Budgeting 101

Photo Credit: Mariah

After an amazing spring break, our mentees returned this week. We started the first day of week 7 mentorship with an ice breaker asking, “What are two things that make you unique?”. Afterward, we discussed ideas for community projects. During our Summer 2021 mentorship, we had two groups create a community project. This first group project was Conversation Food Desert, where a group of mentees started up a conversation about Maywood being a food desert. The second group project was Maywoodian Families, this group found families in our community and photographed them, along with a series of questions and answers. These projects were shown to our current spring mentees to get inspiration for their community projects.

After our dialogue on community projects, we welcomed Stephanie, a TFD board member, to lead a workshop on how to budget. It was so great to see our mentees engage in a dialogue about financial wellness; one of our three pillars at TFD. Stephanie shared tips & advice on how to understand the process of budgeting, practical budgeting tools, and encouraged budgeting.

As a group, our 8 mentees created a mock college student budget of $2,000 along with a list of expenses. This individual was responsible for: car insurance, gas, textbooks, food, wants, household items, savings, credit card debt, cell phone, rent, and investments. It was amazing to see how invested our mentees were in this workshop. We cannot wait for the next one!

Photo Credit: Mariah