My Career and Financial Planning Blog

In the Financial Literacy class we took, we learned many things about "how to manage money" We go over a lot of definitions concerning real world scenarios. We go over pay stubs and how to read them, we went over bank accounts and how to manage your money efficiently with a budget. We even did an online stimulus which we got our own income and we had bills to pay like what we will do in just a few years. Without this many people feel overwhelmed when you first get to college and reality hits you and some people would say. With the knowledge and definitions we discussed, I think we all feel more prepared.                                                    

In the everfi insurance module, we discussed a lot of things concerning sales tax. As well as that sales tax are not included on your pay stub. Taxes at the federal, local and state are all different. Starting a new job you must fill out a W-4 form and that young, inexperienced drivers have the most high package for auto insurance.

In the Everfi module, Credit Scores taught about how I could look for somethings to know if a potential buyer is the right one. You should check their credit score, if they are trustworthy, and how they their money. As a teenager, I found out that I can develop credit by being an unauthorized user on your parent's credit. As an adult to improve your credit you can pay your bills on time as well as paying off what your borrowed from the bank. A credit score is important to your life because to move further in your life such as, buy a cur or a house, if you have a low credit score you won't get that opportunity. 

The Everfi module Payment types discuss money orders, which is a way to pay up front wihtiut the check bouncing. It also talks about a debit card which is a card linked directly to your bank account. A credit card is a card that lets you borrow money  to make a purchase.

Banking is a very essential part of life. I learned about the Federal Bank located in Washington D.C. A credit union requires membership. The least important part of a check is the memo line.

The way to make more money with your money is interest. Interest is when the bank gives you money for saving, the longer you don't touch the money the higher the interest rate will be. Another way is Compound Interest which is when you make interest on th money thats saved in the account and you also get interest on your interest. Inflation is a general increase in money according to Everfi.

In my class we have been in a simulation for us to learn how to balance a budget with bills and everything that would happen when we live on our own. My bills started to have a rocky start and I went into debt because of the first and last down payment on my apartment. The cash flow spreadsheet is used for the purpose for us to keep track pf how much money I need in order to successfully pay my bills without going into debt afterwards.