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BizBuzz
Students with financial savvy educate the public and learn valuable lessons in return.
Ninety students in the spring, 2008, online offering of Financial Markets and Institutions immersed themselves in more than class preparations, fanning out across the community to present financial literacy-related topics to South Florida newcomers, including immigrants, through a “Financial Literacy Project.” Experiences vary from site to site. At the Kendall Library, Michelle Maceo’s group went to educate people about how to be better home buyers, “from beginning to closing.” “I didn’t know I had the capacity to change someone’s life by talking to them.” —Michelle Maceo
After the first session, “I had an adrenalin rush,” she said. “I didn’t know I had the capacity to change someone’s life by talking to them.” Her enthusiasm only grew, despite logistical problems securing the space and overcoming language problems. “I realized that you have to go out and apply what you learn in class, and then you learn a lot more,” she said. Monica Kakanis’s team held eight sessions at Acción in Little Havana and gained insights into cultural differences in the process. “It was a very emotional experience.” —Monica Kakanis “We think people were very interested in what we had to offer but were shy about sitting with us,” she said. “Maybe they felt they would lose face by showing they needed help with finances.” She also learned about social responsibility.
“Being socially responsible is part of a college education,” she said. “I never knew that people didn’t think to have a bank account, so my eyes were opened. It was a very emotional experience that made me more open-minded, more understanding, and more determined that, as I grow, I will participate in the community and do more than just go to work.” Setting up shop in the Student Learning Center, CBC 106A, gave Sharlita Millington’s group access to students. “All along we’ve asked them what they wanted to know about and tailored our presentations,” she said. “Before finals, they requested tutoring, a different sort of request, but one we were happy to fulfill.” And though most of the students worked in groups, Satyam Patel worked solo in Homestead, where he lives, holding three sessions at the local library about credit cards and lines of credit. “I spent a lot of time with the people who came and felt that what I was doing—teaching immigrants about debt reduction and not overspending—was a great thing,” he said. Enter Students in Free Enterprise. Many of the students in the class, taught by Deanne Butchey (PhD ’05) instructor, Department of Finance and Real Estate, have joined Students in Free Enterprise (SIFE), of which Butchey is the new faculty advisor. Founded and funded by the Pino Center, SIFE will help sustain the financial literacy projects.
“SIFE will provide resources, funding for flyers and posters, and leadership,” said Kakanis, a SIFE member. “It can also help set up relationships with community centers where presentations will be welcomed.” She plans to create a handbook for SIFE based on her experience. “I’ll provide tips about how to draw more people and how to secure a a location for the session that is private but still close to other activities that might attract visitors,” she said. Millington, also a member of SIFE, agreed that the organization will play an important role in “keeping the projects going as other students take the course or get involved in community service.” |
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