Saving and Borrowing money
Saving and Borrowing Money
Nguyen Pham
Dr. Karman Tam
Neil Pham
EDUC 1300
Professor Dr. Karman Tam
6 September 2014
Financial Aid:
Saving and Borrowing Money
Since I was a child, my parents asked me to save my own money by putting a dollar into a piggy bank. I asked them why I have to do it, and they said:” It’s for your future honey, you will need it later”. And now, I can understand why I should have to do it.
There are million reasons to save money, a car for your transportation, a house for living, and many more important things that you have to afford in your life. Saving is more important in long-term financial, who know when we need money for emergency situations, or when people get a retirement from company and they need some money to open a small business for themselves. Things happen just like that, you should have a financial security. The tips for saving is you save the money as possible as you can from anytime in life, the more that you save the more you secure for your financial life (Houston Community College, 2005-2014).
Nowadays, most of people choose to save their money by depositing to the bank. Ether saving the money they have, people also can earn the interest of the bank from their money .They call it the saving account, I call it the money with benefits (Houston Community College, 2005-2014). There are different rate of interest on different banks. The common is that you will receive the extra money at the end of each year. It could be unremarkable money but you will surprise in a long period of time, as long as you keep your money in saving account.
In some case, people do not have enough money to support things in life, they borrow the money from sources. Some go without interest some go with interest. It calls debts.” Debt is money you borrow today and pay back tomorrow “(Houston Community College, 2005-2014). I believe that we should meditate our situation before borrow the money from any sources.
Nguyen Pham
Dr. Karman Tam
Neil Pham
EDUC 1300
Professor Dr. Karman Tam
6 September 2014
Financial Aid:
Saving and Borrowing Money
Since I was a child, my parents asked me to save my own money by putting a dollar into a piggy bank. I asked them why I have to do it, and they said:” It’s for your future honey, you will need it later”. And now, I can understand why I should have to do it.
There are million reasons to save money, a car for your transportation, a house for living, and many more important things that you have to afford in your life. Saving is more important in long-term financial, who know when we need money for emergency situations, or when people get a retirement from company and they need some money to open a small business for themselves. Things happen just like that, you should have a financial security. The tips for saving is you save the money as possible as you can from anytime in life, the more that you save the more you secure for your financial life (Houston Community College, 2005-2014).
Nowadays, most of people choose to save their money by depositing to the bank. Ether saving the money they have, people also can earn the interest of the bank from their money .They call it the saving account, I call it the money with benefits (Houston Community College, 2005-2014). There are different rate of interest on different banks. The common is that you will receive the extra money at the end of each year. It could be unremarkable money but you will surprise in a long period of time, as long as you keep your money in saving account.
In some case, people do not have enough money to support things in life, they borrow the money from sources. Some go without interest some go with interest. It calls debts.” Debt is money you borrow today and pay back tomorrow “(Houston Community College, 2005-2014). I believe that we should meditate our situation before borrow the money from any sources.
References: Houston Community College. (2005-2011). Saving and borrowing money [Video File]. Retrieved from http://hccs.financialaidtv.com/#playlist-1651:video-3.