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.
Centura College’s Norfolk campus hosted their first Try a Trade Open House on Friday, January 10.
The Try a Trade campus event welcomed the public to try a trade for a day. The event mimicked a typical college shadow day, but with a twist. All attendees had the opportunity to explore a skilled trade of choice and received hands on training. Whether they selected the carpentry trade or construction electrician trade, attendees worked hands-on with professional assistance by experienced trade instructors.
The attendees learned how to safely use tools of the trade to assist with cutting, shaping, installing and much more, allowing them to gain experience immediately. Several instructors were on hand to talk about why they’re passionate about what they do and the opportunities that stem from hands-on learning. The attendees thoroughly enjoyed test-driving the actual equipment that will be available to them and were able to leave with hand crafted pieces of their work.
Centura College believes providing hands-on learning is the way to take what you’re learning in the classroom and apply it to real experiences.
Trade Programs
The Carpentry program at Centura Norfolk provides students with the technical skills to build, install and/or repair residential, commercial, and industrial structures such as floors, walls, roofing, windows, and doors as well as interior and exterior building structures. Students who graduate from this program will have learned how to construct, repair and install building framework and structures made from wood and other building materials.
The Construction Electrician program at Centura Norfolk provides students with the technical skills to setup, install, repair and maintain electrical systems that provide heating, cooling, lighting, communications, and power distribution for residential, commercial and industrial structures.
Centura College’s Norfolk campus offers training in the following career fields:
For more information regarding Centura College’s Norfolk campus program offerings, contact the campus at (757) 340-2121.
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.
As skilled trades employers continue to face issues finding qualified technicians to fill open positions, Centura College is answering the call for help.
Written by Jul DeGeus
Centura College’s Norfolk campus is now offering a Carpentry training program. This joins the campus’s existing programs offered, including Dental Assisting, Health Information Technology, Medical Assisting and Constriction Electrician.
The Carpentry program provides students with the technical skills to build, install and/or repair residential, commercial, and industrial structures such as floors, walls, roofing, windows, and doors as well as interior and exterior building structures. Students who graduate from this program will have learned how to construct, repair and install building framework and structures made from wood and other building materials.
Students will learn how to safely use the tools of the trade to assist with cutting and shaping wood, plastic, fiberglass or drywall. Hands-on, and troubleshooting applications in a classroom and lab setting are also presented to include various angle cuts, assembling and aligning walls, building roof systems, blueprint reading, and the safe usage of various hand and power tools needed for this trade.
Areas of study include construction drawings, framing, floor systems, roofing, ceilings, moisture protection, rigging practices, drywall, cabinetry, concrete forms, interior and exterior finishes, site preparation, and crew leadership. Additionally, students will learn mathematical calculations necessary to plan and build structures, and soft skills to include communication skills, team work and professionalism.
Students will have the opportunity to complete the Occupation Safety and Health Administration (OSHA) 10-hour safety certification including the National Center for Construction Education & Research (NCCER) Levels I, II, III and CPR/ Basic Life Support.
For more information regarding Centura College’s Carpentry program, contact the campus at (757) 853-2121.
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.
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 is broadening their horizons as they add Construction Electrician to the programs offered at its Norfolk campus. The campus has transformed classrooms into a multi-disciplined learning environment for the prospective electrician to explore the various aspects of the trade.
Construction electrician training set-up at Centura College Norfolk.
The Construction Electrician program is the brainchild of Campus Executive Director Theresa Tuttle and Dennis Thornton. This new 12-month diploma program is designed to provide hands-on training in the various aspects of the trade. Students will acquire a thorough understanding of the National Electrical Code. Utilizing NCCER (National Center for Construction Education and Research) publications and testing will allow each graduate the ability to acquire nationally recognized certifications of achievement. Additional certifications for the course include OSHA 10 training, powder actuated tool licensure and basic CPR.
More training set-ups for the Construction Electrician program at Centura College Norfolk
Upon completion of the program, graduates will be equipped for a variety of Construction Electrician entry-level positions. Examples include smart home installation, deck electrician, marine electrician, commercial electrician, and service electrician assistant.
Coordinator Brian Stanley will be overseeing the Construction Electrician program. Stanley brings over 35 years of hands-on experience in the electrical field and 8 years in the classroom. Stanley will be working closely with Donald Farrell, an accomplished technician himself. Farrell offers a broad range of experience acquired over a 50-year career. Considering the booming construction industry, demand for electricians is destined to remain extremely high.
Have you been contemplating following your dream of working in the medical field? However, your age, the cost of medical school, the years it will take to complete the degree, along with residency and training causes you to reconsider? Luckily, the healthcare industry is one that career changers can pursue easily. This is possible due to the wide range of careers within this industry.
Many people consider going back to school as a way to develop specific knowledge that they will use to pursue a new career. Others want to gain skills that will result in them making more money. According to the National Center for Education, “more and more adults are returning to school. It seems like once parents send their children off to school, they start investigating what going back to school may mean for them as well.”
One career taking the healthcare Industry by storm is Health Information Technology (HIT). Health Information Technicians are also knows as medical coders or medical billers. According to the Bureau of Labor Statistics, “Employment of health information technicians is projected to grow 13 percent from 2016 to 2026, faster than the average for all occupations”.
Health Information Technology (HIT) is a great way for someone, at any point of their career, to enter the health care field because it typically does not require more than a two-year degree. As a Health Information Technician, you will work with computer software systems to analyze patient information to determine various ways of improving patient care or controlling costs for both the patient and facility.
Instructor Afyia Richards at Centura College Virginia Beach states, “This is the perfect career for all ages interested in working in the healthcare industry on the informational and technological side of the field.” Within this career, individuals will not work directly with patients in the way a doctor or nurse would do, but rather they play a vital role in keeping hospitals and clinics running. Ms. Richards states, “We play a great role in saving lives”.
Ms. Richards held a variety of positions in the healthcare field over the last 10 years, including auditor and medical coder. Working in this industry did not limit her to just working in hospital settings; she has worked in many organizations that use health information, such as insurance firms, pharmaceutical companies and law offices. Ms. Richards explained this is a great career opportunity for individuals looking to work from home. Health Information Technicians also have the ability to determine their own salary.
Centura College in Virginia Beach strives to assist individuals in starting careers instead of jobs. With the buzz around this career field, Centura College decided to offer the HIT program. Once students have completed this program, they will take the American Health Information Management Association (AHIMA) certification, which allows them to become more marketable in the field. Centura College is the only college in Hampton Roads that offers the certification included in the tuition, as well as AHIMA curriculum.
Mrs. Richards states, “I am definitely glad I made the decision to purse this career. The field has grown by leaps and bounds and it won’t be slowing down any time soon. This is my retirement plan.” So don’t let your dreams fade away, still thinking about going back to school, then Health information Technology may be right for you.
Written by Meagan Chappell
