It’s all about the Money: New Program for Credit Wi$e Warriors

Irina Khusid, Ph.D., is teaching college students at East Stroudsburg University of Pennsylvania how to keep their pockets full.

The associate professor of psychology along with Sheila Handy, Ph.D., professor of business Management and Jack Truschel, Ed.D., professor of academic enrichment and learning was awarded a Higher One Money Mentors grant in the amount of $3,500 for her program: Credit Wi$e Warriors. Dr. Khusid plans on using the funding to host a few financial literacy workshops throughout the semester. “I want the program to provide students with a personal financial skillset that will enhance their abilities to refrain from making unplanned purchases, misusing credit cards and getting into financial trouble,” she said.

The program targets students in First Year Experience (FYE), a program at ESU which prepares students to succeed in their first year in college. Students enrolled in FYE will engage in a series of activities related to personal finance, budgeting and credit card usage.

On October 29, students attended a presentation during which Robert Willever ’75, certified financial planner for Willever Wealth Management and chair of the ESU Foundation Board of Directors, spoke about personal financial management, credit card use, spending habits, student loans, and balancing a budget.

“It’s really essential for us to have these conversations with our students as many of them are living on their own for the first time and don’t know how to manage their money,” Dr. Khusid said.

The weeks to follow will teach students how to focus on paying bills and budgeting using Budget Mania, table top-sized game that reinforces personal finance skills. Budget Mania demonstrates the practical application of algebra in everyday living and teaches money management and budgeting. In the game, players, who have different bills and different savings goals, must manage their personal budget by paying their bills on time, meeting their savings goal, and clearing the balance on extra credit cards. Students will examine the pros and cons of using credit cards and how to control debt.

A total of 375 students are participating in the Credit WI$E program as part of the university’s First Year Experience program.

“We want to make this as real to students as possible,” Dr. Khusid said. “The hope is that after they finish the program they will be better equipped to effectively manage their personal finances.”

Dr. Khusid’s main focus is to keep the holes in students’ pockets as small as can be.

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