short term financingBy: Elena Tayem

We would all would like to live in a world where we either had all the money we could ever need or where money doesn’t matter. Unfortunately, this is not the case. Instead, we live in a low-context society where time is money. While money can’t buy happiness as we all learned as a child, it can make life a lot less stressful and much easier. Sound appealing? Short-term financing of any kind can truly benefit a person’s life. In fact, it is something that I have been doing my whole life and this summer I am finally seeing it pay off.

I just recently decided to transfer universities.  I had been going to a public university in Florida but I was accepted to a prestigious and very well-known private school.  This school was my dream college since middle school; it has one of the best programs in the country for my major, it’s in a city where I would like to work someday and it’s only an hour away from home.  Making the choice to transfer should have been easy but when it came down to it, money was the main deciding factor. How much is it going to be out of pocket? Will I have to take out loans? It’s cheaper to live at home but do I want to commute an hour everyday? Will going to a better university ensure me a better job so I will pay off my loans faster? After month after month of talking and thinking it through, I decided, I’m going for the dream school. Why? Even though there is still a sum of money I will have to pay, I still have money saved up from short-term financing throughout my middle school and high school years to help that cost.

My parents told me that if I want (not need) anything, for example a car, a laptop, an I-phone, I would have to pay for it myself. Or if I wanted to go out with my friends to the movies or dinner, I would have to pay for it myself. They helped me to realize what in life was important to buy and what is not. I decided against having a car, cell phone or laptop until I got to college. And I still don’t have a car. Since I lived on campus at my last university, I simply didn’t need it. Why pay for something that is unnecessary? While I had some friends that would be going out to eat all the time, I would save my money buy going grocery shopping and buying things on sale. Of course from time to time I would splurge and go out shopping or the movies or to dinner with friends, but I would never want to see my savings gone to waste. It’s amazing to see how by short-term financing, you can save so much money. Instead of buying a $4 cup of coffee everyday, you could go to the grocery store and buy a month supply for $10. You would save $110 a month just by simply making coffee at home. Or instead of going to the movies and spending $20 on a ticket, a drink and popcorn, with the same amount you could have rented 13 movies at the $1 movie rental kiosk and bought coke and popcorn to last you a month.

There are so many little ways through short term financing that can benefit you and help you save a lot of money. By doing those things, you save up to splurge on things that really matter: vacations, traveling, colleges, buying a home. Because I learned from an early age to be a smart spender, I now am able to better afford my dream college. And what is more important to spend money on than an education?

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