Written by Blake Evans, AU Graduate Assistant.
The Macon Citizens Group met for the first time in 2014 on Monday, January 27. Mr. Wil Golden, Macon County’s Extension Coordinator, was the guest presenter. Mr. Golden has worked with the Alabama Cooperative Extension System for about ten years, and he has spent the past year serving in the Macon County Extension Office. He has decades of business-related experience, and he provided a wealth of knowledge to the students about the process of budgeting.
Specifically, Mr. Golden spoke about practical dynamics of budgeting, such as the importance of keeping receipts to monitor how much money is spent at grocery stores and gas stations. As he pointed out, there is no way to reduce spending without knowing how much money is being spent on particular items. Therefore, he believes every student should have a comprehensive spending plan. A spending is simply a budget with a different name. According to Mr. Golden, the word “budgeting” derives negative thoughts in the minds of people who hear it, but the phrase “spending plan” is more positive because it encourages people to think about how they will spend their money. “Budgeting” is more restrictive than “spending plan,” and people do not like to be restricted.
Throughout his presentation, Mr. Golden emphasized to students the importance of knowing how to properly manage money by generating a discussion with students to understand their specific questions. The lively discussion between the students and Mr. Golden was a strong indicator that the students were actively engaged in the learning process. Mr. Golden’s financial advice certainly seemed to resonate with the students. Hopefully, his budgeting lesson will encourage the students become proactive in appropriately managing their finances, thereby significantly reducing the rigors of future financial burdens.