Alyssa Kata has been thinking about getting a credit card and as of Monday evening, the communication senior now knows exactly what to look for to get the best deal.
Kata said she attended the Spartan Money Management Seminar at the Business College Complex because she also is a member of the Senior Class Council — an MSU volunteer group that sponsored the event.
“It sounded like a good opportunity to get information to help me in the future,” she said.
Ryan Thompson, a member of the council who helped organize the seminar, said the goal of the event was to help students be smarter with money.
“Most people go to college and find themselves in $100,000 of debt because of student loans,” he said. “Money management is a lot more important to us than it was to our parents or grandparents.”
Money management is not something students always are taught in school, Thompson said.
“Students don’t get a lot of experience with it,” he said. “They just acquire the skills over a period of time.”
Brian Winters, a financial wellness counselor at Olin Health Center, spoke at the seminar and answered student questions.
“(I talked about) how credit works, how health insurance works and how budgeting and saving can be helpful,” he said. “Basically the
things they can do to be financially successful in their own lives.”
Winters said common problems students face include avoiding debt and building good credit.
“For college students, the most realistic way is to get one — not multiple — one credit card and pay it off every month,” he said.
Students also face difficulty with budgeting and saving money, Winters said. For help, students can meet with him for free to discuss their budget.
“I see students if they have financial difficulties or things they need to talk about,” he said. “I’m a financial planner, so I look at what’s out there.”
Although some students have parents who actively teach them about money management, not everyone has access to that information, Winters said.
“There’s a need for financial literacy and financial education out there,” he said.
Advertising senior Nicole Brooks said the information was useful to students because many rely on parents for financial assistance.
“Like many students, I have student loans,” she said. “Since I’m graduating in May, I’m very interested in how to pay those back effectively.”
Thompson said the information provided is relevant to all students.
“Seniors are a big part of it because they’re going to be entering the job market sooner,” he said. “This information could be a lot newer to freshmen and sophomores so it kind of opens them up.”
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