Smart Woman Securities empowers female students
By Christina Marder, Staff Writer
College life can lead to a serious dent in the average female student’s bank account; it is easy to think that spending money on dinner, online shopping and campus event tickets won’t add up. So, it is imperative that young adults become financially smart. Women entering a new school year with a full bank account of summer earnings quickly realize spending comes too effortlessly. The College has recently created a way for its female student population to become financially responsible and to realistically prepare for the future.
The College introduced Smart Woman Securities to its campus January 2012, aiming to provide “undergraduate women with the skills necessary to make investment decisions through market education, exposure to industry professionals and real-world financial experience.” The organization is non-profit and currently operates at 18 schools around the United States, including Boston College, Brown University, Georgetown University and Harvard University. Although financial and economic professions have mostly been male-dominated career paths, Smart Woman Securities is looking to change that. The Smart Woman Securities mission is to empower a new generation of college women by educating them on investing and saving money. Smart Woman Securities on each college campus has organized instructive seminars, mentoring initiatives and meetings with successful investors. Additionally, according to an Oppenheimer Funds survey from 2006, 76 percent of women stated they wished they had learned more about investing growing up. For more information on how women college students can become involved in financially empowering women or become educated themselves, visit smartwomansecurities.com.
As for the rest of the student population (males included), there are a number of steps one can take to ensure financial success.
1. Write down everything you buy, whether it is food, clothes, textbooks, concert tickets or gas money. Stay organized and log what you have bought so that you can have an idea of your spending patterns. Keeping track will allow you to see if you are a victim of unnecessary spending.
2. Always carry cash, don’t make it a habit to use your debit or credit card. Seeing the physical money leaving your wallet will give you a guiltier conscience. Since debit or credit cards are so easy and easy to swipe, it is easy to forget that money is being used.
3. Look for small ways to save money. Walk instead of drive, take the time to look for discounts, don’t buy that extra bag of chips, purchase a Keurig coffee machine from Walmart and make your own coffee at home instead of buying it and finally invest in used or rented textbooks.
4. Job hunt on campus; any small income helps when it comes to being a broke college student. Oftentimes, students return to school with no way to make money to counteract their spending.
5. Do your research before making a purchase: is this the best possible deal you can get on the product you are looking at? Does the website you are using have a discounted promotional code? Does the quality of the product match the amount you are paying?
It is not only important, but also fairly easy, to become financially aware and responsible. College students especially should learn good spending habits. While Smart Woman Securities empowers women to become more financially independent and aware, it is truly possible for all college students to learn these habits. While financial struggles do not perfect themselves overnight, taking action early enough can benefit students greatly for the future.
