Balancing Finances Through College

Balancing Finances Through College
Written by: Kylie H.

As we are graduating high school, most of us are going far from home. If this is the case, then what happens when your dream college does not offer dorms? You now have to live in an apartment. You might be stressed out because you cannot afford an apartment right now. You might give up and choose a different college with dorms or a college closer to home. Do not give up your dreams, and follow my plan to manage your finances to afford that apartment!

First, you will definitely need a side job while you are in college. Even if you have started saving up in high school, you will still need to pay monthly rent. After you have a job, you need to determine the amount of money you can afford to spend on the apartment. In order to do this, you divide your gross annual income by forty. Next, you should apply for financial aid and student loans but take into account that the U.S. Department of Education also lets you use the loans for housing and living expenses alongside education.

The advantage of taking out a student loan is that it allows you to afford college and housing. Paying off student loans also helps you build up credit. This will help you in the future when you are planning on buying a house. Better credit allows for better things in the future. On the downside, student loans come with a huge disadvantage. Student loans can be very expensive. When you take out student loans to pay for college and an apartment, you do not just have to pay back the amount you borrowed, but you have to pay interest. This interest can range from  4.45–7% for federal student loans (in 2018) to a high of 11–15% for private student loans. You should use student loans as a last resort for buying an apartment. You should always try and fund other ways, which will leave you with little debt to pay off after you graduate.

The most important aspect of renting an apartment is to ensure you have roommates. The more roommates you have, the more you can afford. From 2002 to 2012, the percent of Americans that had roommates have increased from 25.4% to 32.0%. Overall, having a roommate, allows you to afford a better apartment, split the cost of utilities and rent, and allow the cost of groceries and entertainment to be split.

Choosing an apartment can be a difficult decision when it comes to finances. Using these steps and tips can help you afford an apartment with resulting in low debt after college.

Works Cited

Brown, Mike. “9 Best Private Student Loans of April 2020.” LendEDU, Mike Brown, 1 Apr. 2020, lendedu.com/blog/private-student-loans/.

McCarthy, Niall, and Felix Richter. “Infographic: Americans Living With Roommates: A Growing Trend.” Statista Infographics, Nial McCarthy, 6 Nov. 2014, www.statista.com/chart/2916/americans-living-with-roommates/.

Stobierski, Tim. “Pros and Cons of Student Loans.” Student Debt Warriors, Tim Stobierski, 5 Sept. 2019, studentdebtwarriors.com/students/pros-and-cons-of-student-loans/.

US Government. “Federal Interest Rates and Fees.” Federal Student Aid, US Department of Education, 1 Feb. 2020, studentaid.gov/understand-aid/types/loans/interest-rates.

Purchasing a home: How do you know you’re ready?

Purchasing a home: How do you know you’re ready?
By: Ariana De La Cerda

Purchasing a home is one of the biggest purchases one will make as they enter their adult years. This purchase proves the responsibility for money, shows how all the investments and savings over the years come into play, and really tests the decision making of the buyer. This process seems super exciting, and new homeowners are typically eager to start their new life in a new home. However, some people may overlook all the technicalities and important financial questions that need to be addressed first. For this blog post, I will be going over the most important financial questions you need to ask yourself before making this large purchase, and why these questions must be addressed in order for you to maintain financial stability.

Here are the basic steps you need to take when preparing to buy your house: 
Understand why your making this purchase, check your credit score, create a housing budget, save for a down payment, shop for a mortgage, hire the real estate agent, see multiple homes, make the offer, get a home inspection, negotiate repairs and credits, secure your financing, do a final walkthrough, then, finally, close on the house. There you go! Now you may be thinking: Why do I need all of these? Now it’s time to get into the logistics and explain why you have to embrace the process.

The first thing I mentioned was understanding why you’re making this purchase. This is pretty self-explanatory: Starting a family? Starting a new job near this home? Finally, feel financially stable enough? Just ask yourself first. Second, check your credit score. According to Natalie Issa, head of communications at Day One Management Ventures, “Everything from qualifying for a credit card or an auto loan to getting utility services or renting an apartment can be impacted by how good your credit score is.” So, you should definitely have a stable credit score in order to qualify for loans and financial security. Third, you must create a housing budget. This is so critical in this process because you need to be sure your money is balanced and ready for this purchase. As Ms. Straub has taught us this semester, creating a budget is one of the most important financial processes you will ever go through!

Saving for a down payment is crucial to the process because it lowers the overall payment cost per month and over time, and increases the equity on the house. My dad, who works in finance, said this can also help with better interest rates on the house in the long run. Shopping a mortgage is beneficial in the aspect that you could be available for loans and reduced fees. Hiring the real estate agent will assure you get the house you desire and will help you feel more secure. Home inspections and walkthroughs are important to ensure you don’t miss any stand-out repairs or undesirables that you would have to deal with yourself; this also ties in with negotiating repairs, seeing as some of them should not have to be your responsibility. Then, after taking all the appropriate precautions, make the call! You have been responsible and followed all the steps. Congrats, homeowner!

Works Cited:

Lee, Jeanne. “How to buy a house in 2020.” Bankrate, Jan. 8 2020
https://www.bankrate.com/real-estate/how-to-buy-a-house/

Issa, Natalie. “What Credit Score Do I Need to Buy a House?” Credit.com, Feb. 28, 2019
https://www.credit.com/loans/mortgage-questions/check-your-credit-score-report-before-buying-home/

Becker, Matt. “7 Financial Questions to Ask Yourself Before Buying a House.” Mom and Dad Money, Feb. 20, 2019
https://momanddadmoney.com/7-financial-questions-to-ask-yourself-before-buying-a-house/

Ramsey, Dave. “How to Save a Down Payment for a House.” Ramsey Solutions, 2020
https://www.daveramsey.com/blog/save-down-payment-while-renting

REBAC. “Need a Mortgage? Why and how you should shop around.” National Association of Realtors, Sep. 26, 2019
https://homebuying.realtor/content/need-mortgage-why-and-how-you-should-shop-around

There's a Sale on Oil (kind of)

There’s a Sale on Oil (kind of)

By Ethan Warbelton

Oil has always been a rather fragile market. Prices tend to change on a dime (no pun intended), and if you’ve ever been to a gas station, you’ve seen it already. One day, you’re paying two dollars a gallon, and then a week later the price is up to $2.50, but a month later it’s down to $1.93, so on and so on. These fluctuations can be seen on the chart below, which measures based on a cost-per-barrel basis:


There are some pretty big spikes and drops here, but this is nothing compared to what is happening present day. This week, oil prices were down to -$30 dollars per barrel. That’s right, negative. Industries are simply running out of places to store their 100 million barrels that are produced each day, and even worse, they’re running out of buyers. The problem has gotten so bad that they have to pay people to take the barrels from them. This issue has never happened before in the history of selling oil, and it leaves everyone wondering how? Well, it all has to do with the virus we all know and hate, COVID-19.

