Hundreds of students attended the annual Financial Independence Seminar Saturday to acquaint themselves with pertinent financial information.
The seminar, held in Grainger Hall, consisted of lectures focusing on financial management after graduation, credit card debt, the current economic crisis and the economy's impact on students' futures.
The seminar also provided an opportunity for students to schedule free personal financial consultations with financial experts.
According to Wisconsin School of Business lecturer Ron Smith, the goal of the seminar was to provide financial guidelines to students, especially those who are graduating in the next two years.
""We know that [students] are smart as they can be, but they don't really understand financial kinds of issues,"" Smith said. ""We are trying to help them so when they end up here they know how to get rid of their debts, how to start saving money and investing their money.""
John Benjamin, vice president and portfolio manager of M&I Bank, who was also one of the event's speakers, said the U.S. is in a severe economic recession and it is important for people to know what to expect.
""From my perspective, it is important for students to have the opportunity to see a real world application of what's being studied in school … especially folks that are going to be graduating and moving out into the workplace,"" he said.
According to Drew Lake, chair of the Financial Independence program, more than 300 students participated in the seminar. Most participants were students who will graduate in the next few months, but several young undergraduates and post-graduates also attended.
""All you have to do is turn on the television or read a paper to know that the economy is horrible right now, and a lot of [students] just know that this is something that they need to learn about,"" Lake said. ""We all have to play by the rules of economy and rules of finance.""
Megan Williams, president of the UW-Madison Society of Personal Investments, who has been working with Wisconsin Alumni Student Board, said the Financial Independence Seminar provided students with strategies to better their financial decision-making in the future.
""[The seminar] really opens your eyes to new information that you really need to know in a couple of years … I just want to enlighten myself with financial information,"" Williams said.
