While a participant of WIBO’s “Start a Growing, Profitable Business” Workshop at the South Bronx location, I was recruited to become a WIBO workshop leader and began training (hmm, I’m starting to see a trend here…), so the first time I “took” WIBO’s Week 16, it was actually my debut as a WIBO Course Leader, so I actually led that class. For this go ’round of Week 16, I was again a WIBO Course Leader at the Washington Heights location, but since I was a Co-Leader with Larry Feldman, I had another opportunity to study this lesson.
As Week 16 is about personal finance, we learned how personal finances affect our businesses and which software can be used, read the full guide to pay stubs and how it helps your company. We discussed financial management “best practices”, and learned the formula for determining net worth:
NET WORTH = ASSETS – LIABILITIES
Our visiting Discussion Leader was a NY Life Insurance Broker who didn’t believe in budgets. Okay, he didn’t say that exactly, but he did say that it’s nearly impossible for people to stick with an ambitious budget that affects their lifestyle. Instead, he recommends that you decide on a set amount for your savings or investment plan, pay yourself first each month, and then move on with your life!
And now that I’ve finally posted this Week 16 blog post, I can move on with this blog – haha! See you at the WIBO Graduation on June 13th!!!
The Spring 2011 Washington Heights WIBO Class!
For more information on Workshop in Business Opportunities (WIBO), please visit http://WIBO.org