Let’s talk about Denmark

Let’s talk about Denmark
Becca Rentz

We’ve heard enough about COVID-19, the presidential race, and student loans (seriously y’all). So, allow me to take you to a happier place: one of windmills, bicycles, and, according to Pitch Perfect 2, the Acapella World Finals. You (maybe incorrectly) guessed it: Denmark.

If you know anything about world economies, when you hear the word socialism, you probably think of Scandinavia. You know, northern Europe where all the vikings were. For the sake of brevity, I’m only going to talk about Denmark, since it’s without a doubt the coolest country out of the three.

Are taxes really ridiculously high there? Does the government play too big of a role? Is their healthcare system a mess? Are there still vikings?

But first, here’s a video to introduce you to Denmark's economy. Or, if you think the first video will bore you out of your skull, here’s one just showing how pretty Denmark is. Or here’s another just talking about vikings. We both know you have a lot of time on your hands right now.

Here are some quick stats...

• GDP: $326 billion in 2018
• GDP per capita: $56,300
• Inflation: 1.1%
• Public debt: 35% of GDP
• For context, the US’s debt-to-GDP ratio in 2017 was 105.4%.
• #7 on Forbes’s list of Best Countries for Business (US ranks #17)
• Unemployment: 5.7%

Just based on those statistics alone, Denmark’s economy seems to be a pretty solid one. But what about taxes? Their highest tier of personal income tax rates in 2018 was 55.8%, according to Trading Economics. Their corporate tax rate was 22%. Moreso, Denmark’s tax system is a progressive one: if you make more, your tax rate is higher. To most of us, having grown up in the United States where the vast majority of the population vehemently despises tax raises, this seems like pure insanity. However, most Danes don’t see it that way: they see taxes as a trade off between income and quality of life. According to U.S. News, “The reason behind the high level of support for the welfare state in Denmark is the awareness of the fact that the welfare model turns our collective wealth into well-being. We are not paying taxes. We are investing in our society. We are purchasing quality of life.”

Quality of life isn’t fully captured in statistics, so here’s some information about Denmark that’s less directly related to economics (yes, Mrs. Straub, I understand that everything is related to econ, just let me have this). Education isn’t just affordable, it’s free, even medical school! On top of that, students receive roughly $900/month from the government to help subsidize their education (to cover things besides tuition, like rent, books, etc). Denmark has some of the most generous policies in the world when it comes to parental leave: up to 52 weeks over the course of a child’s first nine years of life, the bulk of which is given right after they’re born. Workers also receive five weeks of vacation time and 11 paid holidays (compare that to the US...). They also receive what is commonly referred to as “free quality healthcare.” What does that mean?

There are few issues in the US as controversial as healthcare. Even people of the same political party often have difficulty agreeing. Meanwhile in Denmark... according to The Commonwealth Fund, “Publicly financed health care covers all primary, specialist, hospital, and preventive care, as well as mental health and long-term care services. Dental services are fully covered for children under age 18. Outpatient prescription drugs, adult dental care, physiotherapy, and optometry services are subsidized.” Out of pocket healthcare spending per capita in 2018 was $671. Meanwhile, the US’s was $1,125 in 2017. As for satisfaction, Denmark seems to be succeeding there as well. “The Danish health care system is popular, with patient satisfaction much higher than in our country.  In Denmark, every citizen can choose a doctor in their area. Prescription drugs are inexpensive and free for those under 18 years of age. Interestingly, despite their universal coverage, the Danish health care system is far more cost-effective than ours. They spend about 11 percent of their GDP on health care. We spend almost 18 percent.” (Huffpost)

Overall, Forbes sums it up quite well, “Danes enjoy a high standard of living, and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income.” Equal opportunity is prioritized, exemplified by their parental leave and education policies. As Huffpost remarked, “While it is difficult to become very rich in Denmark, no one is allowed to be poor.”

But before you start packing your bags to move to the haven Denmark seems to be (once travel bans are lifted, of course), keep in mind just how different the United States and Denmark are, in size, demographics, and history. “As Ambassador Taksoe-Jensen explained, the Danish social model did not develop overnight.  It has evolved over many decades and, in general, has the political support of all parties across the political spectrum.  One of the reasons for that may be that the Danes are, politically and economically, a very engaged and informed people.  In their last election, which lasted all of three weeks and had no TV ads, 89 percent of Danes voted.” (Huffpost) Denmark is in many ways the polar opposite of the United States.

Don’t attack me in the comments saying socialism is wrong and Denmark has it all backwards, but there’s certainly a lot about their system that makes for good discussion.

Works Cited

“Denmark Personal Income Tax Rate.” Trading Economics, 2018, tradingeconomics.com/denmark/personal-income-tax-rate.

“Denmark.” Forbes, Forbes Magazine, Dec. 2018, www.forbes.com/places/denmark/.

“Out-of-Pocket Spending.” Peterson-Kaiser Health System Tracker, Peterson Center on Healthcare, www.healthsystemtracker.org/indicator/access-affordability/out-of-pocket-spending/.

Sanders, Bernie. “What Can We Learn From Denmark?” HuffPost, Verizon Media, 26 July 2013, www.huffpost.com/entry/what-can-we-learn-from-de_b_3339736?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJhGrXDPb4LDNraEcOriI0ECl3ajr6j3oQusEKPEY7g7EMTMu5Il3yjZnkERUFmCYSniJSN4cFyKUyO8HNjvqx8gRUC2SRwaCOx9h_U_5_DG_Hr04iHheMmujXDO7AxuLeAwKrDlrnAlleCsM_ywczWX69WKavJ_dku9a_TNACFP.

Wiking, Meik. “Why Danes Happily Pay High Rates of Taxes.” U.S. News, U.S. News & World Report, 20 Jan. 2016, www.usnews.com/news/best-countries/articles/2016-01-20/why-danes-happily-pay-high-rates-of-taxes.

How to Save for the Real World While in College

How to Save for the Real World While in College

Written by: AJ B.

Saving money while in college is something that can be a little challenging. As we exit college, we enter the real world, and in the real world there are a lot of costs. Rent, bills, paying off student loans, buying cars, and the list continues. Although it may seem hard to save money while in college, there are a few ways to save little amounts of money at a time.

There are a few ways to begin saving money while in college. According to an article from Affordable Colleges, a few quick tips to save some money when starting college and moving through college is to buy used textbooks (if possible), pay attention and use student discounts and places that offer it, and take care of a credit card while in college. College students are targeted for credit cards when entering college, because money is not easily accessible when in school. If it is absolutely necessary to use a credit card in college, apply for credit cards that have limited fees and low interest rates. These few things to do while in college can save you some money while starting college.

Another one of the biggest ways to save money while in college is splitting the money into different categories. Most college students have jobs while in school in order to pay for going out with friends, extra groceries, and extra shopping. By getting a job in college, it is one of the best ways to save money. While practicing for the future, it is best to take the paychecks from the jobs in college and split the money and put it towards different things. Putting a chunk of the paycheck in a savings account and saving it for the future will allow you to have some money put away for when you graduate college, but it is also important to have a balance. It is not necessary to put half of your college job paychecks away in savings because you still need a balance of school, hanging out with friends, and saving for after college, but by even putting 10% - 15% of a paycheck away into savings can help you save up.

By developing some of these saving habits, and by reducing on some extra spending in your everyday life, you will be able to save for your future. According to an article from Forbes, by incorporating even a few of the savings habits while in college, you can save roughly $100 a month! Having an extra $1,200 at the end of the year can help pay for things once you leave college as we enter the “Real World”.

