College Being

Yesterday, due to the U.S. House of Representatives not passing the bailout bill, the stock market dropped over 700 points–the worst fall I have seen in all my life! What does this mean for you?

For most college students, it will not mean much. You should not be involved in personal investing in the stock market unless you have some serious knowledge. Most of us use the stock market to gamble instead of investing.

All (up to $100,000) of your money that is in savings accounts is safely secured by the federal government, even if the bank closes. Do not worry about all the dramatic stock fluctuation as it will only give you stress. Instead focus on putting your money into high-interest savings accounts to invest in your future.

Lastly, do not listen to what news people on TV are saying about the financial crisis (for the most part). They get more ratings by scaring you and will constantly contradict themselves every single day. Instead, just turn off the TV and go outside.

To recap: Do not worry, save, turn off TV.