Today we’re featuring a guest post from California student Luis G who shares how EVERFI – Financial Literacy helped him realize the benefits of keeping his money in a savings account rather than under his mattress. Congrats to Luis for being one of our student blog contest winners!
Student: Luis G
Teacher: Thu Nguyen
School: Middle College High School
Sponsor: Union Bank
My dreams for the future are to go to the University of California, Irvine and earn a business degree and get a career in the business world. The EVERFI program has helped prepare me to achieve those goals by helping me save money through a variety of ways. Thanks to EVERFI enhancing what I know about savings, I’ve been saving more money through the power of interest. I have a savings account, which at first may seem small, but it adds up later on. EVERFI also has given me extra help for the financial aid application process for college. I knew very little, but thanks to EVERFI it made it a simple and painless process. Not only that, but I gained a greater understanding of lifetime earnings when it comes to the education that you receive. That with higher degrees you would earn more money over the course of your lifetime. EVERFI helped explain what subsidized and unsubsidized loans are which is a big help for me in the near future. Subsidized is the best option of the two because the federal government will help cover the interest I accumulated while I am still in school, unlike unsubsidized loans where I would be held fully responsible for paying all the interest that accumulates on my loan. The final way that EVERFI has helped me is by helping me learn on how to invest in the future. It’s better to do something with the money than leave it all alone under my mattress where I gain nothing from it being there.