Works Cited

McGrath, Maggie. “The 10 Habits You Develop In College That Will Save You Money In The Real World.” Forbes, Forbes Magazine, 30 July 2014, www.forbes.com/sites/maggiemcgrath/2014/06/13/the-10-habits-you-develop-in-college-that-will-save-you-money-in-the-real-world/#13b6a7203967.

O'Connell, Brian. “31 Ways to Save Money in College.” TheStreet, 4 Sept. 2018, www.thestreet.com/how-to/save-money-in-college-14698022.

Writers, Staff. “Budgeting for College Students: Money Tips to Keep College Affordable.” AffordableCollegesOnline.org, AffordableCollegesOnline.org, 20 Mar. 2020, www.affordablecollegesonline.org/college-resource-center/student-guide-to-budgeting/.

College Athletes should get paid

College Athletes should get paid   

Written by: Braden Servais

One of the biggest debated topics in sports is “Should college athletes get paid”. A Big part of the college game is replica jerseys, sometimes the price ranges from $65-70. Wouldn't it be more fun and realistic to have an actual name for that jersey? 

College athletes should get paid because they put their bodies on the line each game there should be an award for that and when they are in competition they do not have time to get a job to make money. Another reason why they should get paid is because it would help create financial awareness within the student athlete many of these athletes develop poor spending habits and this would give them a chance to learn those things.  Also within there team they could learn on the side how to spend there money better. A reason why college athletes are not getting paid is because recruiting would not exist it would all be about the money just like it is in professional sports. But I think they need to get paid because the time commitment with athletics and school there is not much time to get a job. The final reason why students athletes should get paid is it provides incentive for athletes to play  some athletes do not want to play college athletics because it is time consuming and this would also get more people to play. and they do not get an award for playing. 

  Works Cited

. “14 Should College Athletes Be Paid Pros and Cons.” Vittana.org, vittana.org/14-should-college-athletes-be-paid-pros-and-cons.

Patterson, Tiffany. “Should College Athletes Be Paid?” SmartAsset, SmartAsset, 29 May 2019, smartasset.com/retirement/should-student-athletes-be-paid.

Is the Corona Virus leading us into an economic recession?

Is the Corona Virus leading us into an economic recession?
Written by: Hailey Boelter-Eberhardt

As many have heard, the growing pandemic of the corona virus is causing many countries to either lockdown or shut down entirely, to help cease the increasing numbers of those infected. These shutdowns are causing a whirlwind of economic and social concerns. For many teenagers, it is causing a disruption in school life, work life, and overall social life, as the CDC is stating the need for social distancing. With this social distancing, it is best that all stay in their homes and only to go out when it is absolutely necessary. Along with that, setting standards of how far apart you should be from one another, how many should be in a space at a time, etc to lessen the curve of those infected. Many seem to not be taking this as serious as the government is intailing, but this pandemic isn’t only affecting the world health-wise and social-wise, but many economic concerns. A huge one being, as many businesses shut down, the unemployment rate skyrockets.

The United States, before this entire pandemic, had an unemployment rate of under 4%, holding this low number for about 2 years. According to USnews, President Trump’s administration warns those that the unemployment rate could reach 20%. This seems unheard of, but if you look into how many businesses around you are closing. There are many working from home, however some don’t have that luxury. This could include restaurant waiters, servers, cooks, department stores, malls, movie theaters workers, hotel workers, etc. These workers are not getting paid, as they cannot work, physically. According to the Washington Post, Pebblebrook Hotel Union laid off 4,000 people, alone.  This surge of unemployment is causing many, who are jobless to file for unemployment benefits. This number, according to the Washington Post, has reached 281,000 people and counting has filed. That is up 33% compared to previous weeks.

However, the United States government and state governments are composing and implementing plans to expand the unemployment benefits to help those unemployed due to the coronavirus, still be able to have the necessities they need to go on in life, with this new lifestyle.
Donald Trump has signed a $100 billion law to the coronavirus relief package. This package gives free testing, expanded pay, and unemployment insurance to those impacted by the coronavirus. According to CNBC, states are being given more flexibility in their unemployment standards to those who meet these requirements, causing it to be more open to those impacted by the pandemic.

Overall, the entire world is in a state of panic and uncertainty. Our lives have been flipped into something we never thought would occur. Everything seems to be falling apart at the seams. Not only is our health in question, but the entire economic system is in question. While businesses continue to close,  the unemployment rate continues to increase steadily. There are many plans in place to help those unemployed, however with businesses closing, the economy is continuing to decrease. The United States is based on its economy being strong and with many not having the money or ability to go out spending, the economy going into a recession, but the bigger concern is when we get out of this pandemic, are we going to be able to get back into the groove or society, but most importantly, the economic growth we once had.

Works Cited

Bhattarai, Abha, and Heather Long. “As Layoffs Skyrocket, the Holes in America's Safety Net Are Becoming Apparent.” The Washington Post, WP Company, 19 Mar. 2020, www.washingtonpost.com/business/2020/03/19/unemployment-insurance-today-coronavirus/.

Caldwell, Leigh Ann, and Rebecca Shabad. “Coronavirus: Trump Administration Warns of 20 Percent Unemployment Rate.” NBCNews.com, NBCUniversal News Group, 18 Mar. 2020, www.nbcnews.com/politics/congress/coronavirus-trump-administration-warns-20-percent-unemployment-rate-n1162601.

Liu, Jennifer. “How States Are Expanding Unemployment Eligibility to Include More People Impacted by Coronavirus.” CNBC, CNBC, 20 Mar. 2020, www.cnbc.com/2020/03/20/coronavirus-pandemic-some-states-are-making-more-people-eligible-for-unemployment.html.

“United States Unemployment Rate1948-2020 Data: 2021-2022 Forecast: Calendar.” United States Unemployment Rate | 1948-2020 Data | 2021-2022 Forecast | Calendar, tradingeconomics.com/united-states/unemployment-rate.

Privilege

Written by: Ryan Steffen

I am privileged. I would be ignorant to not admit that as someone who is able to afford to live in an area like Pewaukee. There are so many aspects to privilege beyond socioeconomics but I would like to take a moment to talk about a harder conversation related to paying for college. To be honest, many of us are privileged. Oftentimes, people pick where they want to go and then figure out the finances second, but it is crucial to understand that is not an option for everyone. As most people know, college is expensive, and even to afford in-state, you are paying between 15 and 25 thousand dollars a year. The government only allows up to $5500 in loans so as a student your first year, so you are still responsible for coming up with at least 10 thousand dollars. Most students take this out as a private loan, but if your parents don’t have the credit to take out a loan like that, college almost isn’t an option.

Another thing that people are often told is to go get a job or pull themselves up by their bootstraps if they cannot afford something. According to Dr. King, “It’s all right to tell a man to lift himself by his own bootstraps, but it is cruel jest to say to a bootless man that he ought to lift himself by his own bootstraps.” While doing something like getting a job might provide some income, that normally only serves from paycheck to paycheck giving the person no ability to save. That is part of the reason we must differentiate wealth and income. Income is the money you make while wealth is the value of all your assets. Some of the wealthiest people in the world live off the interest of their wealth and so they’re wealth never decreases. Most people don’t fit into this category but it is important that as most of us make these college decisions, we are cognizant of the situations other people are in.

https://www.collegefactual.com/colleges/university-of-wisconsin-madison/paying-for-college/

https://www.moneycrashers.com/wealth-and-income-difference/

How Does Covet-19 Affect The Economy?

