Poor money management amongst americans Essay Example | Topics and Well Written Essays - 1500 words

Poor money management amongst americans - Essay Example Money management is also significant in assessing the possible impacts of engaging in risk taking, especially where there are uncertainties. An individual draws a plan indicating the amount of money that he/she can risk to satisfy the needs and also remain on the safer side (Belk et al 2003). For the people trading in stocks and gambling amongst other businesses with high risk, money management is usually a significant tool to form the basis of decision making. It helps a person to be in control of his/her income and expenditures, whereby the expenditures are maintained at minimum levels compared to the income. Budgeting is one of the major tools for money management. It is important in giving guidelines for purchasing decisions. This paper is a critical evaluation of poor money management amongst the Americans. The reasons why Americans are so affected by the economy and what they can do to manage their finances better have been discussed. One of the aspects of poor money management is usually exhibited in the problems with personal debts. It happens that house holds have access to debts on their credit cards which they are free to use at any time when need arises. This can be a very helpful possession especially in case of eventualities that require money since an individual can settle family needs without much struggling to acquire finances. However, it becomes a problem when not effectively used. It has been established through studies that many Americans use credit cards without consideration of the fact that they accumulate debts which will have to be repaid at the end of the month (Evans et al 2006). Simple loans and overdrafts to satisfy personal needs are also a major contributor to the amount of debt that needs to be settled at the end of the month. When this time comes, the salary received is used to reinstate the debts owing, which leaves a person with little money to

To what extent do computational models support constructivist theories Essay

To what extent do computational models support constructivist theories of development - Essay Example On the other hand, few theorists declare it the outcome of child’s interaction with his environment, from where he learns how to act, react and behave at some specific situation. Several theories have been articulated on cognitive development, and researches have been made on different aspects of development in children; four of which have most significant influence on the language skill as well as kindergarten learning process during the initial years of children. These theories include Nativist, Maturationist, Environmentalist and Constructivists ones. Since the study of personality development is an exceedingly complex phenomenon, several theories have been articulated on the question of how a personality passes through different phases of growth from childhood to adolescence, and what are the components which determine transformations in a child from premature years to maturity. In addition, theorists analyse whether the behaviour in people is a learned one or man’s behaviours are due to uncontrollable genetic impulses. Also, variation in intensity of aggression and violence among people is due to difference in their hormones. â€Å"The only influence†, Cervone views, â€Å"which parents would have on their children’s personality is a biological one. They pass their genes on to their children. According to the trait theories, parents’ interpersonal interactions with their children would exert little effect on the child’s personality development.†(2001) Various cognitive theories have bee n articulated in order to examine the role of nature vs. nurture in the development of a personality. All the cognitive schools of thoughts have different views and ideas on child development process, though constructivist theory won imperative popularity and wonderful applause more than the comparatives theories. Piaget and Vygotsky are the pioneers