No one can avoid making financial decisions in life, but Forbes reported in 2015 that only 57 percent of Americans are financially literate. The Carlotta Welles ’39 Center for Career Planning & Resources (CP&R) wants to ease the stress and confusion. This semester, the center launched the Financial Literacy Program with the goal of helping Scripps students make smart, informed financial decisions during college and after graduation. The Financial Literacy Program is funded by former chair of the Scripps Board of Trustees Linda Davis Taylor P’11 as well as an anonymous donor.
“Concepts we don’t understand can be both overwhelming and intimidating, particularly when it comes to money. I believe the more we understand a subject, the more confident we become in it,” says Vicki Klopsch, executive director of CP&R. “This is our opportunity to help students build a practical skill set around financial education within the context of their liberal arts education.”
This program is made up of four modules that build on each other, though participants are not required to attend every event. These modules are augmented by the online platform Salt, which offers tools and resources that are accessible to all Scripps students and alumnae, as well as occasional one-off programs on specialized topics. The introductory module, held in February, brought a fiduciary advisor to campus to speak with students. A March 2 workshop covered basic budgeting skills, while an upcoming event in late March will address how to establish credit. CP&R will also hold a special workshop on salary negotiation on April 10 to recognize Equal Pay Day.
Financial literacy is a topic that many in the Scripps community feel strongly about. The new program’s curriculum and workshops represent a collaboration between CP&R, Scripps faculty, alumnae, and parents, and the Office of Financial Aid.
“I’m thrilled to be a part of this program because I want to help empower Scripps students to pursue their dreams. Feeling comfortable with budgeting, saving, and investing is critical to long-term personal success,” says Madeline Ripley ’14, a senior investment associate at Cambridge Associates who majored in economics. “This program is by and for the Scripps community, and I hope that makes the content more relatable and engaging.”
The Financial Literacy Program will be offered once each semester to students and will soon be available to alumnae as well.
For more about CP&R programs and events, click here.