Elizabethtown College Dean of Graduate & Professional Studies and the School of Business Najiba Benabess shared her financial wisdom at Chester County Future’s (CCF) College Boot Camp, a one-day program in early August designed to provide economically disadvantaged high school students with the resources to succeed in their first year of college.
This year’s boot camp, which CCF has hosted since 2016, took place in Newton Square, Pennsylvania.
Benabess’s presentation, “Mind Over Money,” was designed to help students manage their finances from the college perspective, and suggested four major steps to assist students in creating a budgeting plan: calculate your net income, list monthly expenses, organize expenses into fixed and variable categories, and make adjustments.
Additional topics Benabess covered included learning about different loan options, credit scores, and understanding the difference between credit and debit cards.
“These financial management skills that students learn before transitioning into the real world will fuel their goals, plans, and entrepreneurial desires for the rest of their lives,” Benabess said. “I then allowed the students to reflect by applying what they learned and creating their own budget- knowing their income and tracking their expenses.”
Financial literacy, according to Benabess, is one key aspect of successfully preparing students for real-world decisions.
“When students have financial management and literacy, they have the knowledge and confidence to make informed financial decisions,” Benabess said. “It allows them to responsibly manage their money, borrow and save, and plan and invest for the future. Having a strong foundation, and practicing money management as a student, can provide them the experience they need to grow and flourish.”
Through programming like the Boot Camp, CFF’s mission is to ensure that children in Chester County are prepared for and have access to the education and supports needed to become a self-reliant, productive member of society.
“I immediately was inspired to partner with CCF and support their mission and vision because I strongly believe that education is truly one of the most powerful instruments for reducing poverty and inequality and it sets the foundation for sustained economic growth; and therefore I encourage the youth to invest in it,” Benabess explained.
