As part of an attempt to increase Long Beach City College students’ knowledge regarding savings, budgeting, credit, debt, and taxes, students were asked “If you had $1,000,000, what would you do with it?” during the All About Savings workshop on September 30.
Learning and Academic Resources Department instructor, Grecia Iniguez said that at these workshops students will be taught a variety of practical tips like, “what should I do if I get an extra hundred bucks?”
“It’s a combination of better decision-making skills that are money management tips. All these things improve quality-of-life,” said Iniguez.
At the beginning of the workshop Iniguez handed out a self-assessment packet that allowed students to reflect on their current finance choices and assessed their short and long-term goals.
First year student Marissa Calderon attended the savings workshop because she’s had past experiences where members of her family would have benefited from financial education.
“I wanted to check out this class because I know a lot of my family have trouble with money. I don’t want to make those same mistakes,” said Calderon.
When answering what she would do with $1,000,000, Calderon said that she would save half of it for future investments. Other students said they would buy a house or start a business.
Iniguez also shared with students the importance of language when it comes to financial education.
“We want to get comfortable with the language of the business, which is the language of money: debt, scholarships, grants, money, income, jobs, and have those conversations so that it’s not something that you fear or feel embarrassed to talk about, because nobody in your family or nobody around you knows,” Iniguez said.
Alexis Redmond, co-coordinator of the workshop said, “I think that LBCC is making it an easier part of the conversation and by supporting these workshops it’s showing that they see the value of being a well-rounded adult: knowing how to manage your finances.”
At the end of each workshop students have a chance to win prizes like gift cards and t-shirts, as well as a certificate of completion for all those who qualify.
Throughout October, additional budgeting, credit, debt and taxes workshops will be held Mondays and Wednesdays from 12pm to 3pm at the LAC and PCC Multidisciplinary Centers.