Think. Tank. Challenge
Have you ever thought about at what age you want to retire? Have you tried saving money for your future? Would you like to be the person that will retire their parents in the near future? After those quest ions were asked by Ms. Rose Macias, I started to ask myself those question s and ask myself how much I am doing to reach my goals to able to save money for my future without asking for help. After learning many lessons from Ms. Rose Macias, it influenced my choices and my goals, and I’m now ready to apply them to my everyday life.
Before Ms. Rose Macias came to our school to talk to the students about money and how we can save it, I never really thought about saving money or having a credit card with a perfect credit score before attending the workshop. I always thought I was too young to think of saving for retirement. She really left an impact on me, showed me how I could help my family through financial problems and prepare for my future after high school. Before this workshop, no one really explained the Rule of 72, rate of return, inflation, and how to reduce the impact of taxes; everything seemed to be very complicated, very hard to understand, and just didn’t seem important for the younger generation. I thought I was too young to think of acquiring savings accounts right now, but after the workshop, I realized how the economy is unstable and how everything is moving so fast around us.
Same of the many lessons I learned was how to be more aware of how I spend my money on my everyday needs, how to find cheaper choices or options, and how to look for the choice that saves the most money because every dollar is important. Spending money for essential needs and not on luxury is something I learned, and it had an impact on me; for example, instead of buying a cup of coffee that costs 10 dollars, I can make it at home and take it with me, and it wouldn’t cost as much as 10 dollars for a cup of coffee. This is just one of many instances where I would be able to save a couple of dollars.
After, I started applying this new found knowledge in places where I spend too much money such as buying books. I love reading, and I keep buying books, but most of them are 15 dollars or more, and it didn’t seem much until I bought 3 or 4 books. It started to really add up, so after the tips Ms. Rose Macias gave, I decided to start borrowing books from the school library. When I’m done, I can get more books while still saving money. By the end of February, I saved at least 15 dollars that were very hard to save; now it’s super easy, and it will definitely help me a lot in the future, so I will use it with everything I do.
Overall, I learned a lot from the workshop, gained so much information, and made my own list of steps that will guide me towards a more stable future. On my top of the list is to establish a credit card as soon as possible and keep track of my credit score for life after school. Also I downloaded budgeting apps that keeps track of how much I spend weekly and monthly. It shows me where my money goes and how I can keep saving more for the long term, and how keep some of the saved money for emergencies in case something unexpected happens in the future; I would be prepared for it. I don’t see or value money like I did before; this workshop completely changed my perspective on finances and how we deal with money. Therefore, I’m forever grateful for this workshop and the tips and strategies that were given to us.