NGPF Podcast: Northwestern's Donna Wang Su on why college students need financial education too
While NGPF's original focus was on creating curriculum for the high school student, we know that only 1 in 5 high schoolers are guaranteed to take a course. So, no surprise that most college students lack financial skills and are in need of this essential course. The good news is that there are amazing educators like Donna Wang Su in colleges across America to fill in the gaps. In this podcast, Donna will share the distinct challenges that entrepreneurs face in managing their personal finances. Her insights on the blind spots of college students will help high school educators tailor their lessons accordingly. Enjoy!
- 0:00~0:11 Introduction
- 0:11~8:24 Current Events with Yanely: Viral or Vicious?
- 8:24~8:51 A word from NGPF
- 8:51~10:30 This Week’s Guest: Donna Wang Su, Associate Director of Operations at the Farley Center for Entrepreneurship & Innovation
- 10:30~12:37 On the entrepreneurship classes offered at the Farley Center
- 12:37~13:35 How Northwestern’s entrepreneurship classes are different
- 13:35~15:30 The lack of personal finance knowledge among college students
- 15:30~17:50 The behavioral side of learning about personal finance
- 17:50~21:30 Teaching personal finance to college students
- 21:30~22:54 Taxes and the gig economy
- 22:54~24:25 Biggest financial blindspots for students
- 24:25~27:04 Budgeting as a gig worker
- 27:04~28:35 How to approach budgeting
- 28:35~29:35 Conclusion
“I always say BYOB, Build Your Own Budget, but you also have to stay FULL: Follow-up, Update, Live, and Learn. You have to set a budget but make sure you follow up with it.”
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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