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Certified Financial Educator Lijoy Thomas and his team educated local business owners and vendors on Wednesday about the concept of building a strong financial foundation.
During Thomas’ presentation, part of HISD’s Business Assistance Workshop Wednesday series, attendees were given clarity on compound interest and debt management, as well as a better understanding of the meaning of the terms asset, liability, and net worth.
“How is it that the richest country in the world is in so much debt?” asked Thomas as he presented information on the nation’s consumer debt level. “An average family owes $15,950 in credit card debt.”
Thomas and his colleagues are currently a part of a World System Builders financial literacy campaign seeking to educate one million families by 2020. He encouraged attendees to create financial goals and monthly expenditure sheets to identify ways to save.
“When you have good habits, you keep it up,” Thomas said, emphasizing how humans are creatures of habit. “Worse habits get worse over time.”
Scientific Learning employee Cory Armes said though she attended to receive points for her company’s Request For Proposal, she believed the information was useful.
“It’s important for employers to help their employees understand the financial aspect of things,” Armes said.
HISD’s Business Assistance Supplier Diversity department hosts Workshop Wednesday on the first Wednesday of each month. The free event covers various topics that are targeted to provide relevant information and assistance to minority- and women-owned companies interested in doing business with the district.
For more information on upcoming workshops and networking opportunities, contact the Business Assistance Supplier Diversity office at 713-556-7273 or businessassistance@houstonisd.org