Personal finance classes uncommon

Balancing a checkbook, managing credit card debt and paying bills -- these are certainly financial hallmarks of a post-college lifestyle. Some students learn good financial fundamentals from their parents, some learn from their own mistakes and others look to the University to provide instructions.

Yet thus far, there is no credit-bearing class in consumer economics available to Penn undergraduates.

There are non-credit courses offered to the general public through the College of General Studies that seek to teach personal financial skills. University students who pay are eligible to take them as well.

"The problem is that these classes tend to be more for adults who are looking to plan out their future," said Nadia Daniel, manager of non-credit programs for CGS.

"Do I get many students taking these classes? Not really. Should they? Absolutely."

This semester's course is called "Women's Financial Savvy" and runs for one full day at a cost of approximately $125. It seeks to help participants understand practical financial applications that deal with taxes and investments.

In the past, CGS has had non-credit classes that specifically address personal financial management and planning.

Still, at other schools, personal finance is a credited class.

The University of Delaware offers a consumer economics class through its Department of Consumer Studies.

Blayze Lewis, a senior at UD, took the class last year.

"It was great," Lewis said. "So many people don't know how their credit card works, and they run up huge debt without knowing it."

The class, called "Consumer Financial Management," also taught Lewis "how to buy a home."

Daniel said that if there was considerable student demand, she could create a non-credit personal finance class geared specifically toward undergraduates.

"It can be so amazingly helpful," Daniel said. "I would certainly be willing to put together a program next spring for the undergrad population."

The Wharton School does not offer courses in consumer economics, but, according to Beth Hagovsky, senior associate director of Wharton's undergraduate program, there are options for students interested in the subject.

"We'll have programs and panels throughout the year, but in terms of classes, there is nothing that is geared specifically towards helping students figure that out," Hagovsky said.

She added, "What we're teaching is supposed to be more theoretical and oriented towards learning business skills."

Career Services also offers seminars on personal finance. "We always offer an informal seminar on budgeting and managing after graduation," said Peggy Curchack, associate director of Career Services.

"We teach students how to manage credit card debt, loan obligations and how to live within a budget."

Curchack added that she feels that the subject need not be taught in a credited class.

"It certainly seems to me that it could be a Saturday preceptorial on managing your personal finances."

And according to Rebecca Bushnell, dean of the College, there are plenty of ways to gain real-world experience in a classroom setting that do not deal with handling practical financial matters -- including several service-learning courses and an art history course that engages students in curating a real exhibition.

"We don't do [personal finance], but what we do offer is to think about ways in which we can teach in a rigorous way to give students hands-on experience in a lot of fields," Bushnell said.

"I'm not saying it's not important. I'm saying an academic course is not the right way to teach these kinds of skills."

College junior Li-Ming Hu agreed.

"I think it's useful for all, but it should be a proseminar."

Hu added that she would not pay extra to enroll in a personal finance course, nor would she enroll in a credited consumer economics class.

"It seems like very basic stuff," Hu said. "I mean, who taught our dads to balance checkbooks?"

Please note All comments are eligible for publication in The Daily Pennsylvanian.