Learning Log 1: Making Decisions

1.1 Module Summary

I remember taking a financial math class my senior year of high school where I learned a lot about banking and how to be responsible with money. Throughout this chapter, I have had the opportunity to expand my previous knowledge by looking deeper into topics such as the different types of bank accounts and the proper ways to make financial decisions. I think the most important thing I learned was the financial management process. Not because I wasn't already aware of this information, but because it summarizes what to do in just a few words and informs us how to be successful both short term and long term. First, a person must be aware of their goals and values so they can decide how much to spend and how much to save each month. Secondly, the person has to put this plan into action by making calls or attending appointments they have set up. Finally, one must review their actions and decide what to do in the future. This will help decide what has worked or has not worked and how it can be more successful the next time they revise their plan. The financial management process will impact my future because now I can tell other people I am close to how to do the same thing so we can all be more successful together.