Reach For The Stars is partnering with Money Makes Change of University of Virginia to bring a workshop on financial literacy. Learn how to manage your finances and spend money effectively (especially in college)! Stick to the end to enjoy a live Q&A from UVA students.
Time & Location
Mar 21, 2021, 11AM EST
The Reach For The Stars Finance Webinar took place on Sunday, March 21st at 11 AM EST. The webinar was split into five sections: basics for budgeting, portfolio and diversification, benefits of diversification, financial decisions for college, and considerations to take into account. Throughout the webinar, the speakers asked questions to the audience in order to gauge their understanding level and tailor the discussion to the audience’s prior knowledge.
To start the webinar, the audience was asked how income should be spent. The speakers showed how 50% should be for needs, 20% for savings, and only 30% for wants. The audience was then guided through a few examples and asked how much a person should be spending on certain items.
Next, the presentation moved on to talk about portfolio and diversification. Here the audience was taught what these two terms mean, what they encompass, and how they are helpful. The audience participated in this section by providing examples of different assets one can attain.
In the benefits of diversification section, some points brought up were that diversification reduces emotional-decision making and aids in long term outperformance.
The fourth section dealt with financial decisions for college. Here the audience was informed on application fees, tuition fees, and the financial advantage of only applying to universities you would intend to go to.
Lastly, the speakers went over considerations to take into account for choosing a university including program strength and financial aid or scholarships.
Overall, the speakers delivered an informative presentation to help young students in their future financial endeavours. Reach For The Stars met their objective of educating youth about finance.