The Importance of Having Patience and Saving Money :: Personal Finance

Beginning at the age of six, Americans begin to attend school. They will spend the majority of their time in this learning environment until they graduate high school and probably college. During this time, people are educated about different subjects in the hopes that it will help them live a profitable life. What is a better way to solve a problem, than by teaching people about the causes and how to not get cheated? The current housing crisis could have been averted if the American people had been properly educated about how to handle banking and loan situations. However, due to a mentality that people should buy what they cannot afford, America has been in an ongoing recession for many years. On another note, banks need to adjust the way loans are given out as well as the programs being set up to pay them back. There is no quick fix to this problem, rather a long-term investment that must be made. Instead of pouring millions of dollars that the government does not have int o a possible solution that may or may not work, I propose the government implements an educational course in an attempt to revise the way Americans think. Everyone is aware of the problems that have been caused by the interest rates and the credit cards and the quick fixes that have attempted to solve the problem. The issue with most of these fixes is that the money used is not money currently available. Sure, more can be printed, but that lowers the value. The fact of the matter is that throwing money at a problem is not going to make it go away. In fact, it only makes the problem worse. It shows the public that it’s perfectly all right to spend money that they don’t have because eventually, everything will be okay. That’s not the case. Up until a few decades ago, everyone believed in having patience and saving. In today’s day and age, people want everything now. Technology has continued this message with everything only a click away! If people knew that saving money is the best way to get what you want, then the foreclosure issue would not be such a serious problem. Instead, people go out and spend money they don’t have. The public needs to be educated on how to make the best deals and get the most out of the money that they have.