Better money habits workshops8/18/2023 ![]() ![]() The Financial Basics e-learning videos: The knowledge you need to improve your money management skills. Remember that a financial plan is a living document, meaning it should be kept up to date. There are several types of credit products. If despite all these precautions you are taken in by a fraud the first thing to do is notify your financial institutions as soon as possible. Creating a budget Forming good money habits Money saving tips. It’s about real problems, and real solutions too. Our redundancy workshop looks at a range of topics in a supportive environment. Small changes in your spending habits will result in big savings over time. It doesn’t have to hard, complicated or full of sacrifice. The first step on the path to financial success is understanding that you are in control of your financial future. The videos cover topics like.How do I prepare a budget? These videos are engaging, easy to understand, and – best of all – it’s about something that really matters to people – money! The initiative is a testament to the bank’s commitment to financial education and its dedication to improving the lives of people across the United States.Here’s an e-learning video series produced by Ryerson University and the Financial Consumer Agency of Canada, developed to enhance the Financial Basics workshop, or to be used by self-learners. “I feel more confident about managing my finances in the future.”īank of America’s financial education courses provide a crucial service to underprivileged communities across the Inland Empire, giving students the skills they need to manage their finances effectively and set themselves up for a successful financial future. “I learned a lot about credit scores and budgeting, and how to manage money effectively,” said Rialto High School Student Krista Stuart. The impact of the courses was felt by the students themselves, who praised the initiative for teaching them valuable financial skills. We wrapped up the sessions with “Smart Credit Moves for Students,” which discussed credit reports, credit scores, how to build and establish good credit, and how to use credit wisely.” “The final week discussed financial safety and touched upon keeping your finances and information protected. ![]() The sessions also covered “Banking Basics,” which included information on how banks work, interest, and different types of accounts,” continued Adams. “The Better Money Habits” sessions focused on several topics, including our “Student Guide to Managing Money,” which covered topics such as understanding income and expenses, budgeting, adjusting spending habits, and how to start saving. Build a monthly budget One of the first steps to building better money habits is to create a monthly budget and follow it every month. This lack of financial literacy disproportionately affects underprivileged communities, where access to resources and education is limited. According to a recent survey conducted by the Financial Industry Regulatory Authority (FINRA), nearly two-thirds of Americans cannot pass a basic financial literacy test. The lack of financial literacy education in underprivileged communities is a pressing issue in California and the United States as a whole. Adams, Bank of America vice president consumer banking market manager, Inland Empire. Sharing financial education resources and tools through the Better Money Habits materials provides a foundation to make financial lives better, and help fuel economic mobility for individuals and families,” said Jessica R. Many students we met have a dream of continuing their education, buying a home, being financially stable, and having a career. “Financial literacy provides our communities with the knowledge and tools to help make confident, informed financial decisions to shape their future. The CTE program provided the perfect opportunity to teach students the importance of financial literacy and the basics of managing personal finances. The students were taught by local Bank of America bankers who shared their knowledge on budgeting, money management, credit-building, and how to manage first paychecks.īank of America has long been a proponent of financial education across the United States, offering free courses in English and Spanish to underprivileged communities, including the Inland Empire. Students, from Rialto High School, Carter High School, and Eisenhower High School, were given a 12-session comprehensive education on financial literacy, as part of their Career Technical Education (CTE) program. In February 2023, more than 1,000 local high school students in Rialto received a crucial financial education boost, thanks to the efforts of Bank of America volunteers.
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