Financial Mastery: Budgeting and Saving For Financial Wellness
Embark on a transformative journey to financial wellness with our workshop on Budgeting and Saving at the Financial Empowerment Center. This session is tailored to empower you with practical skills in budget creation, effective use of budgeting tools, and the importance of savings and emergency funds. Join us to unlock the secrets of financial stability and resilience.
Date, Time, and Language
ENGLISH - April 9th, 10 a.m. & 6 p.m.
SPANISH - April 23rd, 10 a.m. & 6 p.m.
Aurora Financial Empowerment Center, 712 S. River St. Aurora, IL 60506
1. Budget Creation and Importance:
Understand the step-by-step process of creating a personal budget, including income assessment, expense categorization, and setting realistic financial goals
Explore various budgeting tools and techniques to effectively track income and expenses
Recognize the significance of budgeting in achieving financial stability, reducing debt, and achieving long-term financial success
2. Importance of Savings and How to Build One:
Grasp the basic concepts of savings
Learn to set realistic and achievable savings goals based on short-term and long-term financial objective
Explore different saving strategies, such as the 50/30/20 rule
Understand the importance of having a dedicated emergency fund and how it differs from regular savings
3. Defining Savings vs. Emergency Fund:
Clearly differentiate between savings and emergency funds, understanding their distinct purposes and how they contribute to financial security
Learn how to calculate an appropriate emergency fund amount, considering factors such as living expenses, job security, and health-related costs
Understand the circumstances under which it is appropriate to tap into the emergency fund and how to replenish it after use
Discover how emergency funds fit into a broader financial plan and contribute financial resilience. Do not miss out on this opportunity to gain essential skills for budgeting and saving. Join us and take the first step toward achieving financial wellness and a more secure financial future.