¶ … pursuit of my MBA and CFA certification, is why I am interested in the business and financial world. My answer is not an academic one, but one rooted in the knowledge of how a failure to engage in appropriate financial planning can have an impact that ripples throughout one's family. I began my college education by attending Hudson County Community College (HCCC), where I initially majored in engineering. However, like many people in my age group who come from less affluent beginnings, I was unable to devote myself full-time to my studies. In addition to having the responsibility of paying for my own education, I also felt responsibility to help support my family. As a result, I did not have the time or attention that I needed to devote to my studies. My grades suffered and, in reality, I was in danger of becoming a college dropout. This would have perpetuated a multi-generational cycle of not being able to make a sufficient income to support savings, and would have resulted in my children experiencing the same type of financial hardships that I was experiencing. That entire experience reinforced, for me, that while one should never judge a person's merits based on his or her access to wealth or even on the ability to engage in appropriate financial planning, it is, nevertheless, always appropriate for a person to expand one's business and financial knowledge as a way to avoid personal and professional financial calamities. I consider myself very fortunate because I took my flagging grades at...

I transferred to New Jersey City University (NJCU), where I changed my major to biology. Initially, because of economic concerns in my family, I needed to continue to work while I was at NJCU, and I found that the change of school, alone, was not enough to change my conditions. I found my grades in peril, as they had been at HCCC, and I realized that I needed to make a life change, not simply change educational institutions. I worked hard to put myself and my family in a position where I could stop work and focus on my education. I knew that I could reach that financial goal more quickly if I took a break from my education, but I also knew that, statistically, if I withdrew from college, I was unlikely to ever return. I knew I had to examine long-term goals, not simply short-term goals. As a result, I worked multiple jobs to put myself in a position where I could stop working. When I was able to do so, about a year and a half after I transferred to NJCU, I saw an immediate improvement in my grades. Since that point in time, I have maintained an exceptional grade point average, which I anticipate I will maintain through my May 2014 graduation date.
What I learned from my experience is that a lack of appropriate financial planning can have devastating personal consequences. Due to a lack of adequate financial planning, my extended family found themselves dependent upon me…