week 5 RM discussion

This discussion will examine your understanding of how decision-making impacts your future financial standing. Consider the following scenario for your discussion response:

• Your good friend Kyle would like to go back to school to complete a bachelor’s degree in Early Childhood Education so that he can fulfill his dreams of teaching 2nd grade. Years ago he started college, but work and life responsibilities got in the way of him finishing. He knows that you recently enrolled at Ashford University and wants to ask your advice as he plans his next move.

Reflect: Consider how each decision you make today will affect your financial future. The choice to borrow money will mean you need to repay it at some point. The ability to save money each month can help you plan for the future. These daily decisions can affect your finances and ultimate freedom to make decisions in the future positively or negatively, such as your ability to buy a home or to purchase a new vehicle. The last two modules of the textbook provide you with the knowledge to make informed financial decisions that can help you support your future (SMART) goals.

Write: For this discussion, address the following prompts:

• Identify at least two pieces of useful information about student loans that Kyle should know to ensure he borrows responsibly.
• Kyle tells you that he wants to borrow the maximum amount of available loan money to buy his kids new shoes and go on a vacation to Hawaii. Describe at least two repercussions of poor financial planning and taking out more loan money for school than needed.
• Over the past 5 weeks, you have learned the significance of using digital tools to support your needs and goals as a responsible digital citizen. Take a moment and visit the website Financial Calculators: http://www.financialcalculators.com/. Pick one financial tool and share how it could benefit you either as a student, professional, or personally.

Your initial post should be at least 250 words in length.