How Does Covet-19 Affect The Economy? 

Written by: BJ Yost

If you have been up to date with news you know that the Covet-19 virus or Corona virus is the big news and it’s putting many businesses out of work and it is taking our schooling away. We’ve been out of school for almost 2 weeks now and it’s not fun. Plus many people aren’t allowed to leave their house. When you go to the store many things aren’t stocked up. For example, when you go to the store and try and look for toilet paper there is none because of this virus. People are scared about going on a lockdown and they need these things to be able to last. That is why there's a shortage of a lot of foods and things we need in our everyday life. 

Coronaviruses are a family of viruses that cause disease in animals. Seven, including the new virus, have made the jump to humans, but most just cause cold like-systems. This virus is an airborne one so that is why you might see people walking around with things over their faces to make sure they don’t breathe that air in and catch this virus. This virus is nothing to joke about but if you look at the graph you’ll see the death rate of the different age groups. As you can see that if you are older you are more likely to die. Worldwide there have been around 19,000 deaths. But there have been around 423,000 cases worldwide 

Traveling has been canceled from lots of people if not all, many peoples trips have been canceled due to this virus leaving many hotels and tourist attractions out of business. Around 4 million hotel jobs have been lost. According to axios.com “Some 45% of all hotel jobs have been eliminated or will be eliminated in the next few weeks, says the American Hotel and Lodging Association. Current forecasts of a 30% drop in hotel occupancy over a full year would result in the loss of nearly 4 million hotel jobs, from general managers to housekeepers.” Many people in the hotel industry are being affected but there are many others.

This is not only the economy but in the income that big names are getting. The NBA is suspended, the NCAA tournament is cancelled, parades and big events are being postponed or canceled. For example, summerfest was in Late June early July and it now got moved to early September. Many people that were even trying to go somewhere and see family can’t do that anymore. Another great example of people losing money is this “Last weekend, Ms. Masching, a broker with Redfin in Silicon Valley, got three offers on a $1.2 million home she had listed in Mountain View. But by Monday, two people had rescinded their offers and the third tried to back out.” Ms. Masching is out of money and not able to work her job like millions of others in the United States and in the world. Not only is this going to ruin our economy but this is a disaster that we need to fix. 

Works Cited

Casselman, Ben, et al. “Coronavirus Cost to Businesses and Workers: 'It Has All Gone to Hell'.” The New York Times, The New York Times, 15 Mar. 2020, www.nytimes.com/2020/03/15/business/economy/coronavirus-economy-impact.html.

“Coronavirus Cases:” Worldometer, www.worldometers.info/coronavirus/.

Drum, Kevin. “Bern Researchers Produce New Coronavirus Fatality Estimate.” Mother Jones, 7 Mar. 2020, www.motherjones.com/kevin-drum/2020/03/bern-researchers-produce-new-coronavirus-fatality-estimate/.

Gulland, Sarah Newey; Anne. “What Is Coronavirus, How Did It Start and Could the Outbreak Grow Bigger?” The Telegraph, Telegraph Media Group, 25 Mar. 2020, www.telegraph.co.uk/news/2020/03/25/what-coronavirus-covid-19-start-grow-outbreak-pandemic-health/.

Muller, Joann. “Hotel Industry Could Lose 4 Million Jobs from Coronavirus Impact.” Axios, 17 Mar. 2020, www.axios.com/hotel-industry-lose-4-million-jobs-coronavirus-7cae41a2-ebc0-4ddd-ae00-e92cff4abafc.html.

Renting vs. Buying

Renting vs. Buying
Luke Hesprich

Renting and buying can be the best of both evils especially if it’s a house or something small like a car.

Buying means that you can do whatever you want to the place cosmetically if it’s a home or even a car. Renting is a little different in that you can’t just do everything you want. It’s mostly cost effective for whoever is either renting the home or owning then renting it out.

According to the New York Times, “the rental economy is a part of a growing, post recession movement to value experiences over possessions.” So basically renting out places or cars is economically better for us in the long run. Entrepreneurs apparently say that anticipating something you want makes you more happy than actually having ownership over it. That is one big reason why renting is better than owning. Acquiring more experiences seems to be what we are into these days.


Other than that, this pie graph here shows on the right that more than 50% of people that live in the US rent rather than buy. On the left shows all of the brands that there are to rent from including the amount of people that are renters. Most people really don’t have a choice depending on how much money they have. Anyone can rent or buy, most people seem to rent over buy. But then again there are a lot of people that like having ownership over something rather than having something temporary. So then what’s better? Renting is better for the economy unlike buying, and renting is also mentally pleasing unlike buying. So it looks like renting is the best option upon buying after all.




Works Cited
Horton, et al. “Owning, Using and Renting: Some Simple Economics of the ‘Sharing Economy.’” NBER, 25 Feb. 2016, www.nber.org/papers/w22029.

Miller, Claire Cain. “Is Owning Overrated? The Rental Economy Rises.” The New York Times, The New York Times, 29 Aug. 2014, www.nytimes.com/2014/08/30/upshot/is-owning-overrated-the-rental-economy-rises.html.

Vollio , Anthony. “Is Renting Good for the Economy?” Economy, 2018, www.ecnmy.org/learn/your-home/homes-housing-economy/the-rental-market/.

How the Coronavirus is Affecting the Dow

How the Coronavirus is Affecting the Dow
Clare Pelzel

As you have seen, the Coronavirus has been shutting down events, school, and even entire communities because of how fast it has been spreading. Killing thousands of people already, the Coronavirus is the largest pandemic of the century. Along with causing deaths around the world, this virus is taking a toll on the world economy. The Dow has been dropping faster daily than ever before on record by losing almost 2,000 points in one day and 12% this past week (CNBC).

The Dow Jones Industrial Average, the Dow, is an indicator of how 30 large, U.S. listed companies have traded during a standard trading session (investopedia). The Dow is a stock market index which provides a single measurement for how the economy, as a whole, is progressing for that moment in time. This helps people track how the stock market as a whole is doing at a glance instead of having to track all markets separately.

A major cause of the large decrease in the Dow was Trump recently put on a travel ban to all European countries to protect American citizens from contracting the Coronavirus(New York Times). While the travel ban keeps us safe, it hurts the economy. Because of the travel ban, investors are less likely to buy stocks in airlines and other traveling companies. Nobody is going to be traveling, so the airlines aren’t going to be making as much money which means the investors wouldn't make much money, so those stocks aren’t bought; thus creating a domino effect. This domino effect is shown through the Dow which is how it dropped 2,000 points in one day and 12% in one week.


Works Cited
Foimbert. “The Dow Lost 12% in One Week. Here's Why and What Likely Happens Next.”
CNBC, CNBC, 29 Feb. 2020,
www.cnbc.com/2020/02/28/the-dow-just-lost-12percent-in-one-week-heres-why-and-what-likely-happens-next.html.

Seth, Shobhit. “What the Dow Means and How It Is Calculated.” Investopedia, Investopedia, 29
Jan. 2020,
www.investopedia.com/articles/investing/082714/what-dow-means-and-why-we-calculate-it-way-we-do.asp.

“Travel Limits, Economic Fears Stoke Market Plunge.” The New York Times, The New York
Times, 12 Mar. 2020, www.nytimes.com/2020/03/12/business/stock-market-today.html.

