Financial Hygiene Scholarship

Financial literacy is a subject that was not taught during my academic career. Unfortunately, many schools do not conduct financial management, especially in schools with predominately more minorities. It is as if being financially stable is an expectation that most people can not reach. However, I strive to combat the ignorance and bliss in my household and amongst my peers of organizing finances through school and everyday life education. The harsh reality of financial conflicts, college debt, and crazy tuition amounts did not hit me until I entered the gates of my undergraduate school, Spelman College. While studying at my institute, I have realized how crucial it is to be financially stable due to my struggles with affording certain meals when the campus dining closes too early or the Uber prices because I do not have a car. My college tuition is almost $50,000 yearly, so depending on my family to provide for all my financial needs is a stretch, especially since my college is practically ten hours away from home. For most, Spelman is unaffordable, and my parents can barely afford to send me to this academy. However, that cost could have been less of a burden or more inexpensive if my parents were aware of programs such as opening up a 529 or college funds. My mother and father come from immigrant backgrounds, and I am their first child, so they had little economic literacy aid and were unaware of how to sustain themselves financially. Nevertheless, my parents are not the only guardians who ought to be more knowledgeable about options to set up their children for academic success without worrying about the monetary expense. Many families struggle with the same subject, if not worse, and it stems from a lack of education in the economic and financial world. Feeling like a hindrance financially to my parents is not a pleasing sentiment. In the future, I would never want my child to feel worried about affording college; that is why preparing myself to be financially stable is essential. Though Spelman College is costly, providing opportunities to support its students is something they pride itself on. In saying so, Spelman delivers many possibilities to be financially aware, independent, and innovative. For example, they have established on-campus programs to educate students on investing stocks. I have participated, which has also enlightened me on how being shrewd about funds can take you very far. I have also surrounded myself with peers who have already been aware of financial literacy due to their awareness of opening certificates and investment accounts with their banks. I am inspired by those who take the endeavor to allow themselves to be a financial success, and I learn something new every time I engage in activities or with people who also desire monetary literacy. By understanding finances, I can provide for and help others directly and in the future. By the time I become an established adult, I hope that the education system will prioritize economic education to prevent unaffordability from arising. Financial literacy is crucial in understanding and adapting economic skills to succeed.