leaving on credit with ‘shylocks’ charging higher interests. I could fake anything just to plead with my parents for assistance before even two weeks elapsed. When I sit down to calculate the much I have spent the whole month was running into hundreds of dollars.

Surprisingly, when my accounts ran dry, I was motivated to look for more money. I could endure long working hours shifting from one job site to the next sleeping three hours at most. I can recall losing money in the internet gambling few days after receiving monthly upkeep from parents. Winning the first bet motivated me to place more cash with a desire to triple and stock more money disregarding the affirmative voice pleading with me to sign out the gambling platform in vain. Consequently, there was no money to pay rent, buy food, transport to and from school not to mention credit to call back home through a failed bet. I had to foot over 2km, maneuver through shortcuts to ensure I reach school in time. Besides, I had to contend with a meal or two a day to ensure the available stock could last for sometimes to find a good ground to solicit for more funds from parents. All because of gambling, I heard my father warning his colleague on the phone.

From then, I developed an attitude of saving the extra money and budget in advance to ensure that when I receive any money, little, if any, goes to waste. Another objective is to maintain a continuous flow of money into my account through investing that will form the background of engaging in the much plebiscite real estate as a future investment. I plan to cut a niche in the hotel sector as I witness a lot of demand for low-cost accommodations during summer that could bring in more profit to proceed to high-end hotels for the deep pocket individuals as a future entrepreneur.

However, I value advance budgeting with a view of cutting down expenses. Pre-budgeting also ensures the little money can satisfy most of the basic needs limiting any chance of impulse buying. Hard work is my second value to ensure there is income to substitute the amount spent. The extra effort will make me self-sufficient and even have extra money to save for any future financial need. Further, it saves on time spent in watching movies, unnecessary friend visits and idleness in general, after school work, alongside reducing the dependency relieving the parents to attend to urgent matters.

In conclusion, a student, although still learning, has the potential to be independent. All they need is a good savings habit and thoughtful investment limits unnecessary wastage and reeve in the little finance they access.

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