The Best Way to Spend Your Time in Self-Quarantine

The Best Way to Spend Your Time in Self-Quarantine
By Ella Bergman

The coronavirus may be the only thing on people’s minds right now, but it’s best to focus on the positives that can come out of this self-quarantine it has forced us into.  While it may seem like there are infinite ways to spend our time over these next few weeks, it’s best to keep the future in mind and continue on the budget you’ve set before all of this craziness.  The world may seem like it’s ending with how much this virus has blown up, but life will continue when this is all over.

First, this time at home is a great time to reflect.  Look back on your budget you have set for yourself, or if you don’t have a budget at all, now is a great time to set one!  If you already have a budget in place, take a look at what you have spent your money on this year so far.  Is it accurate to your budget?  Does any spending need to be adjusted?  Once you have determined what is going well and what needs to be fixed, fix it!  And don’t stop there; throughout these next few weeks test out your new-and-improved plan and see if it really works for you, and if not, adjust it again.  All this free time makes it easy to spend money on things that seem good at the moment, but are probably not helping our saving for the future.  Be wise in the way you spend your money during this time.  Think about your future self and what you will need to use your money for in the future to cut back on spending now.  Sticking to your normal routines can also help with stress management, as I’m sure there is plenty of stress coming from all the information (whether true or false) being spread about the virus.


Budgeting might not sound fun, but now is a great time to get all the things done that you have been pushing off because you “don’t have enough time.”  Now, you have all the time in the world.  Sitting down and being productive is great, but we all know that can get boring.  Find times between the work to have fun and do other things you can’t normally do with school and other activities consuming your life.  Watch a movie or two, read a book, learn something you’ve been wanting to do for a while now.  Linked HERE is a list of some other ideas that USA Today came up with to keep you from wasting away.  It’s easy to give in to the lethargy of self-quarantine and take this time as an extended vacation, but you’ll be much happier spending your time on things that will matter when this break is all over.

Works Cited

“100 Things to Do While Stuck inside Due to a Pandemic.” USA Today, Gannett Satellite Information Network, 16 Mar. 2020, www.usatoday.com/story/life/health-wellness/2020/03/16/coronavirus-quarantine-100-things-do-while-trapped-inside/5054632002/.

McManus, Kaitlin. “5 Productive Things to Do in Quarantine.” Vault, Vault, 13 Mar. 2020, www.vault.com/blogs/general-articles/5-genuinely-productive-things-to-do-in-quarantine.

“Mental Health and Coping During COVID-19.” Centers for Disease Control and Prevention, Centers for Disease Control and Prevention, 6 Mar. 2020, www.cdc.gov/coronavirus/2019-ncov/prepare/managing-stress-anxiety.html.

How to Save Money in Medical School

How to Save Money in Medical School
Written By: Ellie T.

After college expenses, some people decide to get a higher education. Depending on the person, it could be veterinary school, medical school, law school, or any other specialized higher education. For most higher education, the number of applicants each year continues to increase. From 2006 to 2016, the number of applicants to go to medical school increased by 35%. While this may not seem to be a large issue because most people would expect more medical colleges to expand their student numbers; however, acceptance rates are decreasing to just 4.8%. While acceptance rates are a large factor, less than 15% of students wanting to become doctors succeed.

While most people are aware that medical school is very costly, the cost continues to increase. This puts stress on the students and most drop out because of stress, anxiety, depression, or ways they cope with the stress, in the form of drugs, alcohol, or criminal activity. The cost of tuition and expenses requires a large majority of students to take out loans. After graduating from medical school and prior to getting a job, loans will often continue to grow at a rate of over $1,000 per month.



There are a couple of ways to counteract the financial struggles of medical school. By simply finding more affordable housing or becoming roommates with people will decrease the cost of housing, However, housing isn’t the only way to counteract these struggles. Budgeting only for things that are necessary and not budgeting for the “wants” that people have is easy, but sticking to the budget is hard for most people. There are apps, programs, and websites that all assist in budgeting. While there are many more ways to save money during medical school, another easy way is to sell used books after using them.

To learn more: click here

Works Cited

“Getting Into Medical School Is Becoming Harder.” U.S. News & World Report, U.S. News & World Report, www.usnews.com/education/best-graduate-schools/top-medical-schools/articles/2017-10-31/getting-into-medical-school-is-becoming-even-harder.

“Going Directly from College to Medical School: What It Takes.” American Medical Association, 15 Aug. 2019, www.ama-assn.org/residents-students/preparing-medical-school/going-directly-college-medical-school-what-it-takes.

“Home.” USMLE Gunner - Learn How to Get Top Scores on the USMLE Board Exams, usmlegunner.com/medical-school/how-to-save-money/.

“Is Medical School Worth It Financially?” BestMedicalDegrees.com, www.bestmedicaldegrees.com/is-medical-school-worth-it-financially/.

Scheepers, Anton, and Anton Scheepers. “Top 7 Reasons Why Medical Students Dropout of Medical School.” The Apprentice Doctor, 7 Dec. 2018, www.theapprenticedoctor.com/top-7-reasons-students-drop-medical-school/.

The Increasing Regulations on the Internet

John Maki

The Increasing Regulations on the Internet

Protesting has been a tool for marginalized groups to demonstrate their frustrations with their current government. Radiating the need for change. Throughout 2019 and entering 2020, these protests remain prevalent in countries throughout the globe. From the French yellow vests, to Hong Kong and Lebanon. No country appears safe from these anti-government demonstrations. While protests can’t be stopped, some countries blame the increased intensity and support for these movements on social media and the internet. In the city of Ürümqi 2009, the Uighurs violently protested against the Chinese establishment. Riots were allegedly organized via Facebook. Resulting in the banning of Facebook and other social media from use in China and the state sponsored control of what its citizens see online to avoid public dissent.
When the internet was first created, free reign was given to users. A libertarian paradise where opinions were told and ideas were shared, censorship has been quickly seeping into the internet in recent months. Many authoritarian governments already censor the internet, some notable examples include China with the example already provided, Iran’s ban on facebook, Saudi Arabia’s ban on websites that portain include gay rights or anti-religious speech, and Turkey’s ban on speech that condems the Turkish involvement in Syria, which by the way according to the New York Times, Turkey declared war against the Syrian government on Sunday (3/1/2020). But attitudes in democratic countries are turning towards their authoritarian counterparts. The European Union’s infamous “Article 13” and similar bills seen in Australia, China, Singapore, Malaysia, Russia, and the possible legislation ‘online harms white paper’ in Britain, all sacrifice freedom under the facade of security, truth, and the emotional well-being of others. The United States often lets companies police themselves and monopoly tech firms are pulling in the reigns on what is allowed on their platforms. Content creators and others that contribute to the massive hub of ideas and information, are seeing increased restrictions and corporate regulations interfering or exploiting the information on the internet. Fear of fake news or lack of national security is rampant and often justifies the restriction of speech. The Internet is quickly falling out of the free public realm and into a regulated one.
Uganda, a country known for its corrupt government, has seen the implementation of a ‘social media tax’ that President Yoweri Museveni would claim would put an end to “gossip”. Critics argue that the real meaning of this tax is meant to suppress dissent in the country. Countries are stopping the internet from opinions that they deem dangerous. Oppression of anti-state language is dangerous and parallels George Orwell’s book, “1984”. We can’t assume that our freedoms are assured and must take precautions so that freedoms aren’t regulated by the government.