Currently, we are all cooped up in our homes, stuck in a month-long quarantine as the government deals with the COVID-19 pandemic. As a result, people are not traveling very often. Only essential workers are using their cars, plane travel has been slowed significantly, and international trade has also been slowed. Practically everything that uses fuel made using oil is being used much less. As a result, there is less of a demand for oil from refineries, while oil barges only continue to grow their overwhelmingly large supply. But not for long.

Oil producers have been implementing substantial output cuts, with over 6,000 wells closing in North Dakota. Other states, such as Oklahoma and New Mexico, are allowing producers to shut down without losing their leases. Even other countries like Vietnam, Brazil, and Chad are cutting down on production. Even then, is still a buildup of oil. What isn’t sold or stored on land is stored in oil tankers, which are large boats designed to primarily store oil.


The above still was taken from a video posted by the US Coast Guard of Los Angeles, which stated that they are monitoring the 27 oil tankers anchored in the shores of Southern California. In all, there really is no way to fix this issue but shutting production down at an even greater rate until the pandemic is over. But with that comes less business, and therefore oil production companies, especially smaller ones, are finding it more challenging to not go bankrupt, which goes to show how the pandemic is affecting everyone.

But hey, on the bright side, this also means that when the pandemic eventually is over, gas prices should stay pretty low for a good while. We’ll just have to wait and see. 

Works Cited
Bloomberg.com, Bloomberg, www.bloomberg.com/news/articles/2020-04-26/the-next-chapter-of-the-oil-crisis-the-industry-shuts-down.

“Crude Oil Prices - 70 Year Historical Chart.” MacroTrends, www.macrotrends.net/1369/crude-oil-price-history-chart.

Reed, Stanley, and Clifford Krauss. “Too Much Oil: How a Barrel Came to Be Worth Less Than Nothing.” The New York Times, The New York Times, 20 Apr. 2020, www.nytimes.com/2020/04/20/business/oil-prices.html.

How has Covid-19 affected employment throughout the US?

]How has Covid-19 affected employment throughout the U.S.?

With schools shutting down, businesses closing, and many individuals getting laid off of work, it has been a struggle for many. With the continuous spread of the virus, about six weeks ago, the stay at home order was addressed by our Governor, Tony Evers. Since everyone is practicing self isolation, many small businesses are closing, along with many individuals losing their jobs rapidly. Over 20 million Americans have now applied for unemployment benefits just within the past four-five weeks. Unemployment benefits are intended to partially restore lost wages. This means that the precise amount you receive, will depend on what you used to earn with your most recent job. However, states are using different formulas to calculate the benefit payments for individuals. With many individuals losing their jobs, it has taken a huge toll on our economy. Dating back to 2009, the US economy suffered from the Great Recession. However, due to the amount of people that have filed initial claims for unemployment insurance over the past four weeks, the unemployment rate is already about 15%. This is well above the rate at the peak of the Great Recession. During this time period, “The global GDP declined -5.1% and the peak global unemployment rate was at 10%.” The Great Recession lasted from December 2007 to June 2009. Keep in mind, this happened to the span of 18 months. The fact that COVID-19 has caused a skyrocketing unemployment rate of 15% just within six weeks is extremely alarming for our future. According to Annelies Goger, a writer for Brookings Education, she states, “One of the unique features of this crisis is that it is disproportionately impacting low wage workers in the service sector more than previous recessions. This problem is being compounded by the fact that our unemployment system has been engineered to be less equipped and to protect these workers”. This has resulted in many states forced to borrow federal money to bail out their unemployment insurance trust funds. There are millions of jobless Americans that are coming face-to-face with the harsh reality that the jobs they thought they would have for a lifetime, are slowly disappearing. This current economic recession has been considered to be the steepest economic plummet since the Great Depression.

Recently, Trump has announced that stimulus checks from the federal government will be sent out. These checks are being sent out to hopefully re-engage our economy by increasing sales with the money that is being sent out. However, there are multiple factors that affect your eligibility to receive the stimulus check. According to Kenneth Terrel, a writer for AARP, he states “AARP worked to ensure that individuals who are collecting Social Security benefits for retirement, disability or supplemental security income, will be eligible for the stimulus payments as well.” he also states, “the size of the check will decrease based on income for individuals who earn more than $75,000 based on the federal tax return for 2019. Individuals who earned more than $99,000 and couples who earned more than $198,000 jointly will not receive checks at all.” Many reporters, articles, and other sources have made it clear that COVID-19 has reached its peak. However with further research, many individuals are worried about the upcoming fall due to the regular spread of influenza. Researchers have stated that although COVID-19 may have reached its peak in April, there will be another peak, fall of 2020 due to the spread of the flu. Although COVID-19 has swept the world in a global pandemic, the CDC made a statement saying that the best way to avoid the spread of the virus is to stay at home and contained. With these orders, hopefully we can reduce the spread of the virus and start to make our way out of this economic recession.

Works Cited

Cunningham, Josh. COVID-19: Impact on Employment and Labor, www.ncsl.org/research/labor-and-employment/covid-19-impact-on-employment-and-labor.aspx.

“Effects of COVID-19 on the Current Employment Statistics Survey.” U.S. Bureau of Labor Statistics, U.S. Bureau of Labor Statistics, www.bls.gov/bls/effects-of-covid-19-pandemic-on-employment-and-unemployment-statistics.htm.

Mutikani, Lucia, and Thomson Reuters. “Coronavirus: Over 20 Million Americans Have Now Applied for Unemployment Benefit.” World Economic Forum, www.weforum.org/agenda/2020/04/united-states-unemployment-claimants-coronavirus-covid19/.

Ruiz, Joe, et al. “People Receiving Stimulus Checks Get Letter Signed by President Donald Trump.” CNN, Cable News Network, 26 Apr. 2020, www.cnn.com/2020/04/26/politics/stimulus-check-coronavirus-letter-donald-trump/index.html.

Terrell, Kenneth. “Stimulus Checks: Who Is Eligible and When Will You Get Them?” AARP, www.aarp.org/politics-society/advocacy/info-2020/coronavirus-stimulus-checks.html.

