During our college years, we are taught a variety of subjects ranging from general requirements to major courses. Financial literacy, which is one of the most necessary skillsets in modern life, is not typically incorporated into our undergrad curriculum. As students navigate campus life, most of us constantly struggling with our budget to cover housing, food and other responsibilities. After graduation, we are responsible for conducting ourselves professionally and succeeding financially.

“A holistic education at our college includes both knowledge and personal growth,” says Sridhar Sundaram, dean of the College of Business and Economics. “I strongly believe it is our obligation to help with the personal growth of our students. Our efforts to support the ‘financial wellness’ of our students is a key part of this personal growth.”

As we negotiate job offers from companies beyond the base salary, it is essential to have a basic understanding of what benefit packages, including health insurance and retirement savings, mean. Time is on our side as college students because the earlier we learn how to budget and maximize our earnings, the better our financial lives will be in the long run. With so many financial investment options out there, it would be ideal to receive that education in the same place you’re receiving the rest of your academic education.

Cal State Fullerton alumnus and certified financial planner John Nguyen ’09 is piloting a set of financial literacy workshops at the College of Business and Economics in the coming months. These workshops will provide students the opportunity to engage with a certified financial planner and learn how to get the most out of their money.

The goal is “to make personal finance personal, relatable and accessible to all college students and young adults without any cost, free from any promotions or solicitations,” says Nguyen. “A pure educational experience free of judgement, useless technical jargon and any strings attached.”

The workshops include how to budget and provide a toolkit for personal financial planning into the future. Students do not usually have access to resources from professionals until later in their careers, and starting in our 20s is a great advantage.

“If I can save students two or three years on a loan or tens of thousands of dollars, I am happy to do that,” explains Nguyen. “I want to address the gap that is present for young professionals in their financial decisions.” 

On the same note, strategic partnerships between the College of Business and Economics and surrounding Orange County companies are essential for students. Commercial Bank of California is among those partnerships supporting student success.

“We have deepened our relationship with Cal State Fullerton and financial literacy, with CRA, with small businesses and with the Small Business Development Center; so, we truly do not just believe that it should be a vendor-customer relationship,” explains Ash Patel, CEO of Commercial Bank of California. “It should be a strategic partnership. It’s a win-win for both sides. Ultimately, the students at this college get a roadmap to guide them.”

Chris Swarat, an associate dean at the College of Business and Economics focused on community engagement, says this of financial literacy education and its significance:

“We are committed to supporting the growth of our students, team-members and community. We realized the central role personal and financial wellness plays in helping individuals set and achieve goals for themselves and their families. Knowing how to access and manage financial resources is fundamental to these efforts. By opening safe spaces for conversation, with alumni and strategic partner support in coaching and mentoring, the college’s launch of Learning and Investing for Empowerment, or more simply LIFE, brings our community together to change lives, positively impact organizations and ultimately facilitate transformation of the world.”

To fine-tune personal financial planning, CBE students learn directly from finance professionals, an opportunity that opens doors after graduation professionally. For more information on the financial literacy workshops and initiatives, please contact Associate Dean Swarat at [email protected].