Today we’re featuring a guest post from Chicago student Khloe W who shares how the skills and knowledge she gained from Vault – Understanding Money— will help her reach her goal of graduating from college and earning her doctorate. Congrats to Khloe for being one of our scholarship recipients!
Student: Khloe W
Teacher: Linsey Rose
School: STEM Magnet Academy
Sponsor: MassMutual Foundation
Imagine standing on a tall podium, thanking your family for supporting you from undergraduate to doctorate! That is how I want to be. There are many things that this EVERFI Vault has taught me that will help me accomplish [my goals]. One big accomplishment that I want to do when I grow up is go to college, and be very successful. College is very important to me because I love getting an education and learning new things. Seeing my brothers and sisters go through college, I know it can be stressful thinking about failing many times. I also know that college costs a lot. EVERFI Vault has prepared me to become a successful and responsible college student through the modules.
One important thing that Vault has taught me is about the different institutions that take care of money like brokerage firms, banks and credit unions. This is important to know when I go to college because I will need a bank account, since I will be away from my parents and have my own responsibilities. Also, I will need to know about these different parts because I will need to open up savings accounts for emergencies and pay bills to help my parents with the college funds.
Knowing that college is a lot of money, Vault has also taught me to be responsible and careful with the people I share my financial information with. EVERFI says that financial information is very imperative and a key to success to life. If others can get access to it, things can do bad. For example, people can hack into your account and take your name, and spend your money, and that is not good. So, we have to be mindful about the information we share to others about our financial purposes. This is important to me and my dream to go to college because the world is cruel, and people can take advantage, be manipulative, and this can be food for thought as I continue to try to accomplish my dream.
One last thing that is very important and can affect my dream is how I spend and save my money. In college, I’ve heard many stories about the students being”broke”, and having no money to live off of, or not enough to buy necessities. I do not want this to happen to me and the way I can do that is to manage my money correctly. I will make a budget and make sure to document/establish my needs and wants. This is important because some people will focus on what they want to buy to fit in and do not focus on what they need to survive or succeed. Also, I can do this by getting a debit card. EVERFI Vault has taught me the difference between the two [debit cards and credit cards] and for this situation a debit card is the best decision. Knowing that I can track my balance, see transactions and transfer/send money, this can help me better manage my money and what I spend rather than using cash.
In conclusion, this is how EVERFI is helping me to with accomplish my dream to go to college. Vault is a very fun and interactive game that helped me better understand real problems in the real world.