Melissa Magallon emigrated from the Philippines 20 years ago to become a clinical laboratory scientist.
While Magallon made decent money in her profession, which started in Nebraska before coming to California, she had no knowledge of how money works.
Magallon, who eventually settled in Yuba City and now works at Adventist Health/Rideout Hospital, said it’s important to be properly educated on how to maximize strategies to grow your money.
“If you don’t understand personal finance, it’s easy to get in trouble,” Magallon said.
There are a number of topics that go into conducting a financial workshop. Magallon and Certified Financial Educator Aloy Ignacio began their public outreach with a college and retirement planning workshop Saturday at Boyd Hall in Yuba City.
Ignacio, who partners with Magallon and is a certified social security analyst, hopes to make the workshop a monthly event where anyone can come and get free financial education in a public setting.
Ignacio, who is not a financial adviser and is not paid for the services he provides, said there were four key points when discussing financial education.
He said it starts with growing your money with safe investments or other living benefits in a way where taxes don’t aggressively impact a person’s bottom line.
Ignacio also noted that it’s important for everyone to have income replacement in the event of a long-term illness or injury.
Both Magallon and Ignacio are part of a larger organization known as World System Builder, which is a community of financial professionals whose mission is to provide the best financial education and revolutionize the financial services industry, according to the mission statement on the World System Builder website. .
Financial security starts with education and learning what to do with income earned every two weeks, Ignacio said.
“I would tell them you have to be educated first,” Ignacio said. “What you don’t know can cost you dearly.”
Ignacio and Magallon are currently working with several public sectors, such as local police and fire departments and even libraries in the Yuba-Sutter area. They both aspire to have a more cohesive event each month at Yuba City’s Boyd Hall.
Ignacio noted that he is currently in communication with Sutter County to make this possible starting next month. Tentatively, Ignacio said another financial workshop was scheduled for 2 p.m. on April 23 at Boyd Hall to discuss topics such as increasing cash flow, debt management, emergency funds and preservation. of the estate.
“Our goal is to provide financial education to the masses,” Ignacio said.
For more information or to schedule an appointment outside of a public workshop, contact Magallon by email at [email protected] or by phone at 308-458-7438.