Like most seniors about to graduate, Briana Yoder said she's not very confident about her understanding of personal finance.
"It's a little bit scary to think about having to actually sit down and budget myself out and figure out that I'm going to start paying student loans," Yoder said, after hearing a presentation about how to manage finances.
Managing debt, planning budgets and dealing with insurance were some of the topics discussed in a workshop aimed at senior college students Wednesday afternoon in the Whitinger Building. The workshop, titled "Leaving College 101," also covered basic information about saving for retirement, insurance coverage and other issues dealt with after graduation. The event was sponsored by Beta Gamma Sigma, Miller College of Business and the Career Center.
Finance Instructor Ann Reichle, who gave the lecture, said the idea of personal finance could sound intimidating to some people, but it's important to address the issue and build confidence to start managing a budget.
"I've encountered so many people who didn't feel comfortable with their own financial knowledge," she said. "They didn't feel like they could do their own financial planning."
Kaleigh Flippin, a second year graduate student studying sports and exercise psychology, said this was a course she never took while she was an undergraduate.
After graduating, she said she took an accounting class to be certified in entrepreneurship, and she understood the importance of personal finance.
"I think I would be one of those people who would be terrified, but I took the step," she said. "I think when they are terrified, it's because they wouldn't know how to apply it to their life."
Reichle said although recent changes to the core curriculum require freshmen to take a personal finance class, many juniors and seniors are taking this class as well.
"I really believe this age group is a targeted group for debt, and so the more that you educate yourself, you will prepare yourself for these kinds of issues and start saving at a young age," she said.
Reichle said she encourages students to start working on their person finances while they are still in college.
"You just have so much potential when you are in your 20s to do so much better than if you wait to start this process," she said.
Senior marketing major Emily Trapp said she felt more confident after hearing Reichle talk about personal finances.
"I'm a business major and I'm still scared of some of the terms," she said. "There are some things I still didn't know about, like how to pay student loans. I feel better since I heard this, but I need to do a little more asking to people."
A second personal finance workshop will be held at 3 p.m. on Wednesday in the Whitinger Building Room 144.
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