Sinking My Teeth into Saving: Finance Skills I Learned to Secure a Debt-Free Future
Since my middle school days of wearing dental braces, I’ve been set on pursuing a career in dentistry. With each follow-up appointment, I became more fascinated with the doctors’ precision and technical expertise. What I observed seemed like satisfying work that could provide me with a stable income. My mother’s cousin is also a dentist who owns and operates a clinic, and seeing her success only adds to my enthusiasm for getting my dental degree.
While I’m thrilled to finish high school soon and start college, I’m also anxious to live on my own for the first time. I know it will be a big adjustment, but with the support, inspiration, and encouragement from my parents and siblings, I know I’ve got what it takes to succeed.
A College Dream Built on My Family’s Legacy
My parents understand the importance of education firsthand. While my dad graduated from high school, my mother dropped out during her freshman year. Both missed out on opportunities that a college degree could have afforded them. They worked tirelessly to provide a different path for my brother, three sisters, and me. My mom especially pushed us to excel academically and pursue higher education.
Years later, I’m happy to say their mission was accomplished. My brother is a mechanical engineer. My sister, who recently graduated college with a double major in psychology and neurobiology, is starting a physician assistant program. Another one of my sisters has a degree in neurobiology and works at a hospital tracking neural activity during surgeries, and my remaining sister also graduated with a healthcare-related degree. However, what’s most exciting is that after putting our needs before her own for so many years, my mother finally earned her GED and is on her way to earning her associate’s degree.
I’m proud to follow in their footsteps, and I appreciate what I’ve learned from their experiences. My sisters went to college debt-free while my brother had to take out student loans. The burden of those loans weighed heavily on him after graduation. I heard over and over again how expensive college could be and was determined to avoid being in a financial pickle when it was my turn to go. Thankfully, my Boys & Girls Club provided me with the guidance and forward-thinking to do just that.
Becoming Financially Savvy at My Boys & Girls Club
One of the major draws of joining Boys & Girls Clubs of Greater Milwaukee was watching the support my sisters received to follow their college aspirations. Since becoming a Club member as a high school freshman, I’ve learned so much about financing my college education. At the Club, I discovered scholarship opportunities and participated in the Money Matters: Make It Count program, presented by Charles Schwab Foundation in partnership with Boys & Girls Clubs of America.
Money Matters helped me understand the costs of basic necessities like groceries, learn to monitor my spending, and practice the 50/30/20 rule of budgeting. One of the biggest challenges teens face is spending money on things we want but don’t necessarily need. I’ve seen my friends burn through their paychecks — living in the moment instead of considering the long term. Following the 50/30/20 rule taught me to allocate 50% of my income for spending, 30% for wants, and 20% for savings and investments.
I also learned about the importance of building good credit and keeping track of my credit score. With these money management skills, I’m confident that I’ll be financially savvy for years to come.
When I became the 2024 National Money Matters Ambassador for Charles Schwab Foundation and Boys & Girls Clubs of America, I was beyond excited to receive $5,000 to support my college education. I was also thrilled to pass on the skills I’d learned to help more teens grow their financial literacy.
Practicing how to budget — as well as prioritizing savings goals — are skills all young people need to be financially secure. After all, saving up while still in high school is a smart move! With typically fewer expenses at this stage in our lives, we can set ourselves up for future costs and investments.
On My Way Towards a Debt-Free Education
As a senior in high school, I’ve set a personal challenge to apply for a minimum of two college scholarships every month. I am always on the lookout for new ways to fund my college education. Next year, I intend to major in neurobiology and follow the pre-dental track at the University of Wisconsin-Madison.
My ultimate mission? Earn my bachelor’s degree and graduate with zero debt! With my loved ones and my Boys & Girls Club behind me, I have no doubt that I’ll crush this goal and add on to my family’s legacy.
Since 2004, Charles Schwab Foundation has helped millions of Boys & Girls Club youth gain critical money management skills like budgeting, saving and good decision-making through Money Matters: Make It Count, a financial education program delivered through Boys & Girls Clubs of America. Money Matters prepares young people to select a career, manage benefits and earnings, and be supportive of family without the distraction of potential financial stressors. The Money Matters Ambassador program has also awarded over 336 college scholarships totaling more than $700,000 to Money Matters program youth participants. Money Matters: Make It Count is available to more than 5,400 Boys & Girls Clubs across the nation. Contact a Boys & Girls Club near you to learn more and get involved.
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