How Money Works
The How Money Works Club at Santa Monica College (SMC) works on informing students on financial literacy. They host interactive workshops every Thursday on the main campus in classroom HSS 150. Club President, Takara Yaegoshi creates PowerPoint presentations that help guide students on the journey of eliminating credit debt.
On March 25, before the event began, Yaegoshi’s mentor Patricia Henderson shared her knowledge with the attendees, encouraging students to live and learn, yet be aware of bumps in the road ahead.
Henderson and Yaegoshi met at the University of California, Los Angeles (UCLA) during a social event. The How Money Works club on UCLA’s campus was the inspiration behind encouraging students at SMC to start a club of their own.
Once Henderson was finished, Yaegoshi began her presentation by going over details from the previous workshop. This allowed participants to test their knowledge on the information they’ve retained. Caleb Bell, a club member, took initiative by reminding other participants to budget how they spend their income.
During the presentation, Yaegoshi informed students, “Financial illiteracy is the number one cause of the economic crisis.” Yaegoshi encouraged students to think about the future by strategizing in their early 20s. “Financial goals might not be attainable at the moment, yet implementing strategies now will help create a healthy foundation,” said Yaegoshi.
The club exchanged ideas on how to handle hypothetical situations during an emergency. Henderson and Yaegoshi guided students while they created an emergency fund.
By the end of the presentation, Yaegoshi mentioned which credit cards align with students specifically, and taught students how to check their credit. Yaegoshi stated, “These workshops cater to informing students who might not have anywhere else to learn this information.”