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Unformatted text preview: 1 Reflection: Personal Finance Basics Jamie L. DuRocher Grand Canyon University UNV 103: University Success Dr. Squire November 7, 2021 2 Reflection: Personal Finance Basics I feel that the main idea I learned about personal finance and financial literacy this week is that it is important to be aware of your finances. Having a backup plan in place is a sound decision even if you don’t plan on disaster or failure, because you never know what is going to happen. Also, there are lots of tips and tricks that you can gain through talking to others and in articles on how to save money and spend wisely. The tips and topic in the articles I read this week will help me guide my decisions by reminding me that little changes can make a difference. Not everything about financial decision making has to me a huge chore or a crazy amount of time spent budgeting. It can really be as simple as little decisions that you make every time you spend money. Putting something back on the shelf that you don’t need. Taking the time to think about my priorities before I spend my money will make an impact. One financial area that I feel I really need growth in is saving toward the future, I would prefer to not have to work right up until the day that I die. Currently all my savings have been for emergencies like replacing tires on a car or if my washing machine breaks or an unexpected medical issue. I am glad to be able to have that but saving up for retirement is a goal of mine. I know there are a few places in my spending I could cut back on but ultimately a higher income job would be the most helpful. My program of study should have a positive impact on my financial security. Even at entry-level, a job in human resources pays a lot better than a job as a teaching assistant or habilitation and respite provider. Working my way up in the human resources field will provide a significant salary increase. I have been able to save for emergencies with my current job, but by completing the new program, I believe I will be able to make contributions toward retirement. ...
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