(Picture) “A Decade after It Hit, What Was Learnt from the Great Recession?” The Economist, The Economist Newspaper, www.economist.com/finance-and-economics/2017/12/16/a-decade-after-it-hit-what-was-learnt-from-the-great-recession.

Are Stimulus checks good for the economy?

Are stimulus checks good for the economy?
Written by: Jonny Carerros

People love spending money on the things they love, however people enjoy getting free money even more. Right now in the US taxpayers are receiving money because of what is happening with the coronavirus. The money they are receiving is called a stimulus check. This stimulus check is letting taxpayers have a little more spending money for whatever they want. However, are stimulus checks good for the economy or are they bad? (Not all short term or long term benefits are included)

To determine if stimulus checks are good or not we have to first look at what exactly a stimulus check is. A stimulus check is the government giving taxpayers money to spend on whatever they want. The amount of money they give you depends on how much money you make a year. The more money you have a year the less money you will get from the stimulus check and the less money you make the more money you will get from the stimulus check as shown to the right. People making $75,000 or less get a check for $1,200, people making $80,000-$85,000 a year get $950 and so forth. The reason the government does this is because this is supposed to encourage people to spend some money and stimulate the economy by having some money go around.


Do the stimulus checks help stimulate the economy and help us right now and for the future? For right now, it does help tremendously. It has many effects on the economy that can help many people especially with employment. According to investpodia.com, “The Congressional Budget Office found that the stimulus checks, along with other measures to jumpstart the economy, had by 2011 created between 1.6 million and 4.6 million jobs, increased real GDP by between 1.1 and 3.1 percent, and reduced unemployment by between 0.6 and 1.8 percentage points.” This data shows that there is a great impact from stimulus checks. It has a great chance of letting people get jobs and truly does help the economy. During the quarantine time many people are going to be losing jobs because companies don’t have money. Though if they can get money, like from the stimulus checks people spend, they will have more money to hire people. This is a great effect for US citizens because more people will be able to have jobs and earn money during this hard time. There is a great short term benefit right now, however is the long term as good?

The long term benefits are kind of the same as the short term with the economy slowly getting better. Though what about for the people after they stop receiving stimulus checks. Taxpayers are going to have to eventually pay back all that money they received next time they pay taxes. This is going to affect some people greatly, mainly people who earn under $75,000. There are some flexible areas with how much money you make and if you get bumped above certain thresholds but for the most part it will have people paying back some money to the government. When people pay that money back they will have to be using even less money otherwise they won’t have enough money to pay that back. So they are kind of in a gray shady area of having money but not being able to use much because they have to pay back what they got eventually. Though it probably won’t be all the money right away and will slowly get paid back.

Does the short term benefits outweigh the long term downfalls for the people. They do quite a bit. It is important to have a stable economy that can last and the stimulus checks help greatly with keeping the economy on its feet. Also, the people won’t have to pay back everything right away and will come slowly so it isn’t too much damage done to them. However, the economy at that time is also growing so they will have greater opportunities to raise the amount of money they make. So, the stimulus checks are great for the economy and should be used during hard times to keep the economy stable and up.


For the picture: https://www.cbsnews.com/news/stimulus-checks-debt-collectors-cares-act/
(At 2:15 in the video on the top)

Works Cited
“A Guide to COVID-19 Economic Stimulus Relief.” Consumerfinance, Consumer Financial Protection Bureau, 15 Apr. 2020, www.consumerfinance.gov/about-us/blog/guide-covid-19-economic-stimulus-checks/.

Halton, Clay. “Stimulus Check.” Investopedia, Investopedia, 16 Apr. 2020, www.investopedia.com/terms/s/stimulus-check.asp.

Ivanova, Irina. “Debt Collectors Are Going after Americans' Stimulus Checks-and the CARES Act Allows It.” CBS News, CBS Interactive, 16 Apr. 2020, 6:52 PM, www.cbsnews.com/news/stimulus-checks-debt-collectors-cares-act/.

Piccchi, Aimee. “Here's How Your Coronavirus Stimulus Check Affects Your Taxes.” USA Today, Gannett Satellite Information Network, 18 Apr. 2020, www.usatoday.com/story/money/personalfinance/2020/04/18/coronavirus-stimulus-check-how-economic-impact-payments-affect-taxes/5148805002/.

Broadway Shut Down

Jake Koch

As the global pandemic progressed, new limitations to big group gatherings were announced. The difficult decision was made to shutdown Broadway completely, until the week of April 13th. For years, Broadway has overcome many obstacles, but this closure of productions could pose a potential economic downfall. The phrase “the show must go on” became a reality during wars and recessions of all kinds, but during the outbreak of Covid-19, a different protocol is taking place, putting thousands of professionals out of work.

Photo by Vincent Tullo for The New York Times

Broadway doesn’t stop productions often, but now they are given no choice. In 1918, all theatres remained open during the flu pandemic. The only times that Broadway has gone dark were during strikes, extreme snow storms, and the 9/11 terrorist attacks. During the Stagehand’s Strike of 2007 and the Musician’s Strike of 1975, theatres closed for only about three weeks. Nevertheless, Broadway was back up and running September 13th after the attacks of 2001. In all these past shutdowns, Broadway has been able to reopen without much damage done to the economic stance and revenue, but with this longer closure, Broadway faces major losses to their income over the next 4 months. 

When the current suspension was announced, Broadway’s longest running show (Phantom of the Opera) was mid production of their Thursday matinee. Moulin Rouge, a new production, canceled their final show due to an actor feeling ill and no cast members wanting to risk their health. Throughout the month of closure, 16 shows on and off Broadway were scheduled to open, and seven shows were postponed or closed. In addition, the 74th Annual Tony Awards has been postponed indefinitely, which is a major economic disaster in this business. It’s possible some of these shows may not be able to open at all, due to the extreme loss of money.

As the ‘Safer at Home’ orders have been extended, Broadway’s extreme intermission has as well. All shows are set to open back up on June 7th, keeping all performers and theatrical workers out of work for a lengthy 87 days.

A normal week on Broadway makes around $27 million. That’s all of the ticket prices of the 29 shows, currently running on broadway, added together. With thousands of people out of work, “at least $7.4 billion in tax revenue is projected to be lost by the middle of next year” (Goodman 2020). This major loss in income and revenue will effect Broadway for quite some time in the future, as well as all its professionals heavily relying on their income. It’s questionable how theatres are going to emerge from such an economic downfall. The Metropolitan Opera is debating if they will even be able restart their programming in September, and it looks like Broadway is going to have a similar issue.


Graph by Playbill.com

Works Cited
“Broadway, Off-Broadway, London News, Listings and Tickets.” Playbill, www.playbill.com/.
“Broadway.com.” Broadway.com, www.broadway.com/.

