Welcome to the 2009-2010 SMHS Savings Challenge

In the SMHS Savings Challenge, students compete to achieve their savings goals over the course of the school year. A+ financial coaches guide these students and help them learn life-long money management skills. This blog will feature posts by past and present contestants, A+ coaches, and others.

Meet the Applicants- Solana

Monday, September 28, 2009

Solana is a junior at San Marcos High School and has the goal of paying her parents back for some repairs that were needed to fix her car.

On the first day of school, she had a problem that ended up costing her $2000 to repair damage to her car. She didn't have the money to cover the costs, so she borrowed the money from her parents, and now has to pay it back. She wants to pay her parents back because they paid for the car, gas and insurance, but she doesn't feel they should pay for her mistakes.

She knows she will have to make some changes to accomplish this goal. She referees soccer and babysits and will put away more money towards paying her parents back. And instead of buying lunch at school, she will start to bring her lunch from home. Finally, she will cut back on spending on non-essential items.

By accomplishing this goal, it will teach her self-discipline and responsibility. It wills also give her a sense of pride and self-respect and motivate her to continue to save for other goals like a graduation trip and college.

By being a Challenge Finalist, she will develop important knowledge and skills to help her effectively manage her finances and establish a routine to regularly save to be ready for the unexpected.

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