You may have found yourself asking, “what exactly does financial literacy mean?” Understanding the topic of money sounds simple enough, but its complexity depends on our goals. For everyday life, we only need enough to pay our bills and not be overdrawn by payday, but we may be able to do better than that by paying more attention to the ongoing struggle between our wallets and our bank accounts.
The odds of hitting the jackpot are 1 in 302,575,350, according to Mega Millions. Upon discovering this, most of us must find a different path to financial independence. The saying “spend less, save more” is a good start, but there’s so much more that we can do. We’re not going to go into the stock market here, but we’ll cover some easy things you can start doing today, tomorrow or next week.
Why is Financial Literacy Important
A basic understanding of your finances can help you set financial goals, manage your credit and even determine which bank you should be using. Obviously, the sooner you figure out your finances, the better. We can ruin our credit in a matter of months, but it takes years to rebuild.
Credit Scores and Credit Utilization Ratios
You never know how important your credit score is until you’re making a major purchase. Your credit score determines whether or not you qualify for that loan or financing; it also determines the interest rate you’ll be paying.
It’s a good idea to keep your credit use below 30% of your total available credit. That is your credit utilization ratio, and it is calculated by dividing the total amount on all your credit cards by your total available credit. For instance, if you’ve got a $1000 credit card, you’d want to keep your balance below $300. If your credit utilization ratio is above 30%, this can hurt your credit score, as this is the second biggest factor affecting your score next to payment history.
Setting a Budget
It’s also important to keep an eye on your accounts and track your spending because it’s easy to find your account overdrawn if you’re not careful. The best thing to do is create a budget. It doesn’t have to be too complex, but some way for you to see how much money you’ve got coming in and how much money you’ve got going out, and when. With this information, you’ll be able to plan how to use your money more efficiently. Once you see where your money is going, it’ll be easier to fine-tune your spending and set financial goals.
There are a lot of resources online for information and tools you can use. With these financial management tools, you will easily be able to manage your money, manage your debt, and manage your credit.
A good method to follow is the 50/30/20 budget rule. That is 50% for essentials, 30% for personal spending, and 20% for savings and other financial goals.
Financial Literacy for Saving
Be sure to make savings a part of your monthly budget, no matter how small the amount. It’s important to keep your savings out of your checking account. Also, don’t confuse your wants with your needs.
An emergency fund is another good idea, but only dip into it in case of emergency, such as job-loss, medical emergencies, emergency home repairs, vehicle repairs and things of that nature.
It really is never too early to start saving for retirement, so try to get into a 401(k) program as soon as you can. Ask your employer or your bank about getting started, and they will walk you through your options. It’s also recommended that when you get a raise, increase your retirement savings, too.
Other Things to Know
Be aware of interest rates for credit cards, loans, and even savings accounts, as some are better than others.
A good method for tackling debt is to pay off smaller bills first and getting them out of the way. Follow that up by attacking your higher interest credit cards or loans.
It might also be a good idea to adopt a cash-only diet. This curbs spending and makes your money a lot easier to track.
On a final note, it can’t be stressed enough that the more you learn about financial literacy, the closer you will be to reaching your goals.
Centura College has been part of an organization dedicated to helping men and women develop careers since 1969. By training working adults in healthcare, technology, business, and trades, they connect communities with some of the fastest growing career fields in today’s marketplace. The school offers professional facilities, knowledgeable instructors, day or evening classes, job placement assistance and is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC). To learn more, visit www.CenturaCollege.edu or like them on Facebook at https://www.facebook.com/centura.edu.
In conjunction with Aviation Institute of Maintenance, Centura College, and Tidewater Tech, Calvary Revival Church announces a $1 million scholarship fund for students, to be awarded over the next ten years.
Earlier this year, Aviation Institute of Maintenance (AIM) purchased Calvary Revival Church’s former Calvary Christian School campus on East Little Creek Road, where AIM will relocate its Southeast Virginia campus in 2020. Calvary Christian School was an accredited K-12th grade, faith-based, private school founded by Bishop B. Courtney McBath, dedicated to inspiring future educators, doctors, lawyers, and politicians that would eventually leave their homes in Norfolk and surrounding communities to go out and change the world. The two entities have now teamed up to create a scholarship fund for students in the local community.
The $1 Million Overcomers Scholarship Fund will be administered by Calvary Revival Church (CRC) over ten years to help the Norfolk community and the Hampton Roads community at-large pursue career-focused college education and workforce development. Recipients of the scholarship will pursue training at the AIM, Centura College, and Tidewater Tech campuses and will be supported with job placement services after graduation.