Goodman, J. David. “'I Don't Think the New York That We Left Will Be Back for Some Years'.” The New York Times, The New York Times, 20 Apr. 2020, www.nytimes.com/2020/04/20/nyregion/new-york-economy-coronavirus.html.

Kriegstein, Brittany, and Leonard Greene. “Coronavirus Economic Impact Explained: How Broadway's Shutdown Is Crippling an Industry in NYC.” Nydailynews.com, New York Daily News, 18 Mar. 2020, www.nydailynews.com/coronavirus/ny-broadway-shutdown-hurting-businesses-20200318-wvs5ihmkcnc2lkuull2rzetbaa-story.html.

Staff, Broadway.com. “The Shutdown Continues: All Performances of Broadway Shows Now Suspended Through June 7.” Broadway.com, Broadway.com, 8 Apr. 2020,
www.broadway.com/buzz/198813/the-shutdown-continues-all-performances-of-broadway-shows-now-suspended-through-june-7/.

Credit Card vs Debit Card: Which is better

Credit Card vs Debit Card: Which is better
Written By: Peyton S.

When it comes to picking Credit cards and Debit cards many people will choose Credit cards but why? What is it about Credit cards that makes people choose it above Debit cards well that’s what I’m finding out right now.



Credit cards are issued by financial institutions like a bank and you get to borrow money from that institution that the cardholder will pay back with interest while a Debit card is your own money in card form so there is no interest you have to pay. There are 4 different kinds of Credit cards, Standard, Rewards, Secured Credit and Charge cards, each have a different purpose but all deal with the cash from the bank while there is only 1 type of Debit card but since it’s your money you have no interest or fees to pay.



Credit cards become defective after the warranty has expired but they still offer great protection from theft as long as they report in a timely manner with a liability of $50 and for Debit cards it’ll have to be reported in less than 48 hours or the liability will be $500. When a Debit card is stolen and is spent on stuff it cannot be returned unless the merchant is willing too and the holder can’t get the money back until an investigation is complete but Credit card holders have no such investigations and the money is immediately deducted back into your card.

So it is with great certainty that the Credit card is better than the Debit card because you can spend as much as you want as long as you pay it back and has protection against fraud and you won’t have to pay liability but it’s still nice to have a Debit card so you won’t pay for everything with a Credit card and get in debt.

Works Cited

Cussen, Mark P. “What's the Difference Between Credit Cards and Debit Cards?” Investopedia, Investopedia, 29 Jan. 2020, www.investopedia.com/articles/personal-finance/050214/credit-vs-debit-cards-which-better.asp.

How Much Money Should You Spend On A Car

How Much Money Should You Spend On A Car
Written by: Josh P.

Since our country doesn’t have a very big public transit industry compared to other countries, you have to own a car to do essential tasks such as go to work or get groceries. So how much should you spend on your car? It depends on how much money you make and what your personal interests are.

Morgan Housel, one of the writers from the Motley Fool, (an investing blog) says that saving money comes down to making good financial choices in life. The three main expenses in life are what house you buy, what car you buy, and how much you pay for college or any other education. The more you spend on these big expenses, the less money you’ll be able to save for an emergency, or invest for your retirement. And although the little expenses matter too, such as eating out every night, or buying a coffee from a chain every morning also eat into your investments, it’s mainly these three expenses that hold you back.

Knowing that a car is one of the three biggest expenses in someone's life, you should try and put some thought into how much you spend on a car. 

The graphic below shows three different viewpoints, the far left being a more frugal person who doesn’t want to eat into their savings/investing money. The middle is the average consumer who wants a nice car for their salary and is willing to sacrifice a bigger portion of their paycheck to have a nicer car. Finally, the person on the right is someone that has a passion for cars and is willing to fork over half of their income on cars because that’s one of their biggest hobbies.

First you have to figure out which of the three categories you fit into, then based on the percent in each category, calculate how much money you should spend on a car. Knowing this, I hope you can make an educated decision on how much you spend on your first or second car

Works Cited

Housel, Morgan. “How to Actually Save Money.” The Motley Fool, The Motley Fool, 24 June 2014, www.fool.com/financial-advice/2014/06/24/save_money.aspx.

Weliver, David, et al. “How Much Should You Spend On A Car?” Money Under 30, www.moneyunder30.com/how-much-car-can-you-afford.

Cats or Dogs? Which are more expensive?

Cats or Dogs? Which are more expensive?
Written By: Isabella B.

Over the years, there has been a constant debate about which pet is better. Some may say dogs are loyal and a man's best friend and others might say that cats are cuddly and independent creatures. While I’m not here to tell you which one is the best pet out of the two, I will tell you which one is less expensive to take care of.

To break things down a bit more, there are two main categories of expenses that come with any pet: vet and  food/supplies. In the first year of owning a pet, the veterinary bills can be very expensive especially since in the first year, they need all of their shots to make sure that they can live a happy and healthy life. All these shots add up, not to mention if your cat/dog needs medication due to an illness or injury. According to, Moneytalksnews.com, many families get pet health insurance to help decrease the amount of money from the vet bills but the insurance itself is very expensive. In 2017, it averaged about $535 for dog insurance and $335 for cat insurance. It’s already starting to seem like a lot of money but this is just the veterinary needs.

Every pet has their share of expenses for the animals food needs and these prices can vary from $5 to $40 depending on their needs and what you prefer to give to your pets. Then you have to think about bedding, toys, litterbox for cats, kennel for dogs, etc. While this may seem like the only things you need to consider when deciding which pet is more expensive, you also have to think about their life expectancy. Dogs can live up to 13 years while cats can easily reach 18 years. I can even verify this statement because my first cat lived to be 21 years old.





In the photo from CNBC, you can see that between dogs and cats, dogs can cost an average of $11,603 more than cats in their life. This includes all needs necessary for them to live a happy and healthy life. Of course these numbers have a very large expense range due to what type of dog/cat it is and how much you are willing to pay for your pets needs. There are just a lot more factors that come into play when paying for a dog then for a cat such as training lessons, a leash, grooming, a kennel, number of vet visits, etc.

All in all, due to all expenses and factors included, cats come out to be cheaper than dogs. However, pets are the best thing that you can invest in because not only do they become a part of the family but they are always there for you when you feel alone and need someone. It’s all up to preferences and how much money you are willing to pay for a furry companion.