Works Cited
“Countries Are Increasingly Willing to Censor Speech Online.” The Economist, The Economist Newspaper, www.economist.com/international/2019/11/07/countries-are-increasingly-willing-to-censor-speech-online.

“Economics, Demography and Social Media Only Partly Explain the Protests Roiling so Many Countries Today.” The Economist, The Economist Newspaper, www.economist.com/international/2019/11/14/economics-demography-and-social-media-only-partly-explain-the-protests-roiling-so-many-countries-today.

“Factbox: 'Fake News' Laws around the World.” Reuters, Thomson Reuters, 2 Apr. 2019, www.reuters.com/article/us-singapore-politics-fakenews-factbox/factbox-fake-news-laws-around-the-world-idUSKCN1RE0XN.

Gall, Carlotta. “Turkey Declares Major Offensive Against Syrian Government.” The New York Times, The New York Times, 1 Mar. 2020, www.nytimes.com/2020/03/01/world/middleeast/turkey-syria-assault.html.

Kaplan, Juliana. “A World on Fire: Here Are All the Major Protests Happening around the Globe Right Now.” Business Insider, Business Insider, 22 Oct. 2019, www.businessinsider.com/all-the-protests-around-the-world-right-now.

“The Unsettling Rise of Internet Censorship Around the World.” By Tabby90, hackernoon.com/the-spread-of-internet-censorship-around-the-world-7i1mn3zwb.

Wauters, Robin. “China Blocks Access To Twitter, Facebook After Riots.” TechCrunch, TechCrunch, 7 July 2009, techcrunch.com/2009/07/07/china-blocks-access-to-twitter-facebook-after-riots/.

You Need to Invest in Cryptocurrencies

You Need to Invest in Cryptocurrencies
Written By: Sean Collar

If I were to give you $10,000 and tell you to invest it, most people would not know how to do so, but for those who do, most would choose a variety of stocks. Stocks are shares (very small percentages) of their company that they sell to the public. Once purchased, you now own a very small percentage of the company and take in all gains and losses as the stock price moves. Sure, it is great to diversify your investments across multiple companies and industries, but even better is diversifying your money across different types of investments. Most millionaires have their money in several different investments such as index funds, real estate, dividend stocks, art, gold, business investments, and now, the growing crypto market.

With a rapidly developing world comes new technology and new everything. A new investment: Cryptocurrency. Cryptos are very complex when it comes to understanding where they come from and exchange, but the price of a crypto is seen similar to a stock price. When a crypto is in demand, the price goes up, and when otherwise, goes down. Cryptos are meant to be used as a currency used in transactions, but many treat them as an investment. There are thousands of cryptos available to invest in, but some of the main ones are Bitcoin, Ethereum, Litecoin, Monero, and Dash. Bitcoin is the “gold” of the crypto market. It’s price currently sits around $8,000, while 5 years ago it’s price was at $300. In December of 2017, Bitcoin even hit $19,000. Yes, cryptos are extremely volatile, but the market itself is so new, and yet to be discovered by many. This lack of education in investors means there is tons of upside to an investment in crypto. Cryptocurrencies WILL grow long term because of their future applications to everyday life.

You may be wondering where you can start buying cryptos. There are two amazing options. First, the simpler of the two, which is Coinbase. Coinbase is for beginner crypto investors. It is a smartphone app and the fees are $0.99 per transaction. For me, I invest in cryptos for the long term, so the fees are not a big problem considering I am only buying. Coinbase has a great, sleek look, and is very easy to navigate. It is straightforward, and there are several cryptos available to buy.

Next is the Binance, which was just released in the United States. Binance dominated the crypto markets in the rest of the world, and they even have their own cryptocurrency now, named “Binance Coin”. Binance US has is now a smartphone app, and is great for more advanced investors, or those who wish to have a larger selection of cryptos. Unlike Coinbase, Binance does not have any fees, but rather added into the price of the coin you are purchasing. Binance is more complex to use, and on top of placing orders at the market price, you can set buy/sell stop and limit orders which make trading easier for advanced investors.

I personally use both Coinbase and Binance, and love them both in different ways. Like most, I started with Coinbase, and moved to Binance after 6-12 months of investing. I suggest you do the same, getting your feet wet with Coinbase, then further your ventures with Binance. However, if you wish to start investing in cryptos, here are the TEN that I researched a couple months ago and have been buying weekly with consistent gains:

• Bitcoin (BTC)
• Binance Coin (BNB)
• Ethereum (ETH)
• Litecoin (LTC)
• Ripple (XRP)
• Stellar Lumens (XLM)
• 0x (ZRX)
• Chainlink (LINK)
• Cardano (ADA)
• Basic Attention Token (BAT)

***Next to the name is the ticker used on trading apps/websites***

Buying all 10 of these would be similar to diversifying your stock market purchases; reducing risk in a high risk investment, while staying risky. Now is a great time to start investing, especially in cryptos. It is a high risk, high yield investment. This means that you should not put all of your money in cryptos, but a portion of your assets should be in them. If you want a shot at becoming a millionaire before you are old and retired, take on some riskier investments. The cryptocurrency market has so much upside and potential. The car company Ferrari accepts bitcoin to purchase their cars. With the outbreak of the Coronavirus, you can see where paper money is flawed in that people could be worried about germs on the bills. Enter cryptocurrencies, a worldwide network of currency, decentralized and available to everyone worldwide.

Works Cited

Kuffel, Hunter. “How (and Where) To Invest In Cryptocurrency.” SmartAsset, SmartAsset, 15 Jan. 2020, smartasset.com/investing/how-to-invest-in-cryptocurrency.

Rohan, et al. “Nine Investing Strategies Millionaires Use to Accumulate Wealth.” ESI Money, 30 Dec. 2019, esimoney.com/nine-investing-strategies-millionaires-use-to-accumulate-wealth/.

What Are Some Strategies Self-made Millionaires Use?

What Are Some Strategies Self-made Millionaires Use?
Written By: Skylar Allen


Have you ever wondered how many people have been able to become millionaires by such young ages? For some, it may be that they got lucky and got it from their upbringing; it was handed down to them. Very few have won the huge jackpot in the lottery, and others have taken initiative to really work super hard in order to get where they are. Even though it may be
something challenging to build up to, here are some tips and tricks from self made millionaires to start building that up bank account, even if it’s not to millions.

One of the first things that they do is setting up a family budget and setting goals. Addison Jarman, a self made millionaire by 25 who is well known on the social media platform Tik Tok for giving out advice and tips on how to get to where she is, says “Have an intense goal-setting session where you create a strategic plan. Maybe you want to pay off all debt within five years. Maybe it’s owning your first home by the end of 2021. Set that goal and then break that down into a bunch of micro-goals.”. This is really important because you are creating a budget with what you have, and you are also making goals for the long run. When she mentioned breaking your larger and more long term goals into micro-goals, that's really important and it’s something not many people do. Setting micro-goals will allow you to see progress faster and throughout the time in which you wish to complete the big goal. Seeing this progress will give you the impression that you are making consistent progress, which results in you wanting to continue to do what you are doing.

