NMSU Red to Green Money Management Program educates students on financial literacy

April 2, 2014 by Dana Beasley, NMSU News Center

With April recognized as Financial Literacy Month, New Mexico State University Red to Green Money Management Program and Career Services are participating in a national initiative to increase personal finance knowledge and raise awareness about the importance of that topic.

This issue is especially important for students taking out loans or those accumulating credit card debts, as they are often not properly educated on the consequences and fiscal responsibility that go along with managing their finances.

“When you’re young, the thought of tomorrow is: ‘I’ve got plenty of time.’ But if you aren’t paying attention to how much money you’re borrowing, you become trapped by some choices you made at a very young age that may impact you for the rest of your life,” said Roseanne Bensley, associate director of Career Services and Financial Literacy Fair event coordinator.

In order to educate students of the significance of being financially literate, NMSU’s Red to Green Money Management Financial Literacy Program will host the second annual Financial Literacy Fair, sponsored in part by Wells Fargo and the NMSU President’s Office. The event will take place from 10 a.m. to 3 p.m. Wednesday, April 16, on the first floor of Corbett Center Student Union.

“Promoting financial education is one of Wells Fargo’s core values and we’re proud to partner with NMSU to offer this important program to the community,” said Ryan McGrath, vice president and business banking manager at Wells Fargo. “We take seriously our responsibility to educate and encourage young people to develop savings habits that will last for a lifetime. And we encourage adults at all stages of their lives to utilize our ‘Hands on Banking’ program, a free online resource that teaches the basics of responsible money management, including how to build and manage your credit, buy a car or a home and plan for retirement.”

Multiple businesses involved in financial services — banks, credit unions, investment firms and debt management companies — will be in attendance at the fair. These organizations will provide resources related to financial literacy, such as information about identity theft, credit score and reports, responsible use of credit cards, student financial aid and investments.

“We’re trying to educate students about student loans, identity theft, managing debt, free annual credit report, FICO score interpretation and other valuable financial information. Being financially literate is an important part of life. We want students to be truly interested in learning about making good choices with their money that will impact them now and into their future,” Bensley said.

American Document Services will provide free document shredding during the fair to help students, faculty and staff reduce their risk of identity theft. Bring old checkbooks, banking and credit card statements, personal documents to have them shredded on site. The truck shredder can accept paper with staples and paper clips, but not large binder clips or notebooks.

For students who are unable to attend the Financial Literacy Fair, or those who would like to further their financial literacy education, NMSU’s Red to Green Money Management Program offers private appointments and a free, self-paced tool called Financial Avenue. To schedule an appointment, call 575-646-1631, and to access financial literacy resources visit careerservices.nmsu.edu/red-to-green.

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