Resource Choices: Final Reflection
During the unit Resource Choices, I have learned what income is, how programs such as the CPP, and EI effect my income, how to balance personal spending when living on my own, how to find places that I can afford and in a reasonable location, and how to make important decisions that impact my personal wellness. My work reflects that in the financial package (where I explored bank accounts like RRSP, RESP, and TFSA), and the independent living assignment, where I learned about income, types of places to live, taxes, and benefits and drawbacks to moving out. All aspects of our wellness wheel are impacted by resource choices, because how much money we have decides how we live, our emotional wellness, what social interactions we have, the environmental impact we make, how we embrace our intellectual aspects, and of course, how we manage our financial wellness.I have learned a lot in this unit about how much work it takes to live responsibly, and how financial wellness is an essential aspect of everyone's lives.
I know now that it is not possible to buy luxury items right after moving out, because money needs to be put forward to more important things such as a place to live, and retirement savings. Financial stability is an important part of the wellness wheel that needs to be balanced, because having too little or too much money can have large implications on our wheels. I have learned that it is important to understand and work with money early, because that can help your wellness in the future. For example, choosing a bank account that allows you to save money from a time a child is born, such as an RESP, can help you save lots of money without making a big difference in monthly spending. I feel that I know substantially more about money now that I have finished this unit, and understand options for my future and what steps I need to take. By Natasha G.
