October 2018 – Life Skills Instructor

Archive Monthly Archives: October 2018

What Is Your Mind Focused on?

What you focus your mind on will control you! What you think about is what you become. Do not meditate on your problems but on the positive. Doing this will allow you to think clearly and reasonably. In all situations focus on the positive!

What’s a Credit Report & Why is it Important?

Your credit report is one of the most important aspects of your financial life. It provides a history of your credit transactions with banks and other lenders. Your credit report impacts your ability to get credit for things like buying a home, to getting the job that you want. There are three main credit reporting […]

How Interest Works When You Save

Just as loans require interest payments, any money that you deposit in an interest-bearing savings account will also attract interest. In our last mini lesson on interest, we look at how interest works when you save. Interest on Savings Simple interest of 5% on a savings balance of $100 would result in a gain of […]

How Interest Works When You Borrow Money

In our second mini lesson on interest, we will learn how interest rate and APR work when you borrow money from a financial institution. Interest on Money That is Borrowed When you borrow money, interest is what you are charged for using that money. This means you will end up paying back more than the […]

What is Interest?

The next three posts will be bite-sized lessons on understanding the financial aspects of interest. In this first lesson, we will look at what interest is and the difference from an APR. As you learn to manage your money, including both savings and debt, interest will become a big part of your monthly finances. Interest can […]