Financial Literacy Concept Coming to Freshman Seminar
The class of 2018 poses for a photo in the University Quad.
How good is your knowledge on financial literacy? Financial literacy is the ability to understand basic principles of business and finance.
College students are the most illiterate with financial literacy and it can affect them after they graduate. Enactus is planning on doing a lecture on financial literacy in the freshman seminar classes in the fall of 2018.
Enactus is an organization of student, academic and business leaders committed to using the power at entrepreneurial action to transform lives and shape a better more sustainable world. They hold meetings every first and third Monday of each month to discuss further actions to help in the community.
Enactus is separated into three project groups: Startup Business Project, Downtown Beautification Project and Financial Literacy or Pembroke Housing and Authority. Bianca Hernandez, project leader of the financial literacy group, held a meeting to discuss giving information to incoming freshmen.
John Richardson, member of the financial literacy group, said the students should use a spreadsheet to write down the costs of anything they buy so they can keep themselves accountable.
“They can also set a reminder so that they won’t forget,” Richardson said. “It’ll help them to ask themselves, how bad do I want to achieve my goals?”
Literacy finance group member Korrinne Bethel said she went to school with only $200 to her name and she didn’t know anyone. Bethel decided to develop relationships on campus so she could receive recommendations for scholarships to help her gain money.
Bethel chose the 475 Braves Dollars option and ended up with almost 800 Braves Dollars at the end of the year. She plans to share her experience with freshmen about how making connections on campus can help earn money they can use or save for school.
“People are so friendly and you don’t have to come too far out of your comfort zone,” Bethel said. John Bourgeois, another member, plans to give information to freshmen on what to do with their refund checks.
“Instead of using it to buy other wants, use it to pay the loans back to the school for your education,” he said. Hernandez plans to end the session with tips on how to make use of the meal plans. Some students tend to waste money, according to Enactus members, so they found solutions to try to avoid that for the newcomers.
“We’re all going to mess up, so let’s learn from the mistake,” Bethel said. It is better for students that live on campus to choose the meal plan that will fit them best, Hernandez said. She also believes that it would be better if commuters did not get a meal plan because they already have the necessities to cook for themselves.
Enactus is also known for helping off campus. In the past, Enactus has conducted workshops in middle schools to teach about finances and budgeting. They also went to Grace Court to help women with job preparation such as starting a resume as well as the interview process.
Additionally, each woman who participated was given $100 to shop for business clothing at Wal-Mart. Contact Executive-in-Residence for Internships Christine Bell at christine.bell@uncp. edu, or visit her office in the Business Administration Building Room 109, for more information on Enactus.