Work cited

https://www.moneytalksnews.com/which-is-cheaper-cats-or-dogs/
https://www.cnbc.com/2017/04/27/how-much-does-it-cost-to-own-a-dog-7-times-more-than-you-expect.html
https://pets.thenest.com/average-lifespan-cats-vs-dogs-5379.html
https://www.huffingtonpost.ca/entry/pet-insurance-costs_n_5adf43abe4b07560f395f9b4

How to Receive Money For College

How to Receive Money For College
Written by: Melissa C.

As many of us, students are going to graduate high school in the near future, college is becoming an imminent topic in our life. Not only are we discussing what college we want to attend or what we want to do in college, but how we are going to pay for college. One vital way that assists many college students is scholarships. Some people aren’t aware of scholarship importance or how to attain them, but they make a tremendous beneficial impact on finances in college.

People don’t always recognize the importance of scholarships, but they can be significantly beneficial to a college experience. According to Scholarship America, “One quarter of the U.S. population—70 million people—owe a collective $700 billion in student loan debt.” This is a large amount of the population that is living with college debt. Not only is large amounts of debt evident, but according to a report by College Board, “Since 2000, public four-year tuition and fees have increased more than 5 percent annually above inflation” (Scholarship America). These two pieces of data combined make it evident that paying for college is not easy and has only become increasingly difficult over the years. These are reasons that represent why it is essential to apply for scholarships: they will help get out of these mass amounts of debt. Many students believe that scholarships won’t actually help them because they won’t get a lot of money, however, it is important to remember that every amount can help in the future. As the topic of post-college begins to be discussed, it is important to take into consideration that even a $1,000 scholarship can make the difference in being able to afford furniture, an apartment, or more once college is over.

This then brings into question exactly how to get scholarships. The biggest recommendation that can be made is to apply for as many scholarships as possible. There are countless ways to find different scholarships, this can be through high school career centers, libraries or bookstores, scholarship search sites, ethnic organizations, or friends and family (How to Get College Scholarships in 2020 (+ Mistakes to Avoid)). It is also crucial to pay attention to any fees associated with a scholarship; you should not have to pay for scholarships or scholarship searches. After discovering all opportunities possible, it is time to fill them out and pay attention to certain details. Online article Sallie Mae gave these tips in order to be on the road to success: be thorough, honest, proactive, diligent, and on time (Scholarship Applications - How to Apply for Scholarships). While it might seem like a long list to be successful, it isn’t too difficult to achieve. They recommend that through the process, you stay honest to yourself and don’t exaggerate grades, skills, or qualifications. It is also imperative that you fill the scholarships out in a timely matter in order to get them turned in when needed and have a coherent application. It can seem like a daunting idea to apply to an abundance of scholarships, but it is key to keep the end goal in mind: saving money for yourself and your family.

Works Cited

“How to Get College Scholarships in 2020 (+ Mistakes to Avoid).” I Will Teach You To Be Rich, 19 Mar. 2020, www.iwillteachyoutoberich.com/blog/how-to-get-scholarships/.

Sallie Mae. “Scholarship Applications - How to Apply for Scholarships.” Sallie Mae, Sallie Mae, 1 Jan. 1970, www.salliemae.com/college-planning/college-scholarships/apply-for-scholarships/.

Scholarship America. “5 Reasons Why Scholarships Are Essential.” U.S. News & World Report, U.S. News & World Report, 7 July 2011, www.usnews.com/education/blogs/the-scholarship-coach/2011/07/07/5-reasons-why-scholarships-are-essential.

“Why Are Scholarships so Important Anyway?” CommunityForce, 14 Nov. 2014, www.communityforce.com/the-impact-and-importance-of-scholarships/.

COVID-19 Effects on Non-Essential Business vs. Esssential Business

COVID-19 Effects On Non-Essential Business Vs Essential Business
Megan Brown

With the newly named global pandemic, COVID-19, otherwise known as the coronavirus, the United States has surpassed all other countries with the amount of cases we have. Being said, a huge impact has been placed on all kinds of businesses. Whether positive or negative, all businesses have been affected. During this time, we are filled with uncertainty and questions about the unknown. The questions small businesses have may be different from the large businesses that were considered essential and have remained open in this time. So how has the coronavirus affected these different places?

Many states across the country have decided to shut down non-essential small businesses. However, many don’t know what that all entails. Businesses such as bowling alleys, museums, theatres, and sporting/concert venues have all been forced to shut down. Due to the decrease in demand for entertainment, these small businesses are losing not only business, but also income. With the current shutdown, it is difficult to say what will happen to these businesses after this crisis is over. For reference, the PBA has been forced to shut down leagues for the safety of all of its members and fans.

The coronavirus has taken a toll on leagues as they suffer from financial issues. Since all games have been canceled, commissioner Willie Marcial said “Overall, we will lose a lot of money. Millions.” He is expecting for the games to be canceled for at least two months. Even further, looking closer at home, Sussex Bowl has been closed and my league has been postponed. Being said, it is obvious that non-essential business have been impacted negatively, but what about the businesses that were considered essential?

The essential businesses are places in which provide groceries, health/medical care, financial support, and utilities. First looking into grocery stores, there has been a huge increase in demand for products such as toilet paper and sanitizer. Being said, this high demand has given grocery stores more customers for essentials foods and needs during this shut down. This can have the positive effect of making more money. However, grocery stores are having a hard time keeping up with stock. Douglas Baker, the vice-president of industry relations at the Food Industry Association was mentioned in an article that said, “Manufacturers, distributors, and retailers are working to make sure grocery stores remain open and stocked. Baker said, ‘“We’re in unprecedented times, consumers need to be patient.”’ Although struggling, grocery stores are doing their best to stay stocked up given the high increase in demand for essential products. Lastly, hospitals are one of the most important places during this time. They are being affected the most. Hospitals and health care centers are running out of room due to the amount of cases. Although this is a negative impact and could be a potential problem, most essential businesses are having positive effects with increase in demand and business.

In the end, regardless of the positive or negative, all businesses are being affected due to the pandemic. It will take time for businesses that are still open to catch up with what is happening. So, as the people social distancing, we need to be patient so that the impacts on these businesses do not worsen.


Works Cited
Clark-KeaneView, Céillie. “How the Coronavirus (COVID-19) Pandemic Is Affecting Small Businesses & Marketers.” Business 2 Community, www.business2community.com/small-business/how-the-coronavirus-covid-19-pandemic-is-affecting-small-businesses-marketers-02293330.

Dioquino, Delfin. “Despite Losing Millions, PBA Prioritizes Safety.” Rappler, www.rappler.com/sports/by-sport/basketball/pba/255149-priority-safety-coronavirus-luzon-lockdown.

