Sunday, February 3, 2013

Personal finance teaches life skills | The Current Online

by Jetta Barbar

With the rising costs of tuition and living and increased unemployment rates it is more important than ever for students to be educated in the area of finance. Luckily, MCCKC-Longview offers a course to help students plan for their financial presents and futures.

Skylar Rolf was the professor of the course for the fall 2012 semester at the Longview business department. His experience with finance ranges from developing a business with his brother on his family?s farm as a teenager, to earning his MBA and serving as the Chief Operations Officer at a local nonprofit organization.

?This course teaches students the ins and outs of personal finance and equips students with the knowledge to succeed in their personal financial life,? Rolf said. The course covers a variety of topics, from career planning, taxes, banking, investments, consumer strategies, and housing.

?Finances impact everyone, whether we have very little money or are extremely wealthy. It?s important that students are equipped to handle money wisely.? The importance of a course that teaches these skills is clear in this economic climate.

To enhance students? understanding of the financial world, Rolf brought in guest speakers working in different areas of the financial sector. Students heard from an accountant, a banker, a mortgage loan officer, and a personal financial officer. ?Each of these individuals were able to share their perspective on personal finance and how it affects people?s lives. They gave the students insight into what a career in finance may look like, as well as some tips on how to be successful in reaching their own personal goals,? Rolf said.

Professions in this field include many options, from insurance to personal financial advisor. Rolf stated that the top financial professions include positions in accounting, banking, advising, investment management, insurance, lending, and analysis.

?The most important aspect of personal finance is understanding how money works and being disciplined to execute your personal financial plan.? Rolf stated that some students think that being a math whiz is essential to having a career in this field, but that is simply not true. The most important component of succeeding financially is being a planner.

The class is offered as an elective, but it is highly recommended by Rolf. ?I hope that students take advantage of the opportunity to learn about personal finance. It?s a course that will give them a solid foundation as they begin their careers.?

Rolf?s final financial advice is ?creating a financial plan and monthly budget, and then sticking to it. If an individual can stick to a budget and spend less than they make, they will usually be in good shape.?

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Source: http://longviewcurrent.org/2013/02/01/personal-finance-teaches-life-skills/

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