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Pennydrops Anywhere Key Lessons

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As a student who has just completed the PennyDrops Anywhere program, I am excited to share what I have learned from each of the 11 lessons. Overall, I found the program to be extremely informative and useful, and I feel that I have reviewed a solid foundation in financial literacy. The first lesson of PennyDrops Anywhere focused on the importance of money management and the value of setting financial goals. This lesson introduced me to the concept of budgeting and taught me how to identify my needs versus wants. I learned about the importance of being mindful of my spending habits and the value of setting and working towards financial goals. One of the key takeaways from this lesson was the importance of creating a budget and sticking to it. …show more content…

This lesson provided clear and concise examples of opportunity cost in action, and I found the interactive exercises to be particularly helpful in reinforcing my understanding of the concept. One of the key takeaways from this lesson was the importance of considering the potential costs and benefits of different options when making decisions. By understanding the concept of opportunity cost, I am better able to evaluate different options and choose the one that offers the best overall value. I also learned about the importance of considering both the direct and indirect costs of different options, and how to calculate the opportunity cost of different choices. I was asked to consider different scenarios and choose the option that offered the best value, which helped me to see the concept of opportunity cost in action. I also participated in a simulated job interview where I had to evaluate different job offers and choose the one that offered the best overall value, which helped me to understand the importance of considering both the direct and indirect costs and benefits of different options. Overall, I found the second lesson of the PennyDrops Anywhere program to be highly informative and useful. The material was presented clearly and engagingly, and the interactive exercises …show more content…

This lesson introduced me to the different types of savings accounts and the concept of compound interest. I also learned about the importance of diversifying my investment portfolio to manage risk. One of the key takeaways from this lesson was the value of starting to save and invest early. By starting to save and invest at an early age, I can take advantage of the power of compound interest and potentially grow my savings and investments significantly over time. I also learned about the importance of diversifying my investments to manage risk, and how to select investment options that are appropriate for my risk tolerance and financial goals. I was asked to create a hypothetical savings plan and consider the different types of savings accounts that might be appropriate for me. This helped me to see the process of saving and investing in action and practice applying the concepts to my financial situation. Overall, I found the third lesson of the PennyDrops Anywhere program to be highly informative and useful. The material was presented clearly and engagingly, and the interactive exercises helped to reinforce my understanding of the

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The next level is $150.00 and here they start to get more variety of prizes and rewards, maybe an eegee’s party for their class at school, or some gift cards. The final level is $500.00 and here is the final level and the maximum that this child’s savings account will hold. Once they reach this level they can chose from official Wildcat merchandise, or other gift cards. Children believe everything is better once they receive a prize, which is the main reason why this child’s account could be very beneficial. Now that these children have a way to save their money at TFCU, I believe they should be educated about what saving money is and why it’s so important.

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398 Words | 2 Pages

From denial (p. 9) to money myths (p. 49) and ignorance (p. 74), this book tells of what excuses people come up with so that not saving money is easier than saving money. There are some things in this book that I don’t like though.

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1699 Words | 7 Pages

I have seen this situation, this professor reading this paper had seen it and many other people had seen it but the courage with wisdom and disincline are the final victory of human success. This Ramsey book is teaching us to behave good and have purpose, plan and goals in the financial future. It is pointing out that one doesn't need to exceed his income over his spending. From broke time, challenge with courage he finally come to teach us to have discipline about money and how to manage it. It is important and the truth that a person who doesn't have discipline doesn't reach the goal of his life and has no meaningful.

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741 Words | 3 Pages

The overwhelming lessons which I learned from the book are explained below. We all want to be successful and for that, we must take efforts in right direction. If we want to achieve our goals, overcome all the challenges that we face in our lives we must change ourselves, change our habits as given in the book. The roadmap towards success leads through the habits proposed by the author and those habits can be learned by practice and over the period of time.

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864 Words | 4 Pages

Others say, saving up pennies for a considerable amount of time can lead to a decent payout in the long run. The effort to carry this large amount of pennies

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485 Words | 2 Pages

“My children learned to value money and are actually quite frugal today. As a result of the financial and emotional challenges... It changed their character - and mine a little,

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1017 Words | 5 Pages

Another big lesson in this book is that you need to focus more on building relationships with people rather than worrying about materialistic things. We all want a good life, but sometimes we focus more on what kind of car we will drive or how much money we will make and we need to shift our focus on what kind of person we want to be. People will remember you for how you made them feel and what you did, not what you had. The biggest lesson though for me was that we need to let others help us. Jay and Kay would never have changed the way they thought about life if they hadn’t let Mr. Erwin help them.

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998 Words | 4 Pages

With social security being scarce on the amount of money they will have in the next 40 years, the government need to enforce better ways to teach young people of saving. This would be by adding it as a mandatory class in the school system this would teach our teens to invest and save by using the things I have listed above. As well as allowing them the understanding of how important it is to save while they are young and able to

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563 Words | 3 Pages

I plan to master the skill of budgeting. Tuition, books, housing, utilities, and food is a very costly aspect of college life. Being able to master a budget throughout my college years is a skill that I will be able to use throughout life. Independence is also a skill that I plan to gain. While living on campus, I will be away from my home and family, which will force me to find out things on my own.

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969 Words | 4 Pages

So if you begin more closely tracking your expenses as a keystone habit, you’ll begin discovering spending patterns that you may not have noticed before. This could lead you to be more cognizant of spending money when you shop, causing you to be make better decisions, spend your money more wisely, and ultimately increase your savings. Once you experience these positive outcomes, you are likely to actually change the way you view yourself. Suddenly, once you are able to define yourself as a responsible person who plans for the future, you start making smarter decisions in other areas of you life as well.

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543 Words | 3 Pages

By giving them the decision to be responsible to the child, they will gain a sense of maturity and deeply ingrain the financial foundations into their lives. Another way that Hunt suggests that parents inform their children about finances is by teaching them how and when to save money. When children are taught that they can get what they want when they want it, it is difficult for them to develop a habit of saving money when they get older. In order to help children, learn how to save money parents should limit what their children get, the amount of television commercials that they view, and by suggesting cost free activities that they will enjoy just as much. If a parent helps their child understand how money truly works and why saving is important, the child will be far more corporative when it comes to encouraging savings.

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1449 Words | 6 Pages

1. Both of our financial and well-being will be improved when we save money because it avoids us from debts and stress by thinking about our financial

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596 Words | 3 Pages

3. Look At The Benefits - If you want to maximize your savings you 're going to have to look at the benefits! Look for a saving money membership that has a ton of benefits! If you get one for gasoline, you need to make sure you purchase a ton of gasoline each year! There are several out there that allow you to use it on almost anything!

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1029 Words | 5 Pages

The first step to take before jumping into the process of saving your money is setting your saving goal. If you have something

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856 Words | 4 Pages

By investing your money, you are getting your money to generate more money by earning interest

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