The Importance of Financial Literacy: An Interview with UNR’s Jacob Boult

If you can’t take charge of your own finances, what’s to say you can take charge of anything else?

Attending college and earning a degree helps prepare us for the shock of entering the “real world.” And while the lessons and concepts we learn are invaluable, it’s safe to say that many college courses still fail to teach us one key life principal: financial literacy.

Sure, it’s important that STEM majors learn complex science and math and History majors known when the Roman Empire fell. But what’s missing from all of our educations, regardless of study, is an introduction to important life skills like balancing a budget and doing your own taxes.

These are skills that will directly apply to our daily lives, and not knowing them will have devastating impacts on our futures. When it comes to tackling this student financial literacy problem, many clubs on campus are taking strides to make sure their members have the resources they need to succeed.

The interview

I spoke with Jacob Boult, the president and co-founder of the University of Nevada, Reno’s Omicron Delta Kappa (ODK) chapter, and chatted about what his organization is doing to prepare millennials for real-world financial decisions.

“ODK is a national honor society for campus leaders,” said Boult. “Leadership development is critical to the evolution of critical thinking skills, social actions, and community engagement.”

Being financially literate, while first and foremost means you have an understanding of your financial realities, also implies that you possess certain qualities of leadership. If you can balance a budget, save for the future and establish good credit, it demonstrates efficient decision making and restraint. Having financial independence and being a strong leader go hand-in-hand.

To put it another – Jacob’s way – “Adults should be financially literate. We all need a basic understanding of our finances.” Jacob believes that knowing how to handle money is “essential to being a leader.”

If you can’t take charge of your own finances, what’s to say you can take charge of anything else?

ODK is an honor society that partners closely with the community. Jacob ensures that all of his members know that they can be connected to a financial advisor whenever necessary.

“If students need any help with finances, we are able to connect them to a professional within the community.” Jacob believes that through financial literacy ODK members will be able to become greater leaders in their communities.

“Since this club encompasses leaders from across the campus, members can take this information and share it with their club members and campus community.”

To get involved with ODK during the Spring semester, you just need to go through a short application process. Learn more by visiting the ODK national site: http://odk.org/

 

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Posted 03.13.2017 - 02:00 pm EDT