Once people hit the age of twenty, they start to concern themselves about employment.  However, at this age, the concern about money is no less than the difficulty of employment. Thus I will suggest the best answer about to DKU students' how to save money' and ' how to spend money wisely and to share it. Before taking up the subject, let us first answer the quiz to test your financial knowledge.

Financial Quiz

1. Only the Bank of Korea has the authority to issue Korean money O/ X
2. The overdue charge on mobile phones is not related with bank transactions O/ X
3. If collateral is present, a loan is always possible  O/ X
4. Which of the following statements about the ATM is False?
 ① You should always keep a bank account and an ATM card.
 ② ATM’s are readily available 24 hours.
 ③ It is possible to acquire general bank account information through ATM's .
 ④ No matter where you are in the world, if there’s an ATM, you can withdraw cash.
5. One day, you lost your credit card and report it to the credit card company immediately. A step too late, the card was already used to purchase something for 2 million won. In this case, how much would the credit card company compensate you for?
 ①. They have no responsibility to compensate.
 ②. 20 thousand won per stolen card
 ③. 5% of the money used 
 ④. The entire amount of 2 million won.
※Correct answer and explanation are posted at the end of this article

The phrase money is everything in life' is surely wrong. However, the words 'money is a means to make our life more rich' is certainly true. Those parts mentioned by DKU is the main subject that will introduce the vivid success story of a so-called 'master of money' by type. Let's go to the true meaning of money while we read their success stories.
 
* Making Money 
1. Jo Woo-Taek( 24 years old/ the Dept of Administration in Hoseo university. 06 student.) started to work to make pocket money at 20 years old. Now he works 8 hours a day on average and makes about 38 million won yearly. Additionally, he owns a car, and deposits money to a fund and installment savings periodically. To his surprise, he established all these by himself.
And he is a good student. The thought "how about his credit?" hits me. He is an honor student who never failed to gain excellent  grades for 3 years. He said " As I  manage a shop, I have  a lot of interest in money compared to the youths in my age. However , I think money is the means necessary for preserving life, but money is not the very object for itself or the subject to be pursued" and added " It is certain money is the means to make life rich. Additionally, making money is important, but how to spend and manage money is the most important"   He said that presently he had to prepare pre-operation and market surveys earnestly due to his plan to open an internet shopping mall this winter as well as managing his shop. He finished the interview by clarifying his dream to make his name known to the service industry in the future.

▲ He is taking inventory in his store.

2. Jang Ji-Yeon ( 20 years old/ Dept of English in Dankook university, 09 student)  left for the USA to study a language training course on August 28. Her dream is to become an ' English teacher'. She has prepared for the dream at the Dept of English in our university step by step. Her method for making money is a 'win-win' strategy. She taught English to 1st and 2nd middle school students where she lived, She was dedicated to learning study guides and self -teaching manuals of middle school english in order to teach students better. As she came  to understand not only English grammar but also a general knowledge of English which could be helpful for her to study  her majors and TOEIC. She won a Danwoo scholarship twice and received the scholarship granted to the first of grade in the last semester. It is so nice. She acquired all these through english study  : ① study for major ② TOEIC study  ③ scholarship  ④ the basis for a good english teacher  ⑤ experience for social life ⑥ a pleasure for parents  ⑦ money .  She acquired 7 fruits at a time. Additionally, she added her money to that from an institute and scholarship to the expense for oversea English training course. She finished her interview with saying " money is important, but making money should be limited so as not to prevent schoolwork. as we are students, dedication to schoolwork is the duty of student".

* Expanding Money
1. JangJeong-Soo (26 years old/ Dept of Civil and Environmental Engineering in Dankook university, 04  student)
gathered money by extracurricular work and an internship. First, he thinks money is a proper compensation for working as well as a simple indicator and an abstract goal. Then how could he make money? Also, why did he want to maximize money? He needs money because he wants to do something and it needs money within 3 years. Meanwhile, he found the way to expand money and those were 'funds' and 'stocks'. Ultimately, through a 'true friend 10-year value investment' 1.9million won became 2.25 million won. Also, he made a profit with a fund by a little less than 30%. It took 2 years and he got much self-confidence regardless of the sum of money. Moreover, he's still doing 'funds', 'stocks', subscription deposits, insurance and fixed deposits. 

2. Jo Moo-Seok (23 years old/ School of Business Administration in Dankook university, 07 student) collected money by physical labor like setting up stages and working at a distribution center. He expanded money just like Jang Jeong Soo. His best rate of return was 27%. He did that for 6 moths and increased his money from 2 million to 2.9 million. He thinks the important thing is not how much but how to plan systematic assets. For example, he always considers terms of investment such as short, medium or long term. Moreover, he is now doing part time jobs and doing a Samsung group fund investment.

* Spending Money
Kim Ji-Yeon(20 years old/ Dept of English Language and Literature in Dankook university, 10 student)) receives an allowance 250,000 a month. With that pocket money, she uses 100,000 for eating and socialising. 50,000 is used for saving at Shinhan Bank. And finally, 20,000 is used for house subscription overall saving. She writes records of her spending to manage her finance to perfection. "It's the most vital part of monetary management. It's the basis of all. When you write it everyday, you can feel where you should use money or not." She finishes her interview after advising us of this.

▲ Her name is Kim Ji-Yeon(20). She is thinking about something after feeling happy. How to spend money in my hands?

* Sharing Money
Choi Ki-Chul(22 year old/ School of Business Administration in Dankook university, 08  student) became a member of 'World Vision'. He donates money by getting out 1000 won from his bankbook once a month. When he was young, his mother told him to do that. Since then, he has done it for 2 years at 'World Vision' voluntarily. It's not that much money but he spreads sincere warm feeling every month.

So far, we looked around 4 things available to be done with money through the interview. Making money, increasing money, spending money, and sharing money makes all important. While I prepared this article, I checked those facts I did not know and the misunderstandings too and came to have a better understanding about money(finance) . I sincerely hope this article can plant the right concept for money in Dankook students, and can be helpful to make their life rich a bit.

Correct answers and explanations.

1. O. the Bank of Korea is the only institute possible to issue money in Korea. Other banks can issue checks, but can not issue money
2. X. Communication companies share overdue information with each other through the Information and Communication Industry Association. Even the large amount of overdue fee for mobile phone can be informed to financial institutes through the institute collecting the information of credit transaction. Accordingly there could be some limitations with bank transactions including new loan.  
3. X. Though collateral is surely certain, bank allows loan only to the borrower with no problems after looking around some facts like where a borrower will spend the money borrowed from bank and whether the borrower can preserve the lowest living standard after paying interest.   
4. ④. In the case of drawing money in a foreign country, many limitations and expense are associted with it.
5. ②. In this case, members who lose or have their cards stolen, should report to the credit  company by phone or written document at once, fraud charge can be indemnified in cases that follow the process only. But 20 thousand won per a missing or stolen card should be paid as the fee for handling indemnification.