This article was co-authored by editors Kelvin Yamada and Lucy Dajani.
A “normal” first year followed by two years of pandemic dead zone. Next spring, most graduates enter the job market. The Applied Personal Finance course can help with the challenges of negotiating salary, paying off student loans, budgeting for an apartment, and establishing savings habits for a more secure future.
The College of Innovation and Design piloted a course in the fall of 2016 for students interested in learning more about financial wellness. Whitney Hansen, assistant professor at the College of Innovation and Design, successfully met the Boise State Curriculum Committee’s strict class requirements to officially add the new course in 2017.
Hansen received a bachelor’s degree in accounting and a master’s degree in business administration from Boise State University. She coaches personal finance for individuals and hosts The Money Nerds podcast.
“A lot of student-athletes take the course, and I have a lot of senior athletes,” Hansen said. “This is where life gets real, isn’t it?” I have student loans, I have to figure out how to negotiate my salary, it’s all a bit more front and center.
Elise Ledesma | The referee
Hansen said she thinks student athletes in particular take her course because she has a good relationship with the athletic department. She credits the athletic department for wanting student athletes to receive proper financial education. Previous students have enjoyed the course, and through word of mouth, student-athletes continue to enroll in the course.
“Yeah, I think this course is definitely worth taking,” said junior communications major Holly Stewart, who competes on the Boise State tennis team. “This is the first time many athletes have received money, and it would help to get information on how to save, spend or use your money wisely while away from home. ”
According Forbes magazine, seniors graduating in 2019 had an average debt of $29,000, with 92% being federal grants. Hansen herself finished school $30,000 in debt. She got two jobs, made a budget plan and paid off her debts in 10 months.
Hansen’s class teaches about budgeting, saving, insurance, taxes, and investing. A popular class topic is setting up a side hustle for extra income and how to travel economically. She said the research project consistently receives positive feedback. Each student chooses a topic of personal interest to research and explore. Student topics included how to return shoes on eBay, how to start a landscaping business, and how to talk money with your partner.
“It’s a wide variety of topics…It’s also a really fun part of the class,” Hansen said.
Hansen credited Venture College at the College of Innovation and Design for helping her start her own business as a personal finance coach.
“Whitney is amazing,” said Cara Van Sant, Acting Associate Director of Venture College. “She is one of those unicorns who have been successful and done an amazing job.”
Two comments Hansen receives each semester during course evaluations are: “they wish they had taken this course, they wish it was a requirement, and they wish they had taken personal finance sooner,” she said. ” It is a problem. It really is. I will do anything to get the class in front of more students. That would be great!”
Follow Hansen on Twitter @whitneyhansenco.