Thinking about Banking
Before attending the NuVision workshop, all I knew was that credit was associated with money and credit cards, and that it was similar to taxes in how you would have to owe money for using it. Also, I believed that saving money involved storing it in the bank, and that investing had to do with the stock markets. Thankfully, in addition to my parents, the Think.Tank.Challenge provided by NuVision has provided me with some information about saving money. With the help of NuVision’s workshop, not only have I been reminded of how important it is to understand finances, but I’ve also learned some tips on how to be smart with my money.
NuVision’s workshop has provided me with some useful information and tips to help me understand the importance of things like credit and saving money. Thanks to NuVision, I’ve learned that a credit score influences reliability in the eyes of a person or company that could potentially lend me money – if I show I’m a reliable spender, and avoid accumulating massive debt, I have a better chance at receiving credit in the future. NuVision’s workshop also taught me that a reliable amount to put aside for emergencies was about three to six months’ worth of my annual pay. Before attending the power point presentation, I thought I wasn’t supposed to start saving up for retirement until later in life, but I learned that you’re actually supposed to start saving for retirement in your early twenties. Attending the NuVision workshop gave me some potentially helpful information that I can use later in life.
Once I start earning a steady income, I can apply what I’ve learned from NuVision to properly save and use my money. First, I know that I need to start saving money for retirement as soon as possible, so that I can accumulate more over time to help me later in life. Also, the Think.Tank.Challenge has reminded me of the importance of talking to professionals about how to properly handle my money, especially since there’s still a lot I need to learn about investments. Most importantly, NuVision has taught me that I need to be responsible when it comes to credit. I need to be careful with how I spend my money so that I can prove how reliable I am with payments and spending my money, increasing my chances of, for example, receiving a loan that I may need to buy a car or even a house for once I’m out of college. In short, the NuVision Think.Tank.Challenge. has reinforced how important it is for me to start thinking about money soon, especially now that I’m about to enter college.