First in Business Foundation Scholarship

I learned about the concept of money from a young age. I remember being a four-year-old already learning about the importance of saving money and how “a penny saved is a penny earned.” My mother would teach me to look on the streets for coins dropped on the floor and start saving them (a habit I still hold to this day). I was always interested in money, but I didn’t know I wanted to pursue a career in a business-related field until I was eleven. The first time I watched the business channel, I was captivated by rapid price changes, switching between red and green like Christmas lights. While I had no understanding of the stock market at the age of eleven, I desperately needed to know what it all meant. From that point on, I knew my goal would be to major in business. Success has different definitions for every individual. Most commonly, people view success as being wealthy. As a business enthusiast, I understand the importance of money. Having money is important professionally and even personally, but in my opinion, I don’t think I will be considered successful just if I become wealthy in the future. I see a successful person finding something they are truly passionate about and putting as much effort and dedication into that passion as possible, not solely for money, but for their happiness. A successful person has a job or a hobby that they can dedicate themselves to that gives them fulfillment. My passion is analyzing and learning about the economy. The economy has patterns it repeats throughout history, and yet at times, it can feel completely unpredictable. I find joy in analyzing and predicting price movements. I believe that I will be successful when I graduate from university and have a successful career as an economic analyst. When that happens, I can look back on my life and be proud of how far I’ve come. Going from humble beginnings to then having the luxury to pursue my passion. That is success. I come from a low-income family, so I’ve seen first-hand how my parents had to learn how to manage money themselves without prior knowledge from their school or their parents. My parents had to learn to budget their money and avoid debt through trial and error. While they’ve taught me all they know about managing money, I’ve noticed how many resources I still lack compared to people my age that come from high-income and higher-middle-class families. I had the opportunity to talk to people from different backgrounds recently at a scholar reception brunch at a university. These people had parents who were doctors and lawyers and were given better financial advice and resources to succeed financially as adults. They were the same age as me and had the same educational goals as me, and yet they had a head start. Fortunately, I have the motivation to learn about personal finance and succeed. When I graduate, I plan to extend my knowledge to low-income communities. If given the right resources, people currently struggling financially can learn proper spending habits and investing. I find it vital that low-income communities get greater attention and more opportunities. People shouldn’t have a disadvantage because of their background. They should have every chance to become successful. One penny can only take a person so far.