November 7th - Online Financial Skills Workshop
Future Leaders Initiative (FLI) Program

As part of the Future Leaders Initiative (FLI) Program, this financial skills workshop was hosted online by Brennan Hollenbeck, Financial Advisor for Mueller Financial Services. Ten FLI particpants attended the workshop as part of the program. Participants asked questions about credit scores and student loans. Mr. Hollenbeck also provided a budget worksheet and encouraged students to use it to help with budgeting their money in college and after. The workshop covered the following topics:

Budgeting and Cash Management – The importance of establishing a budget or personal cash flow worksheet is critical to financial success and usually the first step when getting someone’s personal finances in order. Knowing where your monthly cash inflows and outflows are going and the best ways to maximize savings can be a very big first step for many people. Utilizing a few key tips and areas of cash management can really help change an individual’s habits in an impactful way when it comes to budgeting, saving, and planning out cash flows for the future.

Debt Management – Many people struggle with the concept of debt and how to properly manage it and use it effectively. Personal debt does not always have to be viewed as a negative/discouraging thing but understanding your debt, knowing your interest rates, and then developing a plan for paying off that debt is a critical financial step that most don’t take the time to understand or grasp. The use of student loans, credit cards, car loans, house mortgages, and debt consolidation services will all be covered in this areas.

Investing/Saving for Future – Investing for your future retirement or goals does not have to be a complex thing. Many times it is understanding what your options are and taking the first step to investing that individuals struggle with the most. Knowing your current options, the most efficient and effective ways to save/invest, and then setting up a systematic plan to achieve those goals is all it takes to get someone started. In this section would cover the topics of 401 (k), Roth vs. Traditional, IRA’s, after-tax investment accounts, and the importance of diversification. We also will cover some examples of how starting to save/invest early on in someone’s career will have a vast impact on future balances for your retirement accounts and the importance of not waiting.

Meet the Workshop Presenter