Final Week 5 Final Paper

Submitted By Doodee
Words: 994
Pages: 4

Young Adults require specific skills to navigate today’s complex society successfully, but many daily living skills are now never taught to them as they growing up. Parents or other involved adults may teach these skills directly or by example. It is important to promote life skills that are tailored to students’ developmental needs. Some responsibilities young adults will incur while making the transition from adolescent young adult is self-maintenance, education planning, money management, budgeting , communication skills and problem -solving skills. These skills should have positive impact on a youth’s self-sufficiency and self-esteem, in addition to the practical advantages he or she will incur in adulthood. Knowing how to solve problems and cope with them starts with defining the problem, generate alternative solutions, choose the best solutions, make a plan, execute it and evaluate the outcome. Some recommendations of how to make good choices when it come to financial responsibilities for young adults would be helping them write out a monthly budget that is based on income and expense. Help them contemplate unexpected expenses like lost items or things that need to be repaired. Encouraging them to set aside an emergency fund for these unforeseen events. By setting up a personal saving account at the bank for long -term account for him or her to manage. Explain how interest and investing works. Making sure young adults knows that parents, teachers, and youth directors or counselors are available to answer any financial questions. Entrusting young adults how with opportunities to spend and save money allow them to learn while under parental guidance and protection. My overall objective is to present to youth how to be responsible through different methods such as budgeting, balancing checkbooks and even while day are shopping . Having these skills of balancing a checkbook will give them a clear sense of not only how much money is in their account , but where the money goes. This method can help prevent them from bouncing checks, sticking to a budget help avoid fees, and detect errors from their bank or even fraudulent billing. Young adults need to know that their money is a huge part of their life. It can determine what you can do and where you can go. Learning how to manage your money the right way is an important step toward taking control or your life. Young adults should also understand where your money is coming from as well as where it is going, and how to make sure the way you manage your money falls in line with the values that matter most to them. The first power point I will introduce to them is knowing what a checking account is. A checking account is a type of bank account that is typically used to keep and manage money that you plan on spending regularly. Unlike a saving account, funds are moved in and out of checking account on a regular basis. Opening a checking account allows you to make purchases and pay bills without having to carry any actual cash on you. It also gives you an account where your paychecks can be deposited regularly. A checking account will offer you services that will allow you to use and spend your money at your convenience. Balancing a checkbook will help them keep track of their money and verifies the information they have tracked is accurate and catches any mistakes your bank might make. Young Adults need to also know that establishing a budget and sticking to it isn’t easy. But it’s the best way to be in control of your finances. Learning how to use credit cards wisely is also an important power point in my objective this will help them advance in today society. It is easy to get a credit card, managing a credit card is not as easy. I want young adults to know and understand that anytime you use a credit card, you are borrowing money and if you don’t