A B Ready Code:  Habits 7 and 8

Hello, and welcome back to A B Ready.com. This is the fourth of five short videos about the A B Ready code, a list of ten habits guaranteed to help you succeed in school.

Habit #7: Do Your Homework Everyday and on Time

This is the single most effective way to raise your grades. So many of the students I have worked with simply don’t do their homework on a regular basis. When teachers weigh the Homework category of their grades anywhere from 10% to 33%, you can see how much homework can influence a grade. Even if a teacher doesn’t factor in homework as part of the grade, it’s still a good idea to get into the homework habit because good homework gives you more time to practice essential skills on your own. Besides you learn important life lessons by doing homework. Let me explain.

I think you would recognize this item I am holding as a credit card. Now here’s the good news about credit cards: they are so convenient. The bad news about credit cards is that the credit card companies can charge interest and fees. If you pay the whole amount due each month on time, then, you don’t pay any interest or late fees. But if you don’t pay the whole amount due, the credit card company will charge you interest which can be as high as 29% of the amount that is due. And, if you don’t pay on time, the credit card company will charge you a “late fee” which could be $20 or more. Interest and fees add up quickly to increase your credit card debt. Now, here is an example of the information found on a credit card bill. Notice the amount due is $343.25. If you pay the whole amount due by the date the bill is due, then you pay no interest and no late fee which is great. But if you can’t pay the whole amount, you have to pay at least the “minimum payment” which in this case is $25, which sounds pretty good because that’s all you have to pay to keep the credit card company from bothering you. But look at the “minimum payment warning.” If you only pay the minimum payment, it will take you about 17 months to pay off the debt you owe. Instead of paying $343, you end up paying $402. That’s $59 in interest, your gift of free money to the credit card company! And that’s assuming you don’t add a penny more to your credit card account…for 17 months! And notice what happens when you are late paying your bill, even if it’s only by one day: a $35 late fee! Now, notice the rate of interest the credit card company charges: 22.99%! Do you know how much you can earn in interest if you put money in a savings account at a bank? Less than 1%! Does that seem like a good deal? In fairness to the credit card companies, I have to say that I have also considered that the credit card companies’ high rate of interest on credit card debt and the steep late fees would encourage people to pay the whole amount due on time. But here’s the reality. The average credit card debt in the United States is between $7,000 and $8,000. But there is a large portion of credit card holders who do pay the whole amount due on time and who pay no interest and no fees. The average credit card debt of people who don’t pay the whole amount due each month is $17,000 to $18,000! That’s enormous debt that you want avoid.

So, by being compliant, that is, by paying the whole amount due and on time, you are saving yourself a lot of money. Hey, that sounds like Habit #7: By doing your homework everyday and on time, you are learning a life skill that is critical for you in establishing a good credit rating which is used by lenders to approve a loan for a car, a home, or any major expense.

Habit #8: Ask Questions at Every Stage of the Learning Process When You Don’t Understand Something

Too often students think education is about the teacher asking questions and the students answering them. It really is the other way around. Education is about students asking questions in order to learn, and the teacher explaining something so that it is more understandable. Don’t be afraid to ask questions. By you asking, other students will be encouraged to ask their own questions. That creates a climate of inquiry which teachers appreciate. So, from the first presentation of new learning, be curious and pursue questions that occur to you.

So there you have Habits 7 and 8. Click here to continue with Habits 9 and 10 of the A B Ready Code.