Managing Finances for a Better Future Essay Example for Free

Managing Finances for a Better Future EssayIn American society, we are encouraged to save money for a better future. However, in my life I gestate encountered worrys with managing my individualised finances. In the past, I spent my money irresponsibly. Despite making a meet salary, it was a challenge trying to maintain my financial responsibilities and not something I was very concerned ab by. I felt as though I was living paycheck to paycheck, when the reality was I simply did a poor job of managing my funds. Now that I invite grown up and have a son, my expenses have increased tremendously.Although he is my biggest joy, having to take care of him has worsened my inability to manage and save money properly. When I should be saving money for his college education, instead I spent $500 on toys for Christmas. Therefore, learning how to in effect manage my finances is vitally important in order to secure a healthy and recognize future for myself and my son. Information to Res olve My Daily Problem As I consider how to resolve my never-ending chore of saving money, I have identified these information sources as possible resources1.I would lend oneself my 401(k) investment catalog to discover more information about how to invest money into different stocks and bonds. 2. I would contact Diana Marrero-Pinto, Director of Housing at the Lorain County Community Action Agency, Inc. to register for the Budgeting Bootcamp seminar. 3. I would search the mesh for true(p) resources on how to save money in a bad economy. I would look for such resources in the following manner. I would contact my 401(k) representative to schedule a meeting to discuss my billhook and possible investments.I would contact Diana Marrero-Pinto to discuss the Budgeting Bootcamp seminar and other training opportunities. I would visit the University of Phoenix subroutine library for articles and book excerpts on budgeting and saving money. Process for Evaluating My Resources In order t o rate the information that I would encounter to resolve my problem, I would consider the source of that information. If I am interviewing professionals, I would ensure that they have a background in finance or experience working with people on how to manage their personal finances.If I am looking at Internet resources, I would be cautious nreliable websites that contain non-factual information. I believe, the Wall Street Journal website has reliable information since it is a nationally renowned newspaper in the United States. Another really reliable resource would be the University of Phoenix Library, because college officials ensure the information is reliable for students. The articles and books available on the University of Phoenix Library allow thousands of students to feel confident about the reliability and the true of the resources retrieved from the website. Ways to Use This Information to Resolve the ProblemThe process of problem-solving includes the ability to utilize self-knowledge to figure out solutions to a problem (Carter, Bishop, Kravits, 2007). I believe there are four stages in problem-solving analyzing, synthesizing, applying, and evaluating. First, analyze the problem or issue by identifying the possible causes for why the problem occurred. Next, synthesize all the data that explains the problem and brainstorm possible solutions. According to Carter, Bishop, and Kravits (2007), When you are brainstorming ideas, dont get hooked on finding the one right answer.Questions may have many right answers- or many answers that have degrees for usefulness (para. 52). From these possible solutions create a plan of action, outlining important goals with timeframes for completion. Once the goals and timeframes are established, I leave alone begin to apply the goals set forth in order to solve my problem. Later, I will evaluate the process it took to solve my problem, and decide if the process was dependable. This will help me to make better decisi ons in the future.