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Seminar PortfolioIndependence Junior College26thFebruary, 2022Karyn Foreman
Table of ContentsIntroduction....................................................................................................................................3Reflections......................................................................................................................................4Week 1.........................................................................................................................................4Week 2.........................................................................................................................................5Week 3.........................................................................................................................................6Week 4.........................................................................................................................................7Week 5.........................................................................................................................................8Week 6.........................................................................................................................................9Assignments..................................................................................................................................10My personal goals.................................................................................................................10-11Needs vs. Wants.........................................................................................................................12Personal Budget....................................................................................................................13-14My Business Plan.................................................................................................................15-16Conclusion....................................................................................................................................172
IntroductionMy name is Karyn Foreman. I am 18 years old and I was born and raised in IndependenceVillage. If my friends should describe me they would say that I’m smart, very hard working, Ilove to take risks and I am very loyal. I do presume to be a bit shy but I still always stand up formyself. I have four other member of my family whom I live with. I’m a picky eater so I alwayscook for myself instead of buy food. My favorite color is navy blue and my favorite sports arebasketball and volleyball, even though I’m not good at either. I believe that financial literacy isthe education and understanding of knowing how money is made, spent, and saved. As well asthe skill and ability to use financial resources to make decisions3
ReflectionsWeek 1From week 1 I’ve learned how important financial literacy is, due to the fact that financialliteracy help families to balance their budget, help them to buy a home, fund their child’seducation and ensure income after retirement. I am so excited to learn more about how financialliteracy will change my way of living. I want to learn about how to budget my income. I want tolearn how to separate my needs from my wants. I want to learn more about how to navigate mygoals as a teenager. I believe that financial literacy is so important especially if you get to learnand understand it at a young age. You will be able to live a good life by the time you turn 50 andI believe that is really important. Financial literacy is a really great thing to be knowledgeableabout and I am so grateful that I’m getting the chance to learn about financial literacy at the ageof 18. My life is just about to start and this will help me in the longer run, I am excited and alittle bit nervous, today’s session was really good.4
Week 2In today’s session we learnt about needs and wants. I believe this was a really good topic due tothe fact that one who can separate their needs from their wants have an advantage over other. Thedifference between a need and a want is very easy to differentiate because I need is somethingyou can’t live without and a want is something that you desire to have. For example; you needfood to eat in order to survive and you want a new blouse for school tomorrow. You need thefood but you don’t need the blouse you only have a desire to buy a new blouse when you alreadyhave so many. Saving also was a great topic. I believe that saving is important due to that factthat saving can help you in so many ways. Savings money is important because savings can helpnavigate tricky situations, meet financial obligations, and even build wealth. Some financialpitfalls you should avoid is living paycheck to paycheck, unnecessary spending, never-endingpayments, not investing in your retirement. All of these financial pitfalls may lead you going intopoverty.

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Term
Fall
Professor
jane
Tags
Want, Karyn Foreman

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