“This scholarship is representative of our church’s heart for Norfolk and people throughout the 757 that are looking for opportunities to improve their quality of life,” said Courtney McBath, Senior Founding Pastor at Calvary Revival Church—an eclectic, family-oriented ministry dedicated to creating Overcomers out of the broken and empowering its community. In July 2020, CRC plans to celebrate 30 years of ministry and service. It offers services on Saturdays at 6:00 PM and Sundays at 8:30 and 11:00 AM at 5833 Poplar Hall Drive in Norfolk, where you can almost always count on being greeted with a “Hey Fam!” and hugs that feel like HOME. Calvary Revival Church, in conjunction with the Foodbank of Eastern Virginia, also serves thousands of Norfolk residents every Friday from their Healthy Foods Pantry located at the church’s 5833 Poplar Hall Drive campus. Our goal since our inception in 1990 has been to expose our community to opportunities for advancement and to remind them of their God-given value and purpose, says McBath, and alumnus of M.I.T.
Over the next decade, hundreds of Norfolk citizens will benefit from the Overcomers Scholarship Fund, and they will go to work at hospitals, airlines, shipyards, and businesses throughout the region. Dr. Joel English, Vice President of Operations for the colleges, stated that “this is the first time in our institutional history that we have donated to such a significant scholarship program.” “The Overcomer Scholarship will reduce or eliminate college debt for the recipients,” said English, “and it will supply skilled tradespeople for open positions throughout Hampton Roads.”
About Calvary Revival Church
For more information about Calvary Revival Church, please find them at @CRCNorfolk on all social media platforms or join us online at www.crcglobal.org to learn about ways that you can give back to Hampton Roads through service and scholarship!
About Aviation Institute of Maintenance
Aviation Institute of Maintenance (AIM) is a network of aviation maintenance schools with campuses coast-to-coast across the United States and headquarters located in Virginia Beach, Va. AIM students are trained to meet the increasing global demands of commercial, cargo, corporate and private aviation employers. AIM graduates are eligible to take the FAA exams necessary to obtain their mechanic’s certificate with ratings in both Airframe and Powerplant. AIM’s campuses are located in the following major metro areas: Atlanta, Philadelphia, Dallas, Houston, Indianapolis, Las Vegas, Washington, D.C., Kansas City, Mo., Fremont, Calif., Orlando, Fla., and Norfolk, Va. Learn more at: www.AviationMaintenance.edu.
About Centura College
Centura College has been part of an organization dedicated to helping men and women develop careers since 1969. By training working adults in healthcare, technology, business, and skilled trades, they connect communities with some of the fastest growing career fields in today’s marketplace. The school offers professional facilities, knowledgeable instructors, day or evening classes, job placement assistance and is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC). To learn more, visit www.CenturaCollege.edu or like them on Facebook at https://www.facebook.com/centura.edu.
About Tidewater Tech
Tidewater Tech is a career training school that specializes in trade vocations including Auto Technician, Heating, Ventilation and Air Conditioning (HVAC), Building Maintenance and Repair and Welding. The school offers professional facilities, knowledgeable instructors, day or evening classes, and job placement assistance. Learn more at www.tidewatertechtrades.edu.
Centura College Newport News graduate Mary Majette.
Prior to her time at Centura College, Mary Majette had over 20 years of experience in the Human Services field. In 2010, Mary decided to move to the Hampton Roads area. Upon continuing her career path in Human Services, Majette quickly realized that she needed to go back to school if she was to improve her career prospects and earning potential.
With that realization in mind, Mary began to look into potential educational options. She chose Centura College because she could obtain her diploma in Health Information Technology in less than a year. On top of that, the Newport News campus was conveniently located near her home.
Mary completed her program in eight months. During her time at Centura College, she became a Centurian Ambassador and participated in several community volunteer opportunities. Majette maintained and graduated with a 4.0 GPA. She is now a member of Centura College’s Program Advisory Committee (PAC).
Centura College grad Mary Majette poses for photo op infront of Hampton University Proton Therapy Institute.
We are proud to announce that Mary is currently working full-time in her field at the Hampton University Proton Therapy Institute. Way to go Mary!
About Centura College
Centura College has been part of an organization dedicated to helping men and women develop careers since 1969. By training working adults in healthcare, technology, business, and trades, they connect communities with some of the fastest growing career fields in today’s marketplace. The school offers professional facilities, knowledgeable instructors, day or evening classes, job placement assistance and is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC). To learn more, visit www.CenturaCollege.edu or like them on Facebook at https://www.facebook.com/centura.edu
Centura College Graduate Spotlight – Carissa Chalsma
By Lisa Pinson, Massage Therapy Coordinator, Centura College Newport News
Carissa Chalsma began her Massage Therapy career at Centura College in Newport News on October 17, 2017 and c ompleted her coursework on June 18, 2018. She was a diligent and engaged student, which resulted in her achieving a 4.0 grade in her coursework.
