More money, more problems

Pujan Dahal

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“People spend money they haven’t earned to buy things they don’t want to impress people they don’t like.”

Stephen Dieck used this quote to refer to college students who don’t plan their budget properly and get caught in the trap of credit card companies during his presentation at last week’s Business Symposium.

Beta Alpha Psi members and junior accounting majors John Barnette and Dieck presented “Managing Personal Financial Decisions for Success” Thursday as a way to provide students with tips to manage their budget and handle credit cards smoothly.

Barnette and Dieck took turns explaining the mechanism of credit cards and how to budget finances.

Barnette said credit cards give ‘flexibility’ to students.

“It allows you to do purchases and do the things that you wouldn’t otherwise be able to do. Plus it allows you to track your expenses on the basis of the report you get every week,” Barnette said.

Barnette said the common mistakes students make in handing the credit card is not making payments on time.

“They have the money to make the payment, but they don’t make the payment when they are supposed to,” Barnette said.

Barnette said  the event was aimed to be informative, and the audience collaborated well.

Christina Puckett, a junior risk management and insurance major, said she is “a bad spender”’, and she does not have a credit card.

“I am interested in getting a credit card, but I am not sure if I can’t pay the bills as I don’t have a study job,” Puckett said.

Puckett said she learned the “do’s and the don’ts” of having a credit card in the event.

Dieck said a budget can be planned well by knowing the difference between a want and need.

Dieck said that the event was aimed to be informative.