Learn about Financial Sustainability during Money Smart Week
January 7th, 2010 | By SMWC
Financial Sustainability Conference @ MoneySmart Week
Money Smart Week (MSW) Indiana 2009 was October 10-17. Video recordings of the presentations are available below.
Saint Mary-of-the-Woods College, a proud partner with the Federal Reserve Bank of Chicago, brought debt experts to campus for the Financial Sustainability Conference of MoneySmart Week. The sessions were recorded and are available by clicking on the links below.
An education is an investment that is often financed with scholarships, grants, loans, and credit cards. According to the American Association of State Colleges and Universities, "two out of three college students graduate with debt and the average borrower who graduates from a public college owes $17,250 from student loans." (Volume 3, August 2006). Even worse, "the number of college graduates with at least $40,000 in student loan debt has increased 10-fold in the past decade." (Paying with Plastic - Survey, National Association of College and University Business Officers, nacubo.org)
Presentation Topics
- Establishing and Reestablishing Credit in Today's Economy
- Establishing Credit
- Tricks Our Brains Play On Our Wallets
- Tips to Avoid Identity Theft
- Job Hunting Tips in Today's Economic Climate
- Student Borrowing Trends
- Life After the Woods; Perspective from the ISU Credit Union
- The Current Economy - Dialogue with the Gurus
- Student Panel - Money issues from the perspective of current students
Presenters
Erin Alsman Robertson
Establishing and Reestablishing Credit in Today’s Economy
Erin Alsman Robertson (SMWC class of 2000)
Keynote Speaker
Director, Mortgage and Credit Services Indianapolis Neighborhood Housing Partnership
Erin Robertson is a life-long Hoosier who is very familiar with many of the economic and social issues facing the residents of central Indiana. She serves as the Director of Mortgage and Credit Services at the Indianapolis Neighborhood Housing Partnership (INHP), a nonprofit agency that empowers low- and moderate-income families to attain, maintain and sustain long term, successful homeownership. In this position, Erin oversees a HUD-approved program delivering pre-purchase housing counseling to families seeking to overcome barriers that presently stand in the way of obtaining mortgage financing. Some of Erin’s notable accomplishments since joining INHP are the design of a counseling program geared to the specific needs of families participating in the Section 8 Homeownership program, development of a standardized process for delivery of services and increased utilization of technological resources. Erin received her Bachelor of Science degree in Psychology from Saint Mary-of-the-Woods College in 2000 and her Master of Business Administration degree from Anderson University in 2004. She is also a Certified Financial Planner™ professional and was certified by the National Foundation for Credit Counseling as a Certified Consumer Credit Counselor. Erin also has received the Indiana Homeownership Education and Counseling certification and has been certified as a Credit Report Interpreter by the Associated Credit Bureaus.
Discussion Questions
- What are 3-5 aspects of Erin’s presentation that stand out to you?
- What is a credit report and what might be on it?
- How long can old, negative information last on your credit report?
- What might be a good credit score?
- Annualcreditreport.com will allow you to pull how many free credit reports from each bureau every year?
- If you cosign for a loan that you didn’t personally take out, how much liability do you assume for the payments?
- Why might health insurance or disability insurance be important for young people?
- What one key aspect of Erin’s presentation stood out to you the most?
Karla Bensinger
Establishing Credit
Karla Bensinger
Old National Bank
Karla Bensinger has lived in the Terre Haute community all her life and has been involved extensively in various community organizations. Karla’s banking career has spanned over 30 years with various job appointments along the way. She began as a bookkeeper and teller, and from there advanced to Manager of Customer Service, Loan Officer, and Banking Center Manager. Karla is currently the Affinity Relationship Officer for the Northwest Region of Old National Bank. This position entails, conducting presentations at organizations and companies which covers the concerns of our current economic environment. Many of the topics covered are about obtaining and keeping good credit, guarding against identity theft, the workings of FDIC Insurance and being prepared for retirement. One of the most gratifying aspects of her job as an Affinity Relationship Officer is meeting with individuals and assisting them with their financial concerns.
Discussion Questions
- What is the average balance on charge cards in the US?
- In your opinion, what are some of the best tips for using credit cards and establishing credit?
- Where can you find your credit score?How does this affect your ability to borrow from a bank?
Ron Moore
Tricks our Brains Play on our Wallets
Ron Moore
Adjunct Professor, Saint Mary-of-the-Woods College
Ron has served 24 years as a civilian in the Department of Defense, mostly in the Pentagon as a staff member for the Secretary of Defense. He also had assignments on the President's staff (Office of Management and Budget), at USAF headquarters in Europe, and at Harvard. Since he retired from Federal service in 2003, Ron has been an adjunct instructor in history, economics, political science, and management for various graduate and undergraduate programs at both SMWC and ISU.
Discussion Questions
- What is behavior economics?
- Explain the concept of “free” money.
- What do “bargains” or flea markets tend to do to our brains and wallets?
- How are you sometimes irrational with your money?