Currently, she is employed with Williamsburg Neck and Back Chiropractic in Williamsburg, Virginia as a Massage Therapist. Through her work there she uses a variety of trigger point, orthopedic, myofascial, and stretching techniques that are designed to treat injuries, ease muscle tension, reduce muscle spasm and pain. Her favorite work focuses on sports/trigger point and neuromuscular massage techniques that enable clients to regain and maintain healthy well-moving bodies.
Carissa has a passion for helping people through hands on healing. She intends to pair her Massage Therapy diploma with a degree in Physical Therapy that she is currently pursuing at Old Dominion University.
In her free time, Carissa spends most of her time furthering her education in the healing arts. She is dedicated to her craft and excels at it. She also enjoys her family, friends, and boyfriend and loves to travel when she has time.
Even as busy as she is, Carissa still comes back here to Centura to assist other students who are about to graduate. She serves as a Licensed Massage Therapist during clinicals and gives constructive feedback. She is a true mentor.
Carissa is one of our best and brightest. She is a true success story!
The faculty that forms the Student Services Department plays a key role in helping you through your college journey. Student Services includes different branches of a campus to aid you in addressing specific needs. Below you can find information on the departments that help maintain order on campus:
Career Services – If you are a graduate, or you are about to graduate, Career Services can provide assistance when it comes to searching for jobs. They help with writing resumes and will coach you on proper interview attire and etiquette. They will even performing mock interviews in preparation for the real thing. Career Services arranges opportunities for employers to come to the campus to encourage you to meet with them face to face.
Bursar – The Bursar Department assists with billing, monitoring your account balances and collecting balances due.
Financial Aid – The Financial Aid Department breaks down the specifics on your financial aid options. They will also provide information on grant or scholarship opportunities.
Librarian/Learning Resource Center Assistant – A Librarian, or Learning Resource Center Assistant, provides tools, books and other reference materials that can help you with studying or assignments.
Registrar – The Registrar Department maintains order when it comes to things like: attendance and student records, grades, transfer/transcript information, and class enrollments.
Student Services – A Student Services Coordinator establishes relationships with the community as resources for you. Using their connections, they will help you in finding housing information, transportation and daycare options, as well as, part time jobs options to have while attending school.
Veteran Services– Veterans Services equip veteran students with information on what educational benefits are offered to them. They accommodate veterans to help create a smooth transition from military life to civilian life.
Equipped with the proper knowledge of what each Student Services Department does, you now know which department to turn to for the proper guidance.
The world of digital technology can be confusing. Many organizations fail to understand the clear distinction between various platforms within the digital technology. Do you need an IT specialist, a web developer, or a website designer? And who does what exactly? Digital service providers have a different set of skills and areas of expertise.
This is how it works: you don’t take your car to a collision shop when you want it detailed, or to a tire store when you want the oil changed. The same thing applies to information technology and web development. We are going to dissect the distinction between web development and information technology to help clear confusion and help you better communicate about the different roles.
What is Information Technology?
Information Technology (IT) has to do with the implementation and maintenance of your organization’s computer network. An IT specialist is the person handles the company’s software, hardware, email systems and security systems.
In the Web Industry scope, IT encompasses storage, transfer, reception and manipulation of data using computer networks. It may not be clear at a first glance, but IT represents the technology behind the standardization and coordination of the organization’s information.
What is Web Development?
Web development refers to the creation and development of websites and hosting them on the internet or intranet. This should never be confused with web design, which typically focuses on the aesthetics of websites. To draw a clear distinction, web designers create designs for a website before it comes alive, while a web developer will utilize the design to carry out the actual coding of the website, bringing the ideas to life.
Web developers work on anything as simple as plain text pages, to more complex social networking sites like Twitter or Facebook. During the development, the web developer engages the web designer and the client through critical thinking, planning, and discussion.
The Comparison Between IT Administrator and Web Developer
You can now see that these two fields are totally different, but the case may not be immediately clear when you first walk into a web company’s office. Here’s an analysis of the job description for an IT Administrator and a Web Developer:
An IT Administrator’s roles and duties include:
Configuring computer networks in the organization for easy communication among the coworkers.
Setting up and managing existing network infrastructures in the organization and ensuring a seamless flow of data and consistent internet connection.
Managing all software and hardware used by the organization and keeping all the software licenses up to date.
Managing software and hardware purchasing.
Proper keeping of organizations data and information with backups.
Troubleshooting any computer hardware failures of the organization.
The Web Developer’s duties and responsibilities include:
Developing websites using the most prominent coding languages and technologies.
Fixing bugs on the existing websites.
Interacting with clients to clearly understand their goals and needs.
Collaborating with web designers to bring their concepts into reality.
Handling domain names and hosting configurations.
Creating technical documentations that accompany websites.
It’s pretty clear now that the two jobs have very little similarities. Training in each area is needed to be successful in either role and being able to explain the difference to companies will make sure you exceed employer expectations in a more defined success plan.