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Financial Freedom

Updated: Apr 4, 2019

Financial Freedom


What is financial freedom and is it really attainable? When students graduate high school, they are faced with choices regarding life and money. College is more expensive than anticipated and student loan interest can be crippling, not to mention monthly expenses like rent, insurance, phone, and food. Today, more than 70% of college students graduate with significant loans- the average being $37,172 (a $20,000 increase from 13 years ago). Yikes.. That's a lot.


Gaining financial freedom means to earn enough money and manage your savings in a way that you no longer live paycheck to paycheck and are able to put money to work for you.

So is it possible to be financially free? Despite the financial difficulties of our modern world, Robert Kiyosaki has said, “financial freedom is available to all those who learn about it and work for it”, but in order to be free, we have to learn how it is done.


Tools of Financial Freedom


Understanding basic money habits is critical, and parents are crucial in this step. If teens have seen examples of positive money spending habits, they will be more likely to adopt such habits in their own lives.


Another necessary tool in gaining financial literacy is economic goal setting. If an individual has no idea where they want to be or what they want to become, it is impossible to create a way to get there.


Perhaps the most important aspect to this training is dealing with real money as a teen. Teens must see the true value of the dollar and have experience in budgeting and developing a monetary plan. Creating a financial system could be as simple as setting a goal for a specific amount to spend in a month, or as complex as a teen’s experiences will allow. If given the opportunity to create good habits in middle and high school, this could provide an unshakable foundation for a teens economic life.


The average American sees hundreds of advertisements everyday. Each one telling us about products or services that we need.  A key to becoming financially stable is the ability to see through the ‘fluff’ and recognize that spending for the sake of spending can be an extremely harmful addiction. Teens can learn that maintaining an attitude of responsibility and creating reasonable spending habits will have a high positive impact in their life for years to come.


Learn With The Startup Academy


But how are these fundamentals of creating financial independence achieved? The Startup Academy provides a low risk investment that will teach middle school and high schoolers financial skills that will help them in their future careers and for years to come. Given the opportunity to start their own businesses, students will learn the principles of budgeting, goal setting, responsible spending, marketing techniques, and countless others. Our goal is to teach teens that their dreams are important and, with the right tools and lessons, can become a reality.


Author: Meg Sheffield


https://www.cnbc.com/2018/02/15/heres-how-much-the-average-student-loan-borrower-owes-when-they-graduate.html

https://www.financialeducatorscouncil.org/youth-financial-literacy-statistics/

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