19 Year old wishes she learned more in school

The article below about a 19 year old Plymouth resident who wishes she learned more about money management in school demonstrates the need for financial education. You can also read part two at tangentlife.com

Jasmine Millwood: Lessons Learned about the Cost of Living … Part I
Written by Deb Madonna
Thursday, 10 January 2008

I cleaned out my car yesterday and my uncle happened to notice several empty Starbucks cups and high-amount receipts from Target. I continue to vacuum and such when he shakes his head and walks inside.

In confusion I say, "What was that about?" He says, "Yes you seem like a really broke college student who eats nothing but ramen noodles," in a low voice dripping with sarcasm. I thought to myself, he is right.
What am I going to do when I move out? I should start saving, big time. Because little did I know, the real world is a lot more expensive than I thought.
You always hear the jokes about how parents start saving for their children's college funds when they learn they are pregnant. But in reality, it's much more complex than that. My dear cousin bought me this book for Christmas, "The Young, the Fabulous and the Broke." This is what I should be. Instead I'm wearing the latest fashions from Twelve Oaks and splurging and Max N' Erma's Once a week with my friends. Although I work three jobs, some large percentage of my paychecks should be directly deposited into my savings account for the grueling days of unemployment and never ending study sessions.
You could take a random survey in the high school and ask the students all about credit and checking accounts, interest and APR. You could ask, but probably not receive any answers. Thinking back to my high school years, which weren’t so long ago, I think how my perspective on money and finances was so miniscule and narrow-minded. Obviously, my uncle was the source of most of my monetary needs however I did start working a part-time job at the youngest age possible, fourteen years and nine months old. With a workers permit from my school's counseling office in hand and a big gleaming smile I set off into the crazy world of long hours, that glorious payday and the grueling taxation you can never escape from.
I am thankful for my early working experiences, I learned so many things about the professional world; commitment, responsibility, punctuality and employee expectations. My uncle always made it clear that school was above work, because without school you good work is hard to come by in this world. I started a savings account and adding some of my paycheck every week. I got my first debit card when I turned 16 and became open to a whole different animal. I learned about NSF fees and available balance.
Although I have gratitude towards my past monetary experiences I wish someone would have sat me down at that perfect age where I could begin to comprehend how important good credit is. I wish I could have learned more in depth about interest rates, budgeting and everything else for that matter. I unfortunately learned the hard (and extremely expensive) way.
In my opinion my generation, due to the easy access to pretty much everything, is very impulsive. Too impulsive. We want something, we go get it.
If I could lend advice to my fellow young students and friends about money, I'd give you four pieces of advice.
1) Never, EVER lend anyone money. You might as well wrap it up and put a big bow on it as you give it away, you'll never see it again.
2) Credit cards are for emergencies and essentials only, not splurging. Examples: Gas, oil change, groceries. Not examples: Twelve Oaks shopping spree, Max n Erma’s once a week.
3) Make sure you know what an available balance is: the money that is ACTUALLY in your checking account. Keep a checkbook if you need to!
4) Save, save save. It is the best thing you can do. Keep saving. You can never have too much in your savings account.
College is not cheap, one must realize. To complete my career aspirations, I have about $66,000 more to fork over to my institution of choice for my remaining baccalaureate and the final stretch through dental school. College costs rise more and more each year. This year, average college costs have risen 6.6% than that of last years alone. How's that for some apples?
And don’t forget your studious hard-working pupil needs transportation, car insurance, a cell phone, health insurance. Sit in math class for a minute and crunch those numbers. I don’t know how my uncle does it.