Yap 1 Justin Yap English 91x Mr. King 10/05/07 Is Schooling for Everyone? Martha Johnson lives in a medium-size city. Her family is an average working class family and none of them went to college. She wants to go to a state university and major in business in her local town. Near the end of high school, Martha’s aunt passed away and she inherited quite a bit of money. The problem is that she does not know how to use the money. She has a few options but is not quite sure what to do. She could use it for a vacation to Hawaii when she has been dreaming to go there for a very long time. She could also use it for an apartment, vacation, school but no work, or save the money. Martha’s parents hopes that she will use the money wisely, but will not tell her unless if Martha herself asks for advice. It can affect her by being in debt in the future or by having a great deal amount of money in the end. Having that said, I believe she needs to be aware of what choices she chooses. Martha’s best choice would be the school but no work for she can get a better job later and make better money than what she can get from inheriting. Martha’s best option to use her inheritance money would be on school, but no work. However, there are disadvantages of using the money for school. It would cost her more money now for she would have to pay for books and tuition fees. She would not be able to gain money during school to keep up with the payments due to unemployment. She would not have as many family responsibilities due to homework and studying. An advantage for going to school, but not working is by making more money
Yap 2 after she gets her degree in business. Since she has an education, she will be able to earn more money for she would graduate with a college degree instead of having a high school diploma. She’ll also have more time to do her homework and study since she’s unemployed. This will also expand on her job options and she would most likely to get a job compared to people finding a job with a high school diploma. Since she is in school, she will get more motivation to pursue her dreams of being a business woman. She will also be a roll model towards her siblings since she is going to school. Having a roll model in her family is good so the siblings would look up to her when they need an inspiration. Her second best choice for spending the money is to save the money. This will make her interest rate go higher and will accumulate over time if she puts it in the bank. An advantage of having the money in the bank is to collect interest and in over time, can be useful when it comes to an emergency and for retirement use. She will also be able to help her family by lending them money when in time of need. Since she saves money, she will be able to use it for schoolbooks which can cost a lot depending on what book and how many. Another good reason for saving money is that there is a less temptation of using the money when it is in the bank. The disadvantages of saving money is that she will not be able to use it when she wants, and her family will be asking her to lend the money to them when in need. Since she is saving the money, she will be very limited on how much money she uses for expenses. She would also having to use money for her mothers medication which will not allow here to save. Being asked to lend money to your family members can be annoying and frustrating at times. Another disadvantage for saving money, is that it would take her longer to get her career started for she wants her business up and running.
Yap 3 Martha’s third worse option in which she has to use money, is on a used car for it will cost even more to pay for gas & car maintenance. One advantage of having a used car is by having it financially more affordable than a new. In this case, it will save her money and will have less insurance as if she bought a new car, which is a good thing. Once she has a car, it will be a faster commute between places for it will give her more time to study for schooling. A disadvantage of having a used car is by having it more likely to break down in which she would waste her money on .Since she has a used car, it only has a certain lifetime span before it starts having major problems. She would have to pay even more money to fix the problem depending on the problem – how critical it is and/or what it is. Since she would have a car, she could drive her family to places which is bad for she will lose time in studying for school. Her second worse option would be having an apartment. Having an apartment would cost a good chunk of money, as she would have to pay rent each month. One of the advantages for having an apartment is to not have to pay huge mortgages in which is a good thing for it would not cost much as if she had her own house. Since she would have her own place, there will be no more family responsibilities and she’ll get more privacy in which she’ll have a less of distraction and less things to worry about when she has her own place. One of the disadvantages of having an apartment would be that she would have to pay rent each month for yet in which would cost her even more than paying for a house as time goes on. However, her family members would most likely visit her on days or times that she does not want her family to come. It would be hard for her if she was trying to pay for school and having an apartment at the same time. Martha’s worst possible option would be the vacation. She would be using more
Yap 4 money and the moment of having a vacation at Hawaii would only last for a certain time period depending on how long of a stay she has in Hawaii. Since she is in Hawaii, she’ll be away from her family responsibilities in which everyone needs at some point of their life. Being affiliated with a family is stressing and if she takes a break from it, it can be rewarding. Staying away from school and homework stress is also rewarding as well, but only in a certain time. When she gets back to school, she will be all refreshed and ready to learn again. However, there are many disadvantages of going to Hawaii. Trying to find cheap fares is a struggle, as many other travelers willing to go to Hawaii. She is more likely to spend money at Hawaii for items such as gifts, clothing, and many more. Being away from school for a long period of time is such a struggle for Martha will miss out on all of the valuable lectures and homework. However, having her own place to live to where she can study alone would also be nice. Martha’s choice of deciding which option to pick affects her in life for she can regret it for not choosing the best and wise decision. She has to think more of what she can do later with the money rather than what she can do now with the money. If she really thinks what will pleasure her more now, she can be in deep trouble later in life. Martha Johnson wants to be successful in life and make a good and decent amount of money to live on and save. If she makes a bad decision now, later in life she may be ending up on the streets or in major debt, which is not good. It is hard to get out of debt but yet, easy to get into one. To conclude this, she is better off using her inheritance money on school.