Day 1 - January 4th

  

Day 1 - Personal Finance

January fourth was our first day of the personal-finance A-Term. We spent the morning going over the major projects of the course, most notably the game of life which we began working on in the afternoon. Additionally, we had a quick seminar on the introductions of two of the three books that we will be reading for class. After this, we went over some graphs showing the importance of saving money and collecting interest in it early in life. After this, we were introduced to the game of life which as far as we know right now will be a simulation of the expenses and earnings in our lives. All though for now all, we have been concerning ourselves with our time in college. This concluded our morning and we had a nice lunch break.

In the second half of the day, students began to give the presentations that they had prepared for the class. Mateo and I gave a presentation on the functions of banks as well as the different types of accounts you can hold in a bank. We discussed the 8 different types of banks as well as how banks are regulated. Oscar and Reagan taught the class about credit cards and what pitfalls to avoid when using one. They also discussed the proper time to get a credit card and what benefits some credit cards can provide. Andres and Gabe then gave an informative presentation on the importance of staying out of debt and how to prevent going into debt. They also provided strategies for how to recover from debt without going bankrupt. For the rest of the afternoon, students worked on filling out their “Game of Life” spreadsheet which is a budgeting tool to help estimate costs. Today, we filled out a section on college expenses and collected data on how much we can expect to pay from tuition to medical expenses. Overall, the class had a very informative and productive first day and we all look forward to learning more soon. 


Mateo Sanchez and Andy Walsh 


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