National Payday Scholarship 2012 Official Entry SealBy: Jacob Virkler

Short-term financing of any kind can benefit a person’s life tremendously!  Short term financing is a demonstration of faith in a person and their ability to accomplish the goals they set.  It doesn’t matter if it’s a small amount of money or a huge sum, either one demands planning for successful repayment.  Short-term financing establishes a basis for endless possibilities which positively impacts a person’s life forever.

When someone lends a small amount of money for a short period of time, it is a gesture of faith.  I remember when I was much younger, in the First Grade.  I was good at making paper airplanes.  My friends were always asking me to make planes for them, so I asked my Mom to lend me $5 to buy paper to make planes for my friends.  She agreed to lend me the money, but wanted me to pay her back by the end of the month.  I had big plans to earn money for myself.  I wanted to buy important things like candy bars and bubble gum.  I had to pay my Mom back first, so I was motivated to save the first $5 I made before I bought what I wanted.  It kind of felt like I had to work for nothing at first, but I wouldn’t have had anything at all if she didn’t lend me the money first.  I loved that she believed in me!  She was giving me a chance to tryout an idea that I had.  Her gesture of faith in me was more valuable than all the candy in the world.

She’s my Mom and Moms are Moms, they give everything they have all the time.  She could have just given me the money, but she didn’t.  Instead, she gave me an experience with short-term financing that was worth way more than $5.  If my Mom didn’t want me to pay her back I don’t think I would have done as well as I did especially since I only had a month to pay her back.  To be successful, especially with only a month to work with, it was essential to plan a path to success.  I had to figure out a selling price and calculate how many I needed to sell at each price to make sure I could pay Mom back on time.  If I had a longer term to pay back, I may not have worked as hard as I did and now I know I can work that hard.

The short-term financing experience I had when I was a First Grader was a beginning to many future opportunities because of what I learned for $5.  I made enough money to pay Mom back and buy all the candy bars and bubble gum I wanted.  Candy never tasted so good either, earning it by myself made it extra sweet.  I learned how to plan.  Planning is so important though out life, I had to think of a realistic plan to reach the goal of paying my Mom back.  I had to use quite a bit of math which I was just learning.  Learning math was more important to me because I needed to be accurate, gum was on the line.  Most important, I began a life-long feeling of self-esteem and optimism within myself.  I found out that I could earn my own way at a young age.  I remember feeling like I was the President of an aviation company the way other kids would come to me and buy my paper airplanes.  I found something I liked doing that I was good at and because of my Mom’s willingness to extend some short-term financing my way, I was someone important not just a kid with talent and good ideas.  I’m an even better kid with bigger dreams and great ideas today, but I’m going to have to make a lot of paper airplanes to earn enough to go to college!

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