Jiang, Irene. “Here's the Difference between an 'Essential' Business and a 'Nonessential' Business as More than 30 States Have Imposed Restrictions.” Business Insider, Business Insider, 31 Mar. 2020, www.businessinsider.com/what-is-a-nonessential-business-essential-business-coronavirus-2020-3.

Walsh, James D. “Panic at the Costco: Will Grocery Stores Be Able to Keep up With Coronavirus?” Intelligencer, Intelligencer, 14 Mar. 2020, nymag.com/intelligencer/2020/03/coronavirus-will-grocery-stores-be-able-to-keep-up.html.

The Economics behind Film Making

The Economics Behind Filmmaking
Anja Riemer

Being apart of the filmmaking process is stressful in itself. Whether you’re an actor, director, or cinematographer it is hard work, which can be obvious. Something that is not obvious however is how much economics goes into the film making process.

There are a lot of factors that come into play when it comes to having a film be successful, one of them being-probably one of the biggest factors- is the consumers. As this is important in all kinds of business and economies. Considering consumers taste change constantly in the film industry any film is a risk. “According to the Motion Picture Association of America’s (MPAA) Theatrical Market Statistics Report for 2017, the U.S. and Canadian box office came in at $11.1 billion. This was a 2% decline from 2016. Globally the box office for films hit $40.6 billion in 2017” (Zipin). This shows that consumers taste is constantly fluctuating which can make it challenging to know if a film will do well or not. Going along with that, if a film being made already has a built-in-audience it can help them. An example of this would be something like the Harry Potter franchise or the Hunger Games franchise. Both of these already have built-in-audiences because they have people who have read the books and already are interested in seeing the film.

Along with consumers playing a big role in the economics of films, movie budget and costs have a lot to do with it. The cost and budget can be a lot even for smaller films. The estimate for each film isn’t fully accurate considering it doesn’t count for advertising and marketing costs. “For example, the production budget for a summer blockbuster such as Marvel’s "The Avengers" is recorded as $220 million, but if you factor in marketing and advertising costs, that number spikes” (Zipin). For smaller films their cost is going to spike because they need the advertising in order to peak peoples interest.

Along with consumers and budget playing a big role in economics of films, movie stars and merchandise play a role in the economics. Robert Downey Jr has earned at least $150 million, and perhaps as much as $300 million. Jeff Spross, economics and business correspondent at The Week, says that's not so surprising.The purpose of a movie star, especially in this current environment that we're talking about, is to get people into the movie seats, he said” (Arnold). This not only shows movie stars themselves are getting a high revenue but they’re one of the things that help with film publicity. When it comes to merchandise this is a big promoter of money and has a big impact on the economics of a film. One example would be Marvel films, they have a lot of merch and other branches of products. Mattew Lieberman, a director at PwC in Los Angeles said: “The ability to make money on these films is something that is quite unique, because there are often multiple releases, spin-off television franchises, and unbelievable revenue that can be created from consumer products. Think sheets, T-shirts, cups, mugs, all of those types of items. Many of the studios have banked on making only these franchises instead of either mid-size or smaller fare.” Merchandise and movie stars are definitely something that film companies strive for.

In conclusion there is a lot of economics that go into making a film like consumer needs, budget/cost, movie stars, and merchandise.

Works Cited

Arnold, Ann, and ABC Radio National. “Is There Any Money Left to Be Made in the Movies?” ABC News, 26 Feb. 2017, www.abc.net.au/news/2017-02-25/economics-of-movie-making/8292352.

Zipin, Dina. “How Exactly Do Movies Make Money?” Investopedia, Investopedia, 29 Jan. 2020, www.investopedia.com/articles/investing/093015/how-exactly-do-movies-make-money.asp.

 
       

Quarantine

Written by: AJ H.

Doesn’t this feel weird? Having to stay in your house and not being allowed to socialize with your friends who you haven’t seen in over a month feels weird to me. On the other hand, there are people reading this who love this because it gets them a few more hours of sleep and free time.  Covid-19, or coronavirus, is killing thousands of people all over the world and this isn’t helping our economy. So, what is quarantining doing to it, and how are we handling it?

Well, for all the millions remaining in their house, it’s killing businesses. They aren’t able to sell enough of their goods to all their customers to earn profit. But those are businesses for products like household goods and stuff like that. Grocery stores are wiping out their shelves and aisles and making millions. Many families are going to have no income for months which causes them to cut on the spending. How are we going to help these families out?

First off, tax cuts are considered to be a must when it comes to solutions. This would allow families to purchase the goods and services they need rather than being forced to pay their usual tax amounts. Another solution would be lower prices of needs. For example, take your keys and take a drive to the nearest gas station and take a look at how much gas prices went down. Crazy right? That sure is helping a ton of families in need of lowered prices. Although many of the companies are being forced to change their price because of the pandemic, it is helping citizens. The graph below shows how gas prices have dropped in the recent months. Since February 10th, there has actually been a heavier decrease bringing them to $1.



Out of those solutions, there isn’t a major one that stands out to everyone. But, the government is looking at a 1 trillion dollar investment that would give money to every family in the United States so they could remain economically stable through these tough times. Although this would have many troubles, there is more on the bright side to do so. In conclusion, this new way to live life by being gquarinited is causing us to make different decisions and different ways to spend our money to make the most of it. So far, the government is creating new ways to handle this to help out the families in need to try to make our country the best possible.

Living on Campus vs. Off

Written by: Grace S.

While nearly all college institutions have a publicized and estimated cost of tuition, it is obvious that there are additional expenses for attending college that are not always included in a college brochure, including the cost of housing. Only 17% of colleges in the U.S.-- about 87 in total--require first year students to live on campus, leaving the majority of students with the open option for on or off campus housing no matter what year you are in. However, this poses the dilemma of which to choose, and more often than not the decision will come down to which choice is the least expensive because as future college students with generally high tuition costs, we all will most likely need to be saving as much money as possible.

The answer of which housing option to choose is mainly dependent on which university you are attending and the cost of living in the area around your college. When living off campus in a shared apartment, for example, your cost of living will include rent, utilities, food, transportation, and other minor factors, whereas room and board cost at a college rolls all of those expenses into one price and automatically provides you with amenities. Depending on where your campus is located, however, all the various expenses of living off-campus may actually add up to be less than the housing cost at your college. The best course of action to take before committing to on-campus living is to familiarize yourself with the local area and housing options and compare the on-campus living expense with that of the off-campus renting options, so that you can make the best financial decision for your budget and monetary needs. This strategy of comparing all assets of each option is also a good habit to develop as you begin to make more significant financial choices into adulthood, as taking the time to research all options and compare the differences will allow you to avoid an uninformed, hasty decision.

