Financial Literacy was actually one of the classes I was the most excited about. During this time I was becoming the Finance liaison for my department. I have a strong understanding that finance is managing cash.
Most people hear the world “finance” and bristle because it entails a lot of responsibility to provide consistent results. However I approach finance as something fun to delve into. My approach to finance is to have a plan and vision.
The plan is to make sure you have enough cash, the vision is to see what you can make happen with that cash.
Working in the video production world, you have your main budget, then you have your working budget. You create a main budget to give an overview of what you expect to spend your money on. Your working budget is your actualized budget you work off of to itemize each expense to make sure you are within your financial range.
In this class I was able to understand what an audit was, how to develop a business plan, and how to read financial reports.
The best part of the class was coming up with a financial business plan. My idea was to create a digital app for devices that would help reserve parking within corporate buildings for their employees. Pre-pandemic, traffic was the bane of many commuting employees existence. Now that we are entering post-pandemic, traffic has started to pick up again.
As more employees are dreading having to eventually go back to the office, I developed this app with their needs in mind. I have attached a concept, and my working business plan. My business plan is still a work in process, however it is a building block.
I am learning what else I should factor into creating this application: how many engineers and developers it would take to design the interface, the pay for this labor, the technicians to install the many things that go into making this idea a reality, and other unknowns.
Ninstories 