Bauer Hosts Second Annual Financial Symposium for Houston Community,
Experts Stress Importance of Building a Financial Foundation
Having a financial plan in place may seem overwhelming if you don’t know where to start. As student loan debt reached the $1 billion mark and continues to grow, many students are looking for answers to ease considerable stress on their finances.
With a goal of increasing financial literacy on campus and in the Houston community, the C. T. Bauer College of Business at the University of Houston aimed to simplify the process during its Second Annual Financial Symposium on April 13. The event focused on building a financial foundation and making a blueprint to successfully achieve financial stability.
“One of the challenges, as a nation and as individuals, is knowing how to manage our assets and how to plan for the future and think about education as an investment,” said Frank Kelley, associate dean of Undergraduate Business Programs at the Bauer College. “Our goal is to further educate and help students to plan and pay for college and to graduate without a lot of student debt.”
Organized by the college’s Program for Financial Literacy, the symposium included several facilitated sessions and activities covering a range of financial topics, including money management, understanding a credit report, embedding personal finance into education and careers in finance.
“It’s encouraging to see young faces here to learn about an important topic that is near and dear to my heart,” said James Hong (BBA ’05), president of the Bauer College Alumni Association and keynote speaker for the symposium.
“Financial literacy is something that I think this country as a whole can learn more and more from,” he added. “It helps to learn at a younger age because you’re going to be better off as adults and contributors to society.”
Having a plan, setting goals and understanding “want” versus “need” is something that students should focus on in order to be successful in saving, Hong said.
“You guys are in a gifted position as students,” he said to the audience. “You are still in school learning, but you’re also getting a glimpse of the real world. It’s an important time in your life because yes, it’s fun to enjoy college, go out and be with your friends, learn different aspects of your degree, but also it’s important you to have a glimpse of the real world without being in the real world.”
By Amanda Sebesta