USU Student finances in class and clubs
The old adage, “The only sure things in life are death and taxes” might propel USU students to find new ways to reduce debt and increase savings through a family finance class and with a new organization on campus called Aggie Saves. Alena Johnson, who teaches the family finance class, said her students cover a wide array of financial content including budgeting, savings, credit cards, credit history, insurance, investment, retirement and identity fraud. Family finance counts as a depth social science credit, and there are no prerequisites to taking this course.
Johnson, who obtained her bachelor’s and master’s degrees at USU, said she taught as a graduate student and “was more than happy” when she was asked to stay on as a professor.
“I wish I had the opportunity to take this class when I was in school. Teaching it even reminds me to do things, like order a credit report, and I keep learning more and more about taxes,” Johnson said. Johnson said her class has a wide assortment of demographics, spanning from students right out of high school who don’t have credit cards to married couples that have been doing their own finances for years. After taking this class, Johnson said students have a better understanding of how to balance their budget. Some are even able to file their own taxes, and it gives them a “great jump start” on their own finances, she said.
Mikalyn Newhouse, sophomore majoring in speech pathology who took the class last semester, said, “I was surprised at how complex finances really can be, but I feel pretty knowledgeable now about building my credit and staying out of debt.” Apart from the classroom, there are other ways for students to learn about finances, such as several clubs on campus and the new nationally affiliated program called Aggie Saves. Aggie Saves is a pilot program being implemented at Kansas State and Virgina Tech as well as USU and is affiliated with the America Saves program, said student coordinator, Christine Ballard. It is tailored to USU students, faculty and staff and encourages them to use sound financial practices by reducing debt and promoting savings, according to Ballard. If it is successful, it can grow to other universities around the nation, Ballard said. Student coordinator of the program, Christine Ballard, said, “We have a negative national savings rate, so students need to form good habits now.” Ballard, senior majoring in family finance, said with credit cards on the rise and the use of students loans, it is important for students to learn how those things will affect them in the future and should start planning now. “With Aggie Saves, people will sign up and say what their goals are, such as saving for a particular item, a vacation, or just reduce their debt,” Ballard said. The member will be contacted by program coordinators who will help them with those goals, she said. They can also get on the Web site and talk to other savers.
In conjunction with America Saves week, Aggie Saves will be hosting a savings event Feb. 25 in the Taggart Student Center Ballroom with speakers on finances, financial institutions offering better rates and lower minimums as well as food and prizes. Ballard said the Aggie Saves program is working on contacting other clubs and organizations on campus and offering to give a presentation on finance and how it applies to individuals as well as groups. For more information on this presentation, contact Christine Ballard at christine.ballard@aggiemail.usu.edu.-renae.cowley@aggiemail.usu.edu