The basics of personal financial management may be falling by the wayside in today’s high-speed world, especially for students facing tough financial choices for the first time.
“We get caught up in the technology of banking, but we forget about things like budgets,” said Kaulana Park, senior vice president of community and business development at American Savings Bank.
ASB is teaming up with the University of Hawai‘i at Mānoa Financial Literacy Program to put on a series of workshops on personal finance to coincide with Financial Literacy Month. ASB officers will speak on topics like cash-flow management, credit and debt management.
“[We want to] make sure they have a good understanding of what are the resources out there that they can utilize to their advantage,” said Park.
The workshops are open to the public. Park said he hopes they will be useful for students, as well as faculty and other community members who may also need to refresh their understanding of personal finance.
“It’s somewhat prevention, somewhat remedy at the moment. And, most importantly, it’s creating a plan … [and] understanding how to leverage money in a personal way,” said Park.
ASB has been putting on workshops for high school and elementary students for years, but this will be the first time it will have collaborated at the college level. Park said that in college, attention shifts from learning about saving to learning about credit cards and student loans.
“You realize that if you don’t have your basics you’ll only get so far,” he said. “And you might be in a worse situation than when you started.”
Thursdays, 4:30-6 p.m. in Kuykendall Hall Room 307
April 12: Cash-flow management
April 19: Credit management
April 26: Debt management
and credit cards
Seating is limited. To register for the workshops, email firstname.lastname@example.org.