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Maryville College Students Tackle Finance Basics

Newspaper article News Sentinel

Maryville College Students Tackle Finance Basics

Article excerpt

MARYVILLE -- Imagine buying a ticket to see your favorite sports team or band play. But when you get there, the $150 ticket is lost. Do you buy another ticket?

That scenario was presented to a classroom of Maryville College students.

No, chimed in Timela Crutcher, a junior. If the ticket cost $150, she said she would have saved a little each paycheck to pay for it.

"If I lost the ticket, it's on me. It wasn't meant to be," Crutcher told Kevin Gormley, a personal finance instructor at Maryville College.

The class of about 15 students was reviewing a financial literacy pretest on Tuesday, the second day of class. Maryville College recently kicked off its January term, a campus tradition since the late 1960s where students take one experiential class daily during a compressed period. This year, the term is Jan. 4-22.

Although personal finance has been offered before, it was the first time Gormley, a certified financial planner and CPA in Knoxville, was teaching it. Finance can be difficult for a lot of people, he said, noting he works with highly educated people who have advanced degrees in other areas, but still don't understand finance.

"Most people have a passion for what they do for a living, and managing their money is typically not that passion," Gormley said.

But it is that passion for him. So he wanted to teach students more than the academics of finance, with knowledge they'll use such as how to create a budget and personal financial plan, as well as understanding debt, ways to save and how to avoid scams. …

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