Something many people struggle with isn’t understanding needs vs wants, but resisting to give in and buy those want items. Another quote from Jarman is “Just because you’re making this much, it doesn’t mean that you should be spending that much. I think so many people are just working paycheck to paycheck and just spend too much. You need to look very closely at what’s a need versus a want.”. This shows that people really need to take a look at what they are spending and what they can reduce from it to identify the “wants” that they have the strong desire to have. The sooner you are able to identify wants versus needs and really start to lessen the amount of “wants” you are spending money on, the sooner you will see those smaller results in your account. This could be an example of a micro-goal you could set for yourself.

Another interesting fact that many people may not know about self made millionaires is that many of them have more than one source of income. According to Tanza Loudenback’s article 17 habits of self made millionaires, from a man who spent 5 years studying rich people, "three seemed to be the magic number in my study," adding that 65% "had at least three streams of income that they created prior to making their first million dollars.". To expand on that, Jarman made a video on the social media platform, and she stated that she owns three businesses and works a corporate job, which was made before she quit her corporate job. Having a “side hustle” is extremely beneficial because it adds another source of income. These don’t have to be jobs you need to have a set schedule all the time for either, you can do some photography or videography and charge people per session, or become a realtor on the side! There are so many options; it's truly unbelievable.

Lastly, there are many more tips and tricks in order to start building up your bank accounts, but one of the overall most important things to keep in mind is that you need to be a motivated and determined person. All of these tips take time and a lot of effort. The sooner you start the sooner you will have the opportunity to see a difference and possibly set yourself up for success. Even though you may not see millions, seeing any growth is better than nothing.

Works Cited

Loudenback, Tanza. “17 Habits of Self-Made Millionaires, from a Man Who Spent 5 Years Studying

Rich People.” Business Insider, Business Insider, 3 Oct. 2019, www.businessinsider.com/good-habits-of-self-made-millionaires.

Parents Staff February 06, and Parents Staff. “How This Mom Became a Millionaire by 25.” PEOPLE.com, 6 Feb. 2020, people.com/human-interest/how-this-mom-became-a-millionaire-by-25/.

Coffee Spending

Coffee Spending
Written By: Grace T.

Coffee has become one of the most popular drinks in the world. From starbucks, to collectivo, to brewing your own at home, it all comes with a cost. Four to five dollars doesn’t seem like a lot, but how much are you really spending chasing that caffeine kick? To most millenials (41%), they are willing to spend more on coffee than their retirement fund.
According to Cliff & Pebble, the average american spends anywhere from $1,221-$1,577 per year at starbucks. Each visit seems harmless as we are “just spending $5”. But that turns into a habit. It consistently turns into no big deal and quite possibly a daily routine. Not only does the illusion of coffee prices entice us into buying a coffee, but the convenience as well. There are 15,144 locations across the nation and 31,256 worldwide. With that being said, odds are there is at least one starbucks on your way to school or work. Another part of convenience is online ordering. Being able to online order shortens wait times and takes the cost directly out of your bank account. This reduces the probability that one is consciously tracking spending and realizing the determinants of buying starbucks coffee every day.
Although those numbers seem scary, there are many solutions and alternatives. The cheapest alternative is to brew at home. Making a cup of coffee at home costs about $245 a year. Although that may take up more time, that is saving anywhere from $976-$1,332 a year-which is a big enough difference to be worth it. Another alternative is cheaper coffee shops. Places like Duncan Donuts, Panera, and Caribou Coffee all are a dollar or so less than starbucks per cup. That will save a small amount of money each time which accumulates to save more in the long run. The final solution is to limit the amount spent per week. Rather than going every day, limit it to a few times per month/week to lower the annual cost.

Coffee chains are never going away. With coffee being the leading beverage for adults above 18, coffee shops will continue to evolve. Knowing how to budget and the importance of tracking spending can help reduce how much is spent in a year and save money for the future.

Works Cited

Cliff & Pebble. “Here's How Much Your Starbucks Habit Costs You.” Cliff & Pebble, cliffandpebble.com/blogs/our-blog/heres-how-much-your-starbucks-habit-costs-you.

Editors of Publications International, Ltd. “Coffee Facts.” HowStuffWorks, HowStuffWorks, 29 May 2008, recipes.howstuffworks.com/coffee-facts.htm.

Herrera, Tim. “Here's Some Money Advice: Just Buy the Coffee.” The New York Times, The New York Times, 24 June 2019, www.nytimes.com/2019/06/23/smarter-living/personal-financial-advice-coffee.html.

Lock, S. “Starbucks: International and U.S. Stores 2019.” Statista, 19 Nov. 2019, www.statista.com/statistics/218366/number-of-international-and-us-starbucks-stores/.

Rella, Emily. “This Chain Restaurant Has the Cheapest Small Cup of Hot Coffee.” AOL.com, AOL, 15 July 2016, www.aol.com/article/2016/03/04/this-chain-resturaunt-has-the-cheapest-small-cup-of-hot-coffee/21323049/#.

VanderKnyff, Rick, et al. “Should I Be Spending $6 on a Coffee?” NerdWallet, 13 Dec. 2019, www.nerdwallet.com/blog/finance/should-i-be-spending-6-on-coffee/.

Economic Benefits of Air Transportation

Economic Benefits of Air Transportation
AP Economics
Brynn VandeZande

As one of the most popular methods of long distance travel and business, the air transportation industry contributes to the success of the global economy on a larger scale than most people might imagine. This industry has many different uses, including the common passenger travel, and global business through exporting/importing of goods. Over the years, demand within the airline industry has been rising steadily. This rapid growth was caused in part by rising GDP, disposable income, and living standards, since this creates an environment where people are more willing to travel for both leisure and business purposes.

Overall, aviation in general supports an immense 65.5 million jobs worldwide and contributed $2.7 trillion to global GDP. In 2004, North America accounted for 37% of global employment in the aviation industry, but accounted for over 50% of the contribution of air transport to global GDP. This is clear evidence of how widespread the effects are, and on how large of a scale they act upon. Michael Gill, Executive Director of ATAG, states, “It’s a fascinating look at the scope of the aviation industry and our role in the world, when you realise that aviation, if it were a country, would be the 20th largest economy in the world, supporting 65.5 million jobs and nearly three trillion dollars in economic impact.”

Not only is the direct impact of aviation so substantial, but this industry is also an indirect source of economic growth in other aspects of economy, such as tourism and global business. Specifically, the tourism industry is directly linked to air transport, and the tourism industry in itself counts for 3.8% of world GDP and millions of jobs on top of this. By utilizing air transport to bring visitors, it is able to facilitate growth and create jobs in this large industry as well, thus creating a spin-off effect on these other industries and benefiting the world economy in more ways than one.

Additionally, ⅓ of international world trade occurs by air, and seeing that world trade is rising at almost double the rate of global GDP, economies around the world are going to be becoming increasingly reliant on air travel to facilitate this trade. By 2036, it is expected that 97.8 jobs are going to be supported by the air transport industry, contributing $5.7 trillion to the global economy.

It has been made clear of the vast economic benefits that the air transport industry has created, however, it should not be taken lightly the social benefits that arise from this as well. It is well known that this often can improve the quality of life through leisure and cultural experiences. Additionally, through tourism, air transport helps to reduce poverty and improve living standards. Overall, air transportation is not only able to connect our global economy, but also link the people of our world together.

Works Cited

“The Economic & Social Benefits of Air Transport.” Air Transport Action Group, www.icao.int/meetings/wrdss2011/documents/jointworkshop2005/atag_socialbenefitsairtransport.pdf.
“Enabling Trade.” Aviation Benefits Beyond Borders, aviationbenefits.org/economic-growth/enabling-trade/.

