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Introduction: Your Financial Future Starts Now

The financial decisions you make now will impact your life for years to come. For example,
if you are not careful about how much credit card debt you have, this financial burden could
significantly impact your future. One of the goals of this module is to make sure you use stu-
dent loans wisely. Making smart financial decisions now can pay off in the long term, while
financial missteps and mistakes made now may cause problems down the road.

Getting an education will have the biggest impact on your potential earning power. Take Ash-
ford student Elena Maria as an example. Elena Maria’s mother told her early on to get a good
education and save for retirement. Her mother had a hard life after her husband died. She had
to raise three girls on her own, working as a cashier at a supermarket and as a housekeeper
at a local hotel on the weekends. She wanted to instill in her girls that the only way to get
ahead was to get a good education—something she had never had.

Elena Maria’s mother is now retired
and lives on Social Security, which
is barely enough to pay rent and buy
food. Elena Maria watched her mother
work her fingers to the bone; yet in
retirement, her mother is unable to
afford even the smallest of luxuries.
Elena Maria is now 30, works full time,
and takes college classes online in the
evening. Her mother will not accept
any money from any of her daughters,
since she wants them to invest in their
education. Elena Maria hopes that one
David Sacks/Digital Vision/SuperStock
day, after she graduates from college
Elena Maria was told from a young age that a good
and has a good job, she can help her
education and financial stability are important.
mother have a better life.
In this module, we will show you how to be a responsible borrower, how to understand
interest rate expenses and student loans, and how to avoid costly repayments. We will
examine credit cards and explain how to use credit wisely, how to interpret your credit
report and credit score, how to protect your credit, how to pay down your existing debt,
and why good credit matters.

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