Dear Jimin, 

Please try writing something about saving money or how to use money wisely. Students and teachers could benefit! 

Sincerely, Ms. Loutsch

Hey, Ms. Loutsch! 

I want to give you wise advice because it truly helps people as you said. Actually, many of my friends struggle with money problems, resulting in endless scolding from their parents. Honestly, I used to have issues with saving, too. I am not an expert by any means, but let me tell you what I did about this problem. 

At my friend’s suggestion, I downloaded an app called ‘Toss’. I could make my own card and keep track of how I spent my money. First after a week, and then a month, the app reminded me of my transactions. I started thinking about whether I should save more and spend less, or do the opposite. That benefited me personally, because I kept getting notifications so I could monitor my spending habits.

Also, it may seem tough for people who procrastinate or struggle with organization, but this is so worth it for both students and adults: a great method is to write entries into a daily log or money diary. Since we need to use our savings wisely long into our future, I suggest making a habit of writing down plans on how we are going to spend and where you shop. Plan a budget and stick to it.

Before you whip out your credit card, please think again. Is this really necessary for you? If it is something you genuinely need, but seems too expensive, research a bit more on the internet and find a better deal. 

Finally, you could sleep on it for a night or two and decide later. You might change your mind. You don’t want to suffer from ‘buyer’s remorse’ – when you purchase something and regret it later.  Be skeptical and don’t act immediately on every urge to shop.

I wish all of us can get into the habit of saving money. It definitely pays dividends.

 

Sincerely, Jimin

 

P.S. I’m gonna get an A on the next English assignment, right Ms. Loutsch?!

If you have any questions for Jimin, email her at [email protected], and be sure to let her know whether she can use your name or you want to be anonymous.