Financial Literacy Training

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Queen Sheba D Cisse

Senegal

Feb 27

Joined Aug 3, 2011

Photo Credit: QSV, Inc

Financial Literacy Class. Dakar, SN

1.

The Basic- Financial Literacy Trainings here at World Pulse is a must read and reminder how fundal-mentally important financial literacy is in our lives. We must understand the principles that focus on critical thinking and personal decision making. For me making decisions about my personal finances is paramount. What I have learned and continued to re-learn to educate and update myself from time to time. Read , study , evaluate and read again.

2.

Building A Budget - Budget business practices is in the category of serious financial discipline. Splurge spending influence by temptations and emotions always seem to get us into financial trouble if we are not careful. Setting goals and staying faithful to the plan for a desired financial result is a sure winner!

Do I need It?

Can I afford It?

Why do I want it?

In my late twenties I had to learn the difference between a need and a want whether I could afford it or not is irrelevant. We must beware of the triggers to spend more than we earn. When we can sincerely answered the questions above we set ourselves free and is better disciplined about saving money.

3.

Savings - Budgeting and Savings are twins in the Financial matrix of understand and learning.

One of my understandings of Savings is the amount one has left over after paying many bills called obligational debt. This is money deducted from your earning if you are an employee, investor or trader, etc. Saving is money that is put in a safekeeping mode. You do not invest it nor be tempted to touch it unless and only for a absolute important necessary reason. No consumption allowed. In today's inflation this can be quite challenging which bring us me to speak about Investing.

4.

Investments- What I learn and continue to re-learn if you will.

  1. Establish a financial plans based on your personal goals
  • Be realistic about your goals. Know your expectations well
  • Review your plan at least annually. I review mind plans monthly depending on the case account.
  • Make changes as your life circumstances change. This can be unstable especially in today's climate. Saving and Investing are a twin couple here. If you have not saved well, it's nearly impossible to invest.

One of the my current and future goals for the future is too stay enrolled in financial literacy classes that are available to me in a physical space that I can enjoy and share interactive financial conversations. It's called building blocks interaction.

5.

Borrowing Money- Borrowing money is when someone takes out a loan to obtain money for temporary use, with the intention of returning it to the lender. This is often done to purchase something that is expensive often this amount is high and would take a long time to save for, such as a home, car, business, or education. A good example here is the education school loan that is in the headlines on the news everyday in USA. North America.

Whether it be a house, car or another long term investment -Repaying your loans on time demonstrates to lenders, individuals and other financial institutions that you are a responsible borrower. This can lead to better loan terms and more favourable interest rates in the future which I personally do not trust and we can never control. The interest rates fluctuate and constantly change.

All and all all of these five topics above are a constant learning and upkeep. Of course the last is my lease favorite but we all may have to borrow money from time to time. Billionaires borrow money everyday. It is a part of life. Being responsible and accountable with transparency when accepting others money is right honest ethnics. Donations to a charitable organization is also in this category.

Practice honesty and integrity goals is a great goal.

This completes my homework notes in the Financial Training Assignment.

Thank you for your reading and your time



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Training - Financial Literacy
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