Works Cited

“Comparing Expenses For Living On Campus vs. Off Campus.” Barry University, Barry University, 2020, www.barry.edu/housing/living-on-campus/expenses-living-on-off-campus.html.

“Colleges That Require Students To Live On Campus.” The Washington Post, WP Company, 2015, www.washingtonpost.com/apps/g/page/local/colleges-that-require-students-to-live-on-campus/1826/.

Caldwell, Miriam. “Is Living On Or Off Campus Better?” The Balance, The Balance, 26 June 2019, www.thebalance.com/choosing-between-on-and-off-campus-living-options-2386191.

Advantages of Buying vs. Leasing a New Vehicle

Written by: Jackson D.


When you go to purchase your new vehicle, there are a lot of decisions to make.  Once you figure out what kind of car you want, then you need to decide how to pay for it,

Most people can’t walk into a dealership and pay cash for a new car.  For most people, it’s going to be either to finance the car or lease the car.  Both ways you have to pay interest on the amount you finance.  In a normal world, the interest rate would be at least 3.25%, but with the COVID-19 issue, a lot of the cars you can get for 0%.  To make my case, I’m going to use 3.25%

The difference can mean more money in your pocket depending on how you look at it.  Here is an example for a 2020 Kia Forte.

Example #1  You purchase the car for  $ 18,000 for the car, including tax and other fees
You have $2,000 to pay the dealership and will  have to finance $16,000

Purchase Price $18,000
Cash Paid (2,000)
Amount Financed $16,000
Divide by 48 months $333.33 / month base payment
Interest @ 3.25% 42.73
Total Monthly Payment $376.06
When you make all the payments, the car is yours to do what you want

Example #2  You purchase the car for $18,000, including tax and other fees
You have $2,000 to pay the dealership, and the residual is $9,000.  You only have to finance $7,000. 

Purchase Price $18,000
Cash Paid (2,000)
Residual         (9,000)
Amount Financed $7,000
Divide by 48 months $145.83 / month base payment
Interest @ 3.25% $18.96
Total Monthly Payment $164.79

When you make all of your payments, the balance due is $9,000.  At this point, you can pay the $9,000.  You can trade the car in for another car, or you can walk away.

Leasing is good for people that want a new car all the time because you only pay for how much you use it.  If you keep cars until they die, then financing is a better plan.

Works Cited

Consumer Reports. “Leasing vs. Buying a New Car.” Consumer Reports, www.consumerreports.org/buying-a-car/leasing-vs-buying-a-new-car/.

“Leasing vs. Buying A Car - Breaking Down The Numbers.” Your Easiest Way to Lease, www.carlease.com/posts/2017/leasing-vs-buying-a-car-breaking-down-the-numbers.

Watson, Charlie. “Is Leasing A Car A Glorified Rental?” Cinci Auto News, 13 Dec. 2017, cinci-auto-news.com/2017/12/12/is-leasing-a-car-a-glorified-rental/.

How Does Covid-19 Affect Industries?

How Does Covid-19 Affect Industries?
By Logan Nettesheim

As we know the coronavirus is taking a toll on the economy, the stock markets are shifting dramatically and lots of businesses have closed their doors to consumers. Instead of looking at the DOW ,which shows how the economy as a whole is doing at that moment. Instead of looking at the overall economy let's look at how certain industries are affected.

Airlines have been hit very hard by Covid-19 pandemic, especially international airlines due to the ban on travel that President Trump put into place. Even though this ban is only for 30 days that is a giant impact on the revenue that these companies will bring in. According to CNBC airlines could expect to lose from $63 billion to $113 Billion dollars in revenue due to the pandemic. Due to lower fuel prices the airlines could partly offset early loss of business, but a decrease in travel by more than 20% would wipe out profits.

Other industries that have been hit very hard are professional sports, specifically the National Basketball Association and the NCAA. Rudy Golbert was the first NBA player that tested positive for the coronavirus, after Golbert tested positive the major sport industries postponed their seasons indefinitely. The NCAA had to cancel the March Madness tournament for the first time on record. The division 1 tournament generated about $867.5 million and in 2019 it generated about $933 million from media, sponsorships, and ticket sales according to Fox Business. This hurts the NCAA because the most revenue they bring in is during march madness so the organization would lose roughly a billion dollars in new revenue. The NBA has been hit very hard as well with the season being postponed. NBA stockholders project that a couple hundred million dollars in new revenue could be lost.

At the moment companies that produce hand sanitizer and disinfectant sprays are benefiting the most. According to Forbes Clean Well’s sale of hand sanitizer and disinfectant spray has increased by 400%. This is a really good thing for the company right now but when the pandemic ends they will have a surplus of hand sanitizer due to the decrease in demand. Clean Well expects to be sold out of 6 months worth of product within a month. Due to the increased demand and decrease in supply the consumers are willing to pay more for disinfectants and hand sanitizer. There are some people who realize what is happening and try to profit, for example Matt Colvin. Colvin bouth 17,000 hand sanitizers and would sell them on amazon and ebay as “pandemic packs” for $50. Amazon and ebay prevented him from selling hand sanitizer which left him with a giant stockpile with nobody to sell to, this is one of the reasons why the supply of hand sanitizer is so low.

The coronavirus has affected industries differently over the past couple months due to government shutdowns and mass hysteria caused by the media. Yes the economy as a whole is decreasing, that doesn’t mean that every industry is losing drastic profits. Some industries are benefiting a bit, some are maintaining revenue and some are going to lose revenue. This pandemic is a major hit on the economy but that doesn’t mean the economy is going to fail.



Works Cited
Barrabi, Thomas. “What Coronavirus Will Cost NCAA, NBA and Other US Sports Leagues.” Fox Business, Fox Business, 13 Mar. 2020, www.foxbusiness.com/sports/coronavirus-cost-ncaa-nba-mlb-nfl-nhl.

“Guy Stuck with 17,000 Hand Sanitizers He Can't Sell, after Getting Banned by Amazon and EBay.” Omgbalita.net, www.omgbalita.net/2020/03/guy-stuck-with-17000-hand-sanitizers-he.html.

Timmullaney. “At Airlines, a Coronavirus Cash Crunch Unlike Previous Travel Disruptions.” CNBC, CNBC, 5 Mar. 2020, www.cnbc.com/2020/03/05/at-airlines-coronavirus-cash-crunch-unlike-past-travel-disruptions.html.

