Assignment:
If one is looking to build one's founds, is purchasing a home or a condo the best use of funds, why or why not?
Comment on student post
1. Self-concept and self-esteem is a critical part of an individual's development, and any adverse impact can affect the emotional, physical and self-worth of that individual into adulthood. Bullying is one of the issues that can severely impact a child's self-concept and self-esteem. Bullying has become such an issue that there are laws to address it and alleviate the impact on children and the effects it has on families also.
The fact that children will look at their peers to also validate them, the act of bullying can affect their self-esteem. According to Oswalt (n.d), when children engage in positive social activities with their peers they develop positive self-esteem but when children are regularly left out, teased, or bullied they developed low self-esteem.
In the explanation for bullying, there is research that draws upon child development where they ascertain identify that in early childhood children becomes bullies during the period when they are beginning to discover who they are but at the expense of others as a way of exerting social dominance. They tend to do this towards children deemed less powerful with the purpose of intimidation. And the result of the child that is bullied, the effect is to their health and well-being meaning that they are prone to mental illness ( Rigby, 2003). We have in our present society have seen, some of the results of some children that bullied, and they have engaged in shooting incidents also people who have committed suicide due to bullying.
2. Self concept is explained to be the way a child views his or herselves abilities and personalities. Children tend to organize what they have observed from their behavior and what they feel on the inside. Their self concept begins between the ages of 8 and 11 years of age (Berk and Meyers, 2015). Wei & Marder (2012) discusses that children who has a health self concept can view themselves as worthy and efficient, wil help them to so better in school. The issues are finding how students with disabilities and different ethnic background develop self concept and self esteem.
When a child has self concept they can identify who they are and what they can do. As a child dealing with difficulty in school and home it can cause them not to develop a positive self concept and can contribute to having low self-esteem. How the child view themselves when dealing with disabilities, social or cultural influences can also cause behaviors that can affect them. In Wei & Marder (2012) mentions that students with disabilities has a lower academic self-concept than students without disabilities.
Mead has also showed that children develop self concept formed from their personality trait (Berk and Meyers, 2015). When a child develops self concept and self esteem they will believe in their attribute and abilities which they can value. Also having a positive environment and fostering relationships can help children to have self concept and self esteem. Overall, to understand what the problems are in students with disabilities and ethnic backgrounds, one must understand why they have low self concept and low self esteem. Giving a student a positive and nurturing environment can help in repairing and developing self.
This is the discussion question students post about Susan Smith is an office administrator for a small company that does not have a retirement plan. Susan is 38 years old, divorced with a 14-year-old daughter.
- Her ex-husband pays $600 a month in child support.
- He also maintains a $75,000 life insurance policy with Susan as beneficiary.
- Susan's monthly rent is $900.
- Susan will receive $40,000 when former residence is sold.
- Susan has $5,000 credit card debt @ 18% interest.
- $2,500 in savings
- Maximum payment on credit cards are $300
- Susan received inheritance of $20,000 which she has placed in a 90-day Certificate of Deposit
- Susan has never had a budget her income or expenses
Susan's goals:
- To get control of her finances
- Purchase a $95,000 condominium
- Save money for retirement
What are your recommendations to Susan? What does she need to do to reach her goals? What steps are necessary for Susan to get her finances in order? Explain.
Donella post to susan recommendation
My first thought when reading this was, "Why would you purchase a $95,000 condominium". My concern would be that Susan can get more for her money in a house, depending on where she lives and all the other factors that come into play with that. I would suggest that she doesn't touch her savings if she can help it. Instead she needs to add to it with every paycheck and make a solid plan to increase and maximize her savings.
She will be receiving $40,000 from her former residence once it's sold, with that I would suggest she does 1 of 2 things if not both. 1 pay off her credit card debt. That can be a draining thing once the interest accrues. That will save $300 that could go towards something else. She also needs to look towards the future of her daughter. She's 14 and will need money for her junior and senior year, plus college if that hasn't been started already.
As far as the condominium goes, if that's what she wants it may be a good idea to put down a deposit or something while she has that large lumpsum of money. That will at least secure her spot.
Ultimately, she needs to make a budget to save more money.
Christina post to susan recommendation
In my opinion, Susan has a few options to reach her goals, so she can save money for retirement, purchase the condo, and get her finances under control. First Susan should take the $40,000 that she receives from selling her house, and put that towards the down payment on her condo. That would leave her owing $55,000 on the condo. Her monthly payment will be lower then her $900 rent payment.
Second she should pay off her credit card debt with the $20,000, and put the remaining money into a 401K account to start saving for retirement. Third, she should keep the $2500 in her savings account for emergencies such as, car repairs, or home repairs. Susan should keep the child support money separate from her own money in a different account for her daughter.
She should only use that money for her daughters needs. If there is any child support money left over at the end of month, then that should go into a savings account for her daughter. It could go towards college. Susan should also put money into her savings account every time she gets paid, even if its only $50 a pay check.
Lastly, Susan should make a budget and financial plan. She could be financially stable now, and in the future if she budgets her money and saves it.