WBL Workshop #6

The last WBL Workshop that we had was about basically financial management,  how to be wise when it comes to handling a good amount of money, know how to save, how to spend and invest so we could at the end see the positive outcome. The first thing was to go over bank accounts in which included how to use both credit and debit accounts and how to read statements. I think that for the most part that is where people start failing, when they do not fully understand their statements and for some reason think that the amount is right or that the interest is okay when it really isn't necessarily you who is making a mistake. We also learned about the importance of paying your credit cards as soon as possible to avoid any charges or fees which i agree in being so true. I am a believer in that paying the minimum just doesn't do much but creates you more problems so its always a good idea to pay more than the minimum if you are able to. Another thing i found useful was knowing exactly what comes in your payroll. It is important to know the deductions so you know exactly how much gets taken from you. For example the social security money that the government takes, medicare, federal, state and local tax as well as workers compensation. How to find the income was also explained to us. We were also told about the importance of saving money and how so many people end up spending the money they do not have via credit cards. And pretty much how investing will create a huge change on our lives.