Laura A. Turner, J.D.
Tips to Avoid Identity Theft
Laura A. Turner, J.D.
Deputy Attorney General
Professional Licensing & Homeowner Protection Unit, Consumer Protection Divsion
Born and raised in Terre Haute, Indiana, Laura Turner has always been interested in the law. Turner attended high school at Terre Haute North Vigo and graduated magna cum laude from her undergraduate alma mater, Indiana State University, where she majored in Criminology and minored in Economics. Turner went on to attend Indiana University School of Law-Indianapolis where she earned her Juris Doctorate while completing 180 hours in pro bono legal services. Turner serves as a Deputy Attorney General for the State of Indiana in the Professional Licensing and Homeowner Protection Unit.
Discussion Questions
- What does the Consumer Protections Division in Indiana do?
- Explain the “Do not Call” Law in Indiana.
- What are some ways to avoid Identity theft?
Jackie Fischer
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Job Hunting Tips in Today's Economic Climate
Jackie Fischer
Career Development Center, Saint Mary-of-the-Woods College
Jackie has been employed at Saint Mary-of-the-Woods College for 15 years, including the last 12 years as associate director of the Career Development Center. She works with campus and distance students throughout their career development process, including assisting them during experiential learning activities. She also teaches adjunct in the Social and Behavioral Sciences Department and is currently pursuing her doctorate in Counselor Education from Indiana State University.
Discussion Questions
- Why is networking important in job searches?
- What might be considered a traditional job-search method?
- Why is it important to engage in non-traditional methods?
- What is an elevator speech?What is your elevator speech?
12:00 – 12:25
Watch the VideoCast - click on the link below:
Amanda Vester
Life After The Woods; Perspective From the ISU Credit Union
Amanda Vester (SMWC Class of 2005)
Marketing Coordinator, ISU Credit Union
Amanda has been with ISU Credit Union for two and a half years. She oversees all aspects of marketing from business development to press releases to website updates and everything in between. Prior to the credit union, Amanda worked in the SMWC Office of Admissions. While a student at SMWC, she wrote for The Woods newspaper and played softball all four years. Amanda recently received her Masters in Management from Indiana Wesleyan University. She is also on the Residential Life staff as a Resident Community Advisor at SMWC.
Discussion Questions
- How did a “work study” at SMWC help Amanda get started in her career?
- Describe some of Amanda’s tips on money management?
- Why is “networking” highlighted in the presentation?
The Current Economy - Dialogue with the Gurus
Panel seminar with:
D. J. Wasmer
Director of the Master of Leadership Development, Saint Mary-of-the-Woods College
Frank Whittle
Professor of Business, Saint Mary-of-the-Woods College
Darrel Gosse
Visiting Professor, Saint Mary-of-the-Woods College
Dr. D.J. Wasmer is a Professor of Business and Director of the Master of Leadership Development program at Saint Mary-of-the-Woods College. Dr. Wasmer has taught Marketing and Economics for over 25 years and previously served as Chair of the Department of Business and Information Systems at SMWC for 15 years. He has published a variety of articles primarily in the areas of internal marketing, services marketing, and marketing education. In addition to his duties at SMWC, Dr. Wasmer has held leadership positions on a number of not for profit boards, currently serving as Treasurer of the Terre Haute Children’s Museum.
Frank Whittle, Professor of Business, has taught at SMWC for nine years focusing in the areas of Human Resource Management and Business Administration. He contributes to a number of committees in the community such as Student Society for Human Resource Management (SHRM Advisory) and the Transportation Advisory Committee. He owns ADA Employment LLC, which contracts with the Department of Labor/Office of Workers Compensation Program and Indiana Vocational Rehabilitation Services.
Darrel Gosse has enjoyed his accounting career. After graduating from the University of Iowa as an accounting major, he was employed by Arthur Andersen LLP as an auditor for about 15 years (including 4 years in Australia – Melbourne and Sydney). Next he earned a PhD at Michigan State, and taught for several years at Indiana University (Bloomington) and Ball State University. His most recent experience was several years as a Controller for an Ohio manufacturing company that manufactured automobile parts for Honda. He has been fortunate to have had extensive experience in public accounting, managerial accounting, and teaching.
Discussion Questions
- What factors does DJ attribute to causing the 2008-2009 recession?
- What was the national unemployment rate at the time of the presentation? How does that compare to Indiana’s unemployment, or Indiana’s past unemployment rates?
- What factors might be beneficial for a student today to make herself more marketable in the job field?
- Why are hot tubs more expensive?
DJ Wasmer
Frank Whittle
Darrel Gosse
On the Web...
Resources and websites related to your finances.
- Federal Reserve Banks
- Building Wealth
- Protecting Yourself from Overdraft and Bounced-Check Fees
- Your Credit Report
- Consumer Action
United States Department of Labor:
- Top Ten Ways to Prepare for Retirment
- Women and Retirement Savings
- Taking the Mystery Out of Retirement Planning
- General
Other
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