“The Future.” Aviation Benefits Beyond Borders, aviationbenefits.org/economic-growth/the-future/.
“Social and Economic Benefits of Aviation.” Air Transport Action Group, www.atag.org/our-activities/social-and-economic-benefits-of-aviation.html.

Should Running for President be Reliant on Money?

Should Running for President be Reliant on Money?
Trinh Vo

With the recent Democratic debates and the election heating up, there are only 5 candidates left for the democrats. There are many reasons for dropping out of the running for president, but there have been many candidates who’ve dropped out of the race partially due to a lack of funding. Many of us are getting close to the age where we can vote. Thus, it’s important to delve deeper into what it takes to even consider running for president; more specifically, how much it takes to run, such as self-funding or depending on donors, to show how funding should not determine who wins or loses.

In the 2004 election, George W. Bush spent around $345 million to win the election. Within the 2016 campaign, Hilary Clinton and Donald Trump spent a combined $1.16 billion. This trend of setting records for most money spent on campaigns is a poor reflection of how winning the presidency works. This begs the question should campaigning be so reliant on the money? And is there a disadvantage to those who are more reliant on donations rather than self-funding? Or is funding a reflection of the candidate’s progress and popularity?

While the majority of candidates are very reliant on donors, some are more than others. Within the 2016 election, Donald Trump self-funded the majority of his campaign meaning he used personal funds like portions of his income, trusts, or investment in stocks and more. This allowed him the ability to last a lot longer in the running than anyone expected of him and eventually led to his win as president. Similarly, in the current 2020 election, Michael Bloomberg is known to completely self fund his campaign and not accept contributions from outside donors which has helped him remain in the running despite not winning in various polls. In contrast, many candidates are more reliant on donors to fund their campaigns. For example, Kamala Harris was very reliant on donors but also dropped out of the election race due to a lack of funding despite her qualifications for presidency. Thus showing how dependent on money the electoral race is currently and how the money doesn’t accurately represent the candidate.

There are many pros and cons of self-funding verses donors for a campaign. For example, self-funding makes it easier to advertise more and stay ahead of other candidates, in terms of resources available to them, and stay in the running longer. The production possibility curve is greater on the side of self-funding because it gives the candidate more freedom in advertising and where the funding is allocated instead of being more focused on abiding by the ideas of big donors. But the opportunity cost of self-funding a campaign is that if the candidate does not win, it is a bigger loss for them due to the amount of personal resources invested in their campaign. Similarly, self-funding doesn’t accurately reflect the current polls for each candidate. For example, Bloomberg has the most funding, but has not led in any polls. Whereas, Amy Klobuchar, a candidate who is more dependent on donors, after doing well in the Iowa caucus, rose in polls and gained more funding from donors that reflected her rise. Thus showing that while funding may be what staying in the race relies on, it doesn’t represent the candidates to the best extent.

Thus, as more candidates drop out of the running and as many of us get closer to voting age, think about how much goes into running for president. While it may seem like one candidate is significantly better because of how long they’ve stayed in the race and how much money they have, that may not be the case. So as we debate who we will get to vote for, maybe let’s look a little deeper into how they’ve got to where they are.

Works Cited
“The 2019 Presidential Campaign Dropouts, Ranked.” POLITICO, www.politico.com/news/magazine/2019/12/26/2020-presidential-campaign-dropouts-ranked-089675.
“2020 Presidential Race.” OpenSecrets, www.opensecrets.org/2020-presidential-race.

“Democratic Drop-Outs Spent at Least $74M Pursuing Unsuccessful 2020 Bids.” OpenSecrets News, 20 Dec. 2019, www.opensecrets.org/news/2019/12/2020-democratic-drop-outs-spent-74m/.

Epstein, Reid J., and Trip Gabriel. “Pete Buttigieg to Quit Democratic Presidential Race.” The New York Times, The New York Times, 1 Mar. 2020, www.nytimes.com/2020/03/01/us/politics/pete-buttigieg-drops-out.html.

Graham, David A. “The 2020 U.S. Presidential Race: A Cheat Sheet.” The Atlantic, Atlantic Media Company, 12 Feb. 2020, www.theatlantic.com/politics/archive/2020/02/2020-candidates-president-guide/582598/.

Investopedia. “How Much Does It Cost to Become President?” Investopedia, Investopedia, 10 Feb. 2020, www.investopedia.com/insights/cost-of-becoming-president/.

McMinn, Sean, and Alyson Hurt. “Tracking The Money Race Behind The Presidential Campaign.” NPR, NPR, 21 Feb. 2020, www.npr.org/2019/04/16/711812314/tracking-the-money-race-behind-the-presidential-campaign.

Overby, Peter. “Every Position Donald Trump Has Taken On How He Is Funding His Campaign.” NPR, NPR, 14 July 2016, www.npr.org/2016/07/14/485699964/every-position-donald-trump-has-taken-on-how-he-is-funding-his-campaign.

Panetta, Grace. “Here's Everything We Know about the Net Worth and Personal Finances of Each 2020 Democratic Presidential Candidate.” Business Insider, Business Insider, 29 Feb. 2020, www.businessinsider.com/estimated-net-worth-wealth-2020-democratic-presidential-candidates-2019-4.

Summers, Juana. “Bloomberg Has Already Spent $450 Million On Ads Since Launching His Campaign.” NPR, NPR, 21 Feb. 2020, www.npr.org/2020/02/21/808163144/bloomberg-has-already-spent-450-million-on-ads-since-launching-his-campaign.

“Using the Personal Funds of the Candidate.” FEC.gov, www.fec.gov/help-candidates-and-committees/candidate-taking-receipts/using-personal-funds-candidate/.

Paying for College

Written by: Logan Torres

Crunching numbers countless nights, my mind racing about what was to come. Many teenagers go through this. Once hitting senior year, the reality of financial aid set in. As for most families in Pewaukee, the support colleges give to students for demonstrated need is minimal...at best. To those who realize they will end up with a bill of $80,000 a year, I am here to tell you some steps you can take to become financially responsible for your future. It may seem as if you have no actions you can take now, but I can assure you there is much to do.

First and foremost is deciding whether you want to attend a four year university. Quite possibly a technical college or trade school might work better, instead of a four year university. On average, an elevator mechanic walks out of trade school with a starting salary of $41,323 dollars, making their way up to $116,150 with about five years of experience and further training (payscale.com). Comparatively, a salesperson, one of the most common jobs for a college graduate (CNBC), makes a total beginning salary of $31,100. It is also about the job you plan on going into. As learned in personal finance, about 27% of people go into a field they received their degree in (insighthighered.com). If you are not dead set on one career path it might be wise to go to WCTC or UW Waukesha for the first year. Then, transfer once you have a better idea.

If you are like me and have decided to go to a four year university, your next integral step is FAFSA(Free Application for Federal Student Aid). When you are applying for a school, the application almost one-hundred percent of the time gives you the option of sending in financial aid information. This section is where you select YES and they will ask you to submit your FAFSA, along with other information depending on what school you are applying to. Although you might not get any money outright from FAFSA or the school, it still does allow you to apply for an up to $5,500 student loan from the government. Now you might be thinking, why would I want to borrow money? Aren’t I still going to be in debt? The answer is quite frankly, yes. However, by borrowing from the government in lieu of a private agency or bank, the interest on the loan will be significantly less. A private loan is anywhere from 4.75% to 15.14% often with no grace period (period where there is no interest). Whereas, a student loan from FAFSA has a maximum of 7% with most being offered at around 4.45%, complete with a four year grace period (debt.org). Another important factor to note is how much money you will actually need. Never take more out for a loan than you need. You make think you need it but make sure you create a budget. Doing this will ensure your debt will be paid off faster. Taking this step will at least guarantee money you can borrow in your future.

