BP#7 Financial Responsibility

In this article " Financial Responsibility for all : Myth or Reality by Lubie Grujcic -Alatriste shows that Financial responsibility is the process of managing money and other assets in a manner that is considered productive and in the best interests of the individual or family. Many people would also feel that earning educational credentials that are at least university level is also a need in today’s world.Credit cards can teach children how to manage and establish credit records which help out later in life when they are trying to buy homes.And also teaches them financial responsibility. Some parents think giving their child a credit card is a straight shot into debt.Another option for teens and parents to consider is prepaid credit cards. Parents apply for a prepaid credit card in the child's name and deposit money into the account. The prepaid cards can be used anywhere Visa or MasterCard are accepted. They also come with extra features like online account control and tools, financial lessons and interactive games designed to teach fiscal responsibility.



 Furthemore,Haiti takes financial responsibility very seriously. We aim to work as efficiently and effectively as possible to address the needs of Haitians with disabilities. In 2009, 14 percent of the budget of HHH was devoted to administrative costs. This means that 86 cents of every dollar raised went directly to serve Haitians with disabilities.We are committed to the principles of transparency, accountability and sustainability. The Board of Directors appoints a Board member as the Treasurer for a three year term. This is a volunteer position. The Treasurer is a member of and reports directly to the Governance Committee, which is a joint committee of the International and Haitian Boards. 

In addition , As a college student, the easiest mistake to make is letting your newfound independence hijack your finances. It's incredibly easy to spend money left and right when you go off to school, so here are a few tips to live by to ensure you manage your money well.Be responsible for your own spending money: any food, entertainment, shopping, and travel expenses, to name a few, should come out of your own pocket. If you have to pay for your own casual, out-of-school expenses, you'll be less inclined to spend the money.If you have or will have a credit card, you should be ready to exercise great responsibility with it. Credit cards are an easy gateway into a large amount of debt, if you don't manage them properly. Perhaps you and your parents can set a pre-paid spending limit on the card, or you decide it's only to be used in case of emergency. Credit cards can be very helpful in certain circumstances, and you will begin to build a credit history, which is a good thing.

In conclusion,If you have or will have a credit card, you should be ready to exercise great responsibility with it. Credit cards are an easy gateway into a large amount of debt, if you don't manage them properly. Perhaps you and your parents can set a pre-paid spending limit on the card, or you decide it's only to be used in case of emergency. Credit cards can be very helpful in certain circumstances, and you will begin to build a credit history, which is a good thing.