Verdon, Joan. “Small Brands See Wild Surges In Sales Due To Coronavirus, But What Happens After Demand Slows?” Forbes, Forbes Magazine, 10 Mar. 2020, www.forbes.com/sites/joanverdon/2020/03/10/small-brands-seeing-rewards-and-risks-of-coronavirus-related-demand-surge/#2f7cb8c3699d.

Hourly vs. Salaray

Hourly Vs. Salary
Kyle Klem
Many of us are at the point in our lives when we are deciding what we wanna do with our lives and what jobs we want to get. With different jobs comes different circumstances, for example the way the business or firm pays you. You can either get paid hourly or have a salary there are pros and cons to both of these payment methods.

When you get paid off of a salary you have a steady flow of income and get paid with no fluctuations and also won’t affect compensation if the company is closed for a holiday or for any reason. Salary pay also has higher compensation than hourly. Salary jobs also tend to have more regular and set in place hours and schedules. You may also get extra perks that hourly jobs don’t offer like paid vacation or if you need to leave the job early for an appointment they are often more flexible. Another pro from receiving a salary is when times where the company is forced to close by the government you still receive your salary, as we are seeing in the present time with a pandemic many salary workers won’t need financial support and hourly employees most likely will.

Hourly workers get paid for the hour they worked with no exceptions. This also helps them if they are working overtime or on holidays as they receive more per hour if they work during these special circumstances. In recent years the wages of hourly workers has had a significant increase and keeps increasing as the years go on. A great benefit of working hourly you are most likely not to be blamed or held responsible if some should go wrong. Many hourly employees love their job because it doesn’t interfere with their time at home as they are compensated for the work they do at home like a salary worker. Although hourly sounds great there are some huge cons to think about, one of them being that they don’t receive nearly the quantity and quality benefits as a salary worker. Another huge con is that if the employer is going through a tough time they may cut back hours or just let you go based on the circumstance.

So in a time with a worldwide crisis like today, which is better hourly or salary? It is more of a preference but salary just has more pros than hourly during rough times like these, when the economy is down it affects lots of businesses but especially the ones who have mostly hourly employees which forces them to lay off or cut back hours of many workers to break even and not lose money. Where salary jobs won’t cut back hours but instead just push their employees extra hard to make ends meet. In times like these many families are living paycheck to paycheck and if they have a family member cut off from making money the whole family takes a big hit.

Works Cited
Elliott, Candice. “Hourly vs Salary: Advantages, Disadvantages and Opportunities.” Listen Money Matters, www.listenmoneymatters.com/hourly-vs-salary/.

Quinn, Amybeth. “Sourcing Salary Survey: Results.” SourceCon, 24 July 2015, www.sourcecon.com/sourcing-salary-survey-results/.

Richter, Felix. “Infographic: Average Hourly Earnings Climb to Unprecedented High.” Statista Infographics, 13 June 2019, www.statista.com/chart/17679/real-wages-in-the-united-states/.

Troy, Max TroyMax. “Pros and Cons of Salary vs Hourly Employee - Which Is Better?” OPTnation, 22 Mar. 2019, www.optnation.com/blog/pros-cons-salary-vs-hourly/.

United States History Of Debt

United States History of Debt
Logan Turner

What is debt?
A nation’s debt and its budget deficit are two related but different things. A deficit is the difference between how much money a government takes in each year (through taxes and international trade) and the amount of money that the same government spends each year (through programs like national security and healthcare). If the government is unwise in how it spends its money and it spends more money than it takes in, it has a budget deficit. On the other hand, if the government’s income surpasses the spending, it experiences a budget surplus. National Debt is an accumulation of previous deficits and surpluses.

History of US Debt
In a nation founded by war, it is no surprise that the United States had debt since its conception. America has a recorded debt of $43 million at the end of the Revolutionary War. The National debt was a common political struggle at the time with every side offering up their own solutions or remedies. It wasn’t until January 8th, 1835 when former President Andrew Jackson brought the national debt to $0 for the first (and only) time in US history. He achieved this by selling government-owned land in the west which came at a cost. Debt began to grow quite soon and the United States was just as prepared for it as they were prior to Jackson. The policies vetoed by Jackson would have expanded US infrastructure making debt easier to manage for the future.

US Debt Milestones
Already reached $33,000 by the end of 1735
Exceeded $500 million by the 1860s
Met $20 billion during WWI and then $200 billion after WWII
In 1982 the debt reached $1 trillion
Debt is currently $23 trillion (March 5th)
The national debt is 500,000 times as much as it was after the revolutionary war

Contributors to Debt
As I mentioned, America started with a large amount of Debt due to the country being founded on war. It is a common trend that debt increases by quite a lot during and after a war. Understandably so, the government prefers to spend a lot of money on their national security. Healthcare is another large contributor to the national debt. More and more Americans are in need of federally subsidized healthcare which is costing the United States a lot of money with no way to create revenue from it. One more factor that leads to debt is large fluctuations in demographics. Sudden booms of population offset the economy when they are in need of government support first when the generation is born and then again when the generation ages. This occurrence was especially evident during the baby boom. Government programs aren't equipped to deal with these sudden fluctuations and it may take years to recover.



How Other Countries Compare
A good comparative metric is a country’s debt per capita. Debt per capita is measured by taking a nation's total debt and dividing it by its population. To start, the United States has a debt per capita of $58,000. Many European countries such as France ($87,000), United Kingdom ($125,000), Switzerland ($213,000) and Sweden ($94,000) have a higher debt per capita than the United States. That is not to say that our economy is better off than those, just that our current debt seems to be a bit exaggerated. The real issue is the exponential increase in debt. America’s debt is climbing faster than most of these countries I mentioned.

What does this mean for Americans?
In order to combat the debt, governments try to squeeze more money out of their citizens by increasing taxes. Even after tax cuts, the taxes continue to increase to combat the debt affecting consumers and property owners. Big national debts lead to marginal economic growth in the short term however, it also leads to a weak job market due to less government spending on services that would otherwise create jobs. Another impact of the national debt that affects many Americans is higher interest rates on loans and credit cards.


Works Cited
“COUNTRY COMPARISON :: DEBT - EXTERNAL.” Central Intelligence Agency, Central Intelligence Agency, www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html#mc.
“Debt vs. Deficits: What's the Difference?” Peter G. Peterson Foundation, www.pgpf.org/blog/2016/10/debt-vs-deficits-whats-the-difference.
“Key Drivers of the National Debt.” Peter G. Peterson Foundation, www.pgpf.org/the-fiscal-and-economic-challenge/drivers.
“REPORTS.” Debt to the Penny (Daily History Search Application), www.treasurydirect.gov/NP/debt/current.