ALIKE Zoom Training Session on Financial Literacy January 2022

Community members were taught that financial literacy is vital to make better financial decisions to build stability and flexibility for our organization and in our personal lives both today and in the future. Financial literacy helps with effective management of money and debt. It will equip us to reach our greater financial goals. This includes reduction of expenses through better regulation. A guest presenter, Jessica was invited to discuss the RULE OF 72. The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. This is a great motivation to get your finances sorted. Ways to get our finances in check and achieve financial freedom • Understand Where You Are Presently • Learn How To Budget • Write Down Your Goals. Research shows that writing your goals down makes them seem real. So, you are more likely to work toward them and achieve them • Track Your Spending • Pay Yourself First • Spend Less- Purchase what you need not what you want • Pay Off Your Debt • Always Keep Your Career Moving Forward • Create Additional Sources Of Income