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Pierce should offer personal financial workshops

College students have a lot on their minds, such as work, school, family and food. This leaves students with little time to manage their money properly. 

So Pierce should offer personal finance workshops to improve financial literacy. 

Santa Monica College has one-hour workshops in which students learn fundamental financial planning skills, such as budgeting, savings, wise spending, tax planning, credit and debt management and investment. Workshops are also offered via Zoom. 

According to innovativeeducators.org, this workshop will guide students through 10 essential money management skills necessary to take a more active role in managing their finances. 

Although Pierce offers personal finance classes, students may need more help. 

Many students cannot make a semester-long commitment for a financial management class. However, a one- or two-day workshop could offer a substantial amount of advice in a short period of time. 

Another option to solve this dilemma is by offering advice through the Counseling Center.

College students have not learned the basics of financial planning and proper money management. According to investopedia, financial illiteracy is common, with the Financial Industry Regulatory Authority (FINRA) attributing it to 66 percent of Americans. 

According to mindtreasures.com, financial illiteracy causes broken homes, school dropouts, dependency on predatory lending (payday loans) and government benefits, health issues (stress, depression, anxiety), bankruptcies, foreclosures, divorces and homelessness. 

Some other disadvantages that can happen as a result of this is being overconfident. According to cliftoncorbin.com, overconfidence could lead them to make poor decisions, such as taking on too much debt or investing in high-risk ventures.

Personal finance workshops would greatly benefit college students and would prepare them to independently manage their money in the real world.

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