Online Financial Literacy Workshop

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• Cost: Free

• Duration: 90 minutes (60 minutes presentation, 30 minutes Q&A)

• Location: Jugendzentrum Chilli, Telfs am 14.11.2024

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During the financial education session at the Youth Center Chilli in Telfs, we covered key financial topics that are especially relevant for young people.

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Gross vs. Net Income

We began by explaining the difference between gross and net income to raise awareness of how much salary remains after deductions. This included an overview of deductions such as taxes and social security contributions, illustrated with example calculations of net income.

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Spending Habits

Another important topic was spending habits, particularly regarding purchasing a home. We discussed the financial prerequisites for buying property, including equity and monthly repayments, and outlined additional costs like notary fees and taxes. The session also provided an introduction to mortgages and loans, including how interest rates and terms impact monthly payments.

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Saving and Investing

Lastly, we addressed saving and introduced various options, including savings accounts, overnight deposits, fixed-term deposits, and longer-term investments like mutual funds. We explained the pros and cons of these methods and how to integrate saving into daily life. The goal was to provide practical strategies for achieving savings goals effectively, whether for major purchases or long-term financial security.

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This interactive workshop was designed to equip participants with practical financial skills for their future.

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