New users enter your Member #

New users enter Touch-Tone Teller PIN

Winning 2019 Scholarship Essay!

Winning 2019 Scholarship Essay!

What do you think is the largest risk to financial health for teens and young adults today?  What steps should be taken to reduce this risk?

By Brayden Mumper

     Debt is something that many teens and young adults are facing. As young adults start to make the transition from high school to college,  they think that they have to take out loans of more than they need to be able to pay for college, which is not the case. There are many different opportunities to help pay for college that you can start in high school.
     Step One: Scholarships are the best way to pay for college. Scholarships are based on academic achievements one has accomplished while in high school. Many scholarships you will have to write an essay to apply for whichever scholarship you are applying for such as, Fremont Area Foundation, Local School, and GPA and SAT scholarships.  There are many different scholarships one could apply for. If you receive a scholarship, you do not have to pay the amount given to you, as it is an award to you. I have applied for as many scholarships as I possibly can: local, private, state and national wide. 
     Step Two: Working is another way one could save up for money and avoid debt. You will learn many skills while working at a young age such as establishing a work ethic, being disciplined, responsible and reliable. While working, you will be able to make a savings account at a local bank to start saving for college. This is an amazing way someone could become close with members at Gerber as you may have questions and concerns about managing your money. At age thirteen, I started as a dishwasher at a hometown restaurant River Stop Cafe. After working at the cafe, I got a job at our local Newaygo Brewing Company as a cook. I then moved to Little Caesars and worked there as a crew member. Since June of 2018, I have worked at McDonald’s.
     Step Three: Creating a financial plan is very important when exiting high school. With a financial plan you will figure out your goals, money situations, and how to building your security. Once you start working a budget is necessary to keep things organized. For example. I have made a plan on how much money goes into my savings for the future and I plan out the days I need to pay my bills. 
     My personal experience with my local Gerber Federal Credit Union has been absolutely amazing. I am one to always plan ahead, which makes this transition from high school to college an anxious time for me. I am one to get ahead of the game with my college applications, filling out my FAFSA and sitting down with a Gerber Federal member to manage my future loan’s with Gerber. After sitting down with the financial Service Representative Katie, I am more than confident about taking out loans in the future through Gerber. Katie listened to all of my questions. During our meeting she helped me by researching different opportunities that Gerber could offer to me. She provided me with paperwork to fill out with my parents to get a loan and a very helpful flyer about the benefits of credit cards. After my meeting with Katie I was even more confident about working with Gerber throughout my future. 
     With all of these steps, my drive, and planning skills, I hope to avoid the crushing debts that are plaguing the modern day of young adults.