Tips On Managing Your Money
By: Brittney Woods
On Thursday, March 27, 2014 in Pullen Hall 149 there was a presentation called "Let's talk Finances!" This presentation was presented by Tamara Lowry, the Director of Student Support Services. Lowry's main arguments were figuring out a financial plan, writing out the plan, and building good credit.
Instead of presenting a long, drawn out presentation, Lowry asked if there was anything specific the audience would like to talk about. It was interesting she asked because most of the time you expect a presenter to just give you facts and wait until after their presentation for questions, mainly concerning them. However, Lowry was very interested in her audience's concerns about finances and was willing to help in any way. The vast majority of people wanted to learn more about how to build good credit and how to start financial planning. Lowry stated, "I find it way easier to manage money because it's so limited."
Lowry broke down a three step process and explained in detail tips on starting your plan. Her first main argument was called "Financial Planning." She talked about defining our goals, making a plan, and taking action until our goals become reality. "If you have a goal and you never drive out a path, then it's just a dream," Lowry said. Judging by the audience's response they took this advice and became even more excited about their future. One person from the audience responded to Lowry and said "I completely agree! You can't just say you're gonna do something and then leave it sitting there."
Her second main argument was "Writing the Plan." She told us we must identify our income, list expenses, compare our income vs. expenses, and set priorities. Lowry explained, "you have to always ask yourself is it a need or want?" What I found interesting was she had us draw out a three circle graph. In the first circle was the "stuff I want," the second circle was the "stuff I need," and the third circle was the "stuff I have the money for." This was very thought-provoking because it made you really ask yourself what are your true needs vs. your desires?
Finally, her third main argument was "Building Good Credit." In doing so we must pay expenses on time, make loan payments on time, apply for the credit we need and can afford, and bouncing checks or overdrawing is never good. Lowry went on to talk about the importance of finances and gave us multiple scenarios of how to avoid being in debt.
Tamara Lowry's presentation was very helpful and was easy to understand. Sharing these tips with students, especially in college, made a huge impact and you could tell the audience is now more prepared for life after graduation. Lowry gave many encouraging words and left off by saying, "don't get a joint account if you get married!"
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