Financially Smart: Students Attend Workshop About Finances

The Center for Financial Literacy helps students make a S.M.A.R.T. plan to increase their savings and decrease their monthly spending. 

On March 30 from 5 to 6 p.m., over 50 students attended the Financial Wellness Workshop which was presented by the Office of Equity & Inclusion and the Center for Financial Literacy. 

Dr. Stacie Rhodes, executive director of the Center for Financial Literacy, gave a lecture on how the effects of money can impact students in emotional, physical and mental ways. 

“We love to do some type of engaging activity or simulation to get the wheels turning about financial decisions,” said Rhodes. “Now is the perfect time to wrestle with some of these big decisions and core beliefs.”

According to the American Psychological Association, the lack of a budget often causes a feeling of overwhelming stress, isolation and discontentment.

“I think it has been beneficial (to attend the workshop), and I think it helped me realize that finances and budgeting isn’t as scary once it’s broken down,” said Abigail Cortapasso. “Having these opportunities to come somewhere to learn and truly grow and get creditable knowledge is really important for college students and how they will run the rest of their life financially.”

Typically, college students do not have a steady income. Therefore, there is a need for a monthly budget. 

“Even in this season college students are forming habits that can dramatically change their future,” said Rhodes. “If they (students) can start catching the vision for what their future can look like and implement healthy habits now, their financial lifestyle will look dramatically different (in their future).”

The Center for Financial Literacy offers workshops 75 times per year and around 30 times per semester.

“We take a unique approach in collaborating with departments or faculty to go to the audience rather than hosting workshops on our own,” said Rhodes. “Students are often intrigued by the discussion with some attendees connecting with the CFL after the event through peer financial coaching, attending additional workshops or shooting us questions via e-mail.”

The Center for Financial Literacy offers students one-on-one peer financial coaching sessions with a coach trained in how to explain a variety of financial topics.

“We have more than 400 one-on-one coaching sessions every year. We have some students who stay in college because they were able to create a financial plan,” said Rhodes. “This service is totally free to students and something most adults pay for after college.”

For more information regarding workshops and one-on-one coaching, students can visit liberty.edu/business/center-for-financial-literacy/ and follow @lucenterforfinancialliteracy on Facebook and Instagram.

Barton is a news reporter.