Personal Finance Class Teaches Real-Life Lessons

In these difficult economic times, it's more important than ever to know how to manage your money. With that in mind, the University will once again offer the Personal Financial Management (US 210) class next semester, giving students the skills and information they need to manage their money in college and after graduation.

This three-credit class is open to all undergraduates, and no prerequisites are necessary.

Topics include goal setting, career planning, budgeting, using credit cards and debt responsibly, evaluating major purchases, saving and investing, tax planning, and insurance.

The course, which was first offered this fall, has already benefited students. "This course is incredibly valuable and will help me not only now, but throughout my life," said sophomore Uri Weiss.

The Personal Financial Management course is being offered in conjunction with the University's new Center for Personal Financial Responsibility (CPFR), an educational resource for the promotion of financial literacy. Susan Coleman, professor of finance in the Barney School of Business, and Mitchell D. Weiss, who heads a consulting practice to banks and private equity firms in addition to being an Executive-in-Residence at the University, developed Personal Financial Management and CPFR in direct response to the recession.

"Research has shown that college students across the country lack the tools they need to make solid financial decisions," says Coleman. "Young people today are dealing with issues of greater complexity in a financial world that is in crisis. The current environment requires more knowledge."