What's a good credit score, and what does the number mean? Is it always smart to pay cash for a car? What's the difference between a mutual fund and an individual stock?
These are just a few questions four Kenneth W. Freeman College of Management professors answered for seniors from across the University during a one-day crash course on handling money after graduation.
Held Saturday, Jan. 27, the seminar — "Beyond the Bucknell Bubble: Personal Finances in the Real World" — covered the foundations of budgeting and taxes, saving and investing, credit and debt, and insurance. Sixty-three students representing all three of Bucknell's colleges took advantage of the opportunity to arm themselves with core financial knowledge before joining the "real world."
"For someone who comes from a background where financial literacy isn't a common topic, this type of event is a blessing," said Anthony Scrima '18, an education major.
The content was developed by management professors Cindy Guthrie, Stacy Mastrolia, Frank Schreiner and Curtis Nicholls, who teach accounting & financial management courses. Nicholls and Schreiner co-direct the Student Managed Investment Fund, a two-semester course that empowers students to manage approximately $1.7 million of Bucknell's endowment.
At the seminar, Guthrie, a former financial planner, led a workshop on managing credit and debt. "I have a passion for financial literacy," she said. "I want to make this valuable information available in ways that are accessible to all students."
Mikayla Berliner '18, majoring in psychology and economics, said she appreciated the chance to learn more about handling her personal finances as she prepares for graduation. "The seminar gave me a lot of great information that I can look back on when I'm supporting myself," she said.
"Beyond the Bucknell Bubble: Personal Finances in the Real World" was supported by the Boyer Family Fund, which is dedicated to enhancing experiential learning opportunities and curriculum development projects that benefit both management and non-management majors.
Michelle Choe '18, who majors in markets, innovation & design, is an Undergraduate Executive Intern with Communications.