While the BBA Summer Jobs Program is more than 50 students strong, on Wednesday, it felt like they each got one-on-one tips on budgeting, credit and how to manage their finances generally.
That’s because David Gabor (The Wagner Law Group) called on every student individually during this week’s enrichment seminar on financial literacy.
The M. Ellen Carpenter Financial Literacy program teaches students how to make responsible decisions about money by using practical examples like balancing a checkbook and paying bills on time. It also introduces students to concepts they may not have encountered yet, such as a healthy credit score and buying a car. Finally, the program covers what happens when people fail to meet their financial obligations by outlining the basics of bankruptcy.
Gabor focused mostly on budgeting, asking students to give some examples of steps they take to watch their spending. One student said he carefully divides his paycheck between his savings account and expenses, like his cell phone bill. Other students asked about taxes coming out of their paycheck, how social security is distributed, why people refinance their homes, and how to report an error on their bank statement.
Gabor also discussed how a good credit score translates to better options for lending, especially for student loans.
In their evaluation of the program, our students said:
- “This was very informative for my future budgeting.”
- “This enrichment seminar was a useful seminar. I know it would benefit me in the future now that I’m going to college.”
- “I think that this seminar taught me valuable information regarding finance and budgeting.”