Be Smart About Your Future: Risk Management and Insurance (Be Smart About Money and Financial Literacy) by Amy Graham

Hard Times
Chapter 1

 James always thought he led the typical life of an American 
teenager. He got average grades, played on his high school soccer 
team, and enjoyed hanging out with his friends on the weekends. 
His family did not have a lot of money, but his parents were hard 
workers. There always seemed to be enough to cover the family’s 
needs. 
Then when James was sixteen, something happened that 
changed his life forever. His father, Paul, had a heart attack after 
returning from one of his daily morning runs. By the time the 
ambulance arrived, the EMTs were unable to resuscitate him. 
Paul was pronounced dead upon arrival at the hospital. 
Over the following weeks and months, James and his sisters 
grieved the loss of their father. Their mother was completely 
overcome with sorrow and shock at the death of her husband. 
Neither she nor Paul had seriously considered the possibility 
that he would die in his thirties. As a result, they had not made 
financial plans for the family in case of his death. 

The family had some money set aside 
in savings and that covered the costs of the 
funeral service. James’s mother had a part
time job, but she did not make enough 
money to cover the family’s expenses. 
She knew she had to find a full-time job; 
however, she was so overwhelmed with 
grief that she found it difficult to go about 
her day much less begin a job search. 
As the oldest child, James felt responsible for his family. 
He found a job in a warehouse and worked after school and on 
weekends. He turned his checks over to his mom to help pay 
the bills. Even with this extra income, the family could no longer 
afford to make the mortgage payments to the bank. None of them 
wanted to leave their home where they had many happy family 
memories. 
As they struggled to make enough to pay for their groceries, 
it soon became clear that they had no choice but to move. They 
sold their home, packed their belongings, and moved to a small 
apartment they could afford. James’s younger sisters were sad to 
move away from their friends and neighbors. James looks back at 
that time in his life as the hardest thing he and his family have ever 
been through. 
After a year, James’s mother found full-time work and 
things began looking up. James graduated from high school and 
attended a nearby community college to get a business degree. 
He continued to take part-time jobs in college to help support 

Be Smart About Your Future: Risk Management and Insurance (Be Smart About Money and Financial Literacy) by Amy Graham