Now, no one wants loans. So, here are some steps I took before and after applying for FAFSA that helped me. My junior year was when I began my scholarship search. Scholarships, although unlikely to win one, is an important factor in going to college. If you search hard enough there will be a scholarship where you fit the exact mold a scholarship committee is looking for. For a comprehensive list of all of the scholarships I have found, sorted by interest and type, you can go here (in the process of being built, but has lots of opportunities now!).

For other tips and tricks you can go here, because it is a culmination of many actions that makes college affordable. A lot of times we can get scared because everyone around us is yelling different problems. But with hard work and dedication, you can do it.

Works Cited

Federal Student Aid, studentaid.gov/h/apply-for-aid/fafsa.

“Alternative Ways to Pay for College (And How to Make It Cheaper).” SimpleTuition, www.simpletuition.com/managing-finances/alternative-ways-to-pay-for-college/.

“Average Elevator Mechanic Hourly Pay.” PayScale, www.payscale.com/research/US/Job=Elevator_Mechanic/Hourly_Rate.

Classically Court. “The Most Popular Job among Recent College Grads Pays $83,000 per Year-Here Are the Other 9.” CNBC, CNBC, 9 May 2019, www.cnbc.com/2019/05/08/linkedin-the-10-most-popular-jobs-among-recent-college-graduates.html.

Hamm, Trent. “Why You Should Consider Trade School Instead of College.” The Simple Dollar, 24 Jan. 2019, www.thesimpledollar.com/investing/college/why-you-should-consider-trade-school-instead-of-college/.

“New Data Track Graduates of Six Popular Majors through Their First Three Jobs.” New Data Track Graduates of Six Popular Majors through Their First Three Jobs, www.insidehighered.com/news/2019/08/02/new-data-track-graduates-six-popular-majors-through-their-first-three-jobs?utm_source=Inside+Higher+Ed&utm_campaign=9e78e93db6-DNU_2019_COPY_01&utm_medium=email&utm_term=0_1fcbc04421-9e78e93db6-199671765&mc_cid=9e78e93db6&mc_eid=eef5f6254c.

Max FayStaff. “Federal & Private Interest Rates on Student Loans.” Debt.org, www.debt.org/students/financial-aid-process/interest-rates/.

Is Travel Insurance Worth It?

Is Travel Insurance Worth It?
By: Megan Stoffield

With spring coming up soon, many of us are booking flights and reservations ready to go on vacation. Whether it be all the way across the world or just a few hours away it would still be a bummer if something came up causing the trip to be canceled. If your trip gets canceled due to injury, sickness, weather, etc., how much money will you lose? Can you get a refund? Is buying travel insurance worth it? Travel insurance can be a lifesaver in many cases, but at the same time be a waste of money and it’s important to know when to spend the extra dollars on it when booking a trip.

What is Travel Insurance?
Travel insurance is a purchased protection for losses or emergencies that can occur while you are traveling. Common things that travel insurance covers is a medical emergency that occurs right before a trip or during the trip, or even just a delayed or lost suitcase. In addition to being insured for certain circumstances on your trip, travel insurance commonly comes with assistance services. These assistant services can help replace lost luggage, passports, and even assistance in arrangement and monitoring of medical care in case of an emergency. There are different types of travel insurance for cruises, international trips, resorts, etc. Each type of travel insurance comes with its own fine print, so always read all details to ensure you will be fully protected in any type of emergency that could occur during your specific trip.

When is it worth it?
Travel insurance can be well worth the cost if you have to cancel your trip last minute or even during your trip. For example a close relative of mine had a two week trip to Scotland planned, but tore his achilles tendon a few weeks before the trip which came with a very long recovery. They were able to save all but $200 on the whole two week trip of reservations and flights. The main reasons that travel insurance is worth it is for international trips, for cruises, and medical reasons.

International trips tend to be much more expensive, planned out, and longer in length than domestic trips and this leads to much more money on the line if the trip needs to be canceled. There are many websites and resources such as insuremytrip.com that will give quotes for the whole trip and recommend the best insurance to cover your whole trip and reservations rather than just the flight or lodging that companies offer. With that said, those trips that are very planned out with upfront costs that add up, trip insurance is worth it.

Cruises are mostly all paid up front, have a high risk of problems that cause cancelations, and are many times international and those together are a recipe for disaster unless you have travel insurance. Additionally, with cruises it is reliable to get your insurance through the cruise line as long as it covers everything you need it for.

Lastly, medical emergencies can come up in many trips and if you are somewhere international or with little access to adequate medical care, travel insurance can help a lot. Based on the type of insurance, it can cover upfront initial costs of care and make sure your treatment is being monitored and arranged for you no matter where you are: but only specific insurance plans will cover these things.

When should you skip it?
There are some cases in which travel insurance can end up being a waste of money and hassle. These cases include domestic travel, for flights alone, and if your credit card already offers it.

Domestic travel tends to be much cheaper per person and less planned in advance than international trips are. Additionally, it tends to be much easier to cancel reservations or flights in the US over expensive international flights or plans. If a medical emergency arises and you have medical insurance, based on your plan it will be easier and more affordable to get care than if you were in another country, so travel insurance for that case isn’t necessary.

For flights alone, most simple travel insurance policies aren’t worth the cost of coverage for flights. With most flights if they are delayed or even canceled, the airline themselves will get you on the next open flight or provide compensation in terms of a refund or credit for another flight due to the cancelation. If you are to get insurance for a flight, make sure to research the plan closely to ensure that you will be covered and it is worth the cost.

Lastly, many credit card companies already offer travel protection as a perk of the card itself. Some companies offer mid-trip interruption insurance while others will cover lost baggage or trip cancelation coverage. As you sign up for a credit card it should be listed if any form of travel insurance is a perk of the card, but it is always worth it to ask and avoid the extra fees of separate travel insurance if your card already has it.

In summary, travel insurance can be a life saver financially or a waste of money. It is beneficial that you look into the trip you are booking and the coverage options that are available, and what the policies actually cover. Each trip is different and though it is never fun to have to use your travel insurance, in many cases it can save tons of money and stress.

Works Cited

Allianz. “Travel Insurance 101: How Travel Insurance Works.” Allianz Travel Insurance, www.allianztravelinsurance.com/travel/planning/how-travel-insurance-works.htm.

Leonhardt, Megan. “4 Times You Can Skip Travel Insurance-and 3 Times You Should Buy It.” CNBC, CNBC, 20 June 2018, www.cnbc.com/2018/06/15/when-you-can-skip-travel-insurance-and-when-you-should-buy-it.html.

Nikki, and Nikki. “Is Travel Insurance Worth It? Here's Your Guide to Decide.” She Saves She Travels, 3 Apr. 2019, shesavesshetravels.com/travel-tips/is-travel-insurance-worth-it/.

Weisbaum, Herb. “Is Travel Insurance Worth It?” NBCNews.com, NBCUniversal News Group, 6 Mar. 2019, www.nbcnews.com/better/lifestyle/travel-insurance-worth-it-ncna978911.