Recent CBA Grads Get Personal Finance Instruction
Concerned about the fluctuating economy David Offenberg, assistant professor of finance-computer information systems, invited recent graduates from the College of Business Administration to attend a financial seminar. The group discussed their entrance into the workforce since leaving Loyola Marymount University, as well economic choices and how to plan for the future.
“It’s incredibly important for recent graduates to understand the current state of the economy and how that affects their personal budgeting,” Offenberg said. “I was overwhelmingly concerned with the trials they are facing and was compelled to discuss with them how to plan, budget and save because, in this environment, guidance is vital.”
Offenberg told alums that before they can even think about investing, it is critically important to track their spending habits to find out exactly where the money goes, whether it is for rent, food, gas, clothing, or entertainment. Brian Barclay, an LMU alum and investment consultant from Ameritrade, then counseled the group on investing and outlined their financial and retirement options.
Alejandro Hinostroza, who graduated from LMU in May, noted that, “It’s hard to get sound financial advice. No one is willing to do it for free or offer up their time. This was therefore a unique opportunity where I learned how I can benefit from and survive in this economy.”
Benet Heams and Anna Marie Janisse, also 2008 graduates, echoed his sentiments. “I was reminded that I need to act now to plan for my future. I’ve realized that long-term goals come fast and I’m motivated to use what I learned to make my life better,” Janisse said.
“I’m new in the workforce and I’m just now having the opportunity to invest but I have no idea what I’m doing,” Heams confessed. “I need the confidence I learned tonight to make stronger and better financial decisions.”
Attendees left the seminar with two simple, practical recommendations that can be implemented almost immediately. First, have a cash reserve to cover set expenses for three to six months, which will allow you to continue living your current lifestyle should your financial circumstances go awry. And two, protect your number one asset: namely, yourself and your ability to make money by having the proper benefits package in place.
To learn more about LMU’s College of Business Administration, please visit http://cba.lmu.edu/.