Southeast Missouri State University student publication

Southeast students familiarize personal finance

Tuesday, May 2, 2017

Wednesday at noon in the University Center, Student Support Services tutorial coordinator Rashaun Henry delivered the presentation “Dollars and Sense.”

“This presentation is going to be about helping you out with different credit — things you need to stay out of and different ways you can retrain your mind as far as how you think about your financials,” Henry said.

This is Henry’s second time giving the presentation, this time he opened up by asking for questions. Students showed the most concern regarding student loan payments and credit scores.

Henry reassured the students in the audience who were anxious about student loan payments.

“You get a six-month grace period after getting your degree,” he said.

He went on to talk about all the misconceptions students have about credit cards and credit scores. Henry described in depth all the positives of credit cards, which often get a bad wrap. Students gasped after learning that utilizing more than 30 percent of a credit line negatively affects credit scores. This was surprising to sophomore Rebecca Hursh.

“I never knew there were that many things that affected your credit score,” Hursh said.

Henry then went further to break down where exactly lenders get individual credit scores. He emphasized 35 percent of a credit score is based upon willingness to pay on time, what lenders call “character.” Using a series of acronyms and real-world examples, Henry showed students the path to financial stability and sustainable spending.

Henry’s big advice on spending is “Retrain your brain and find a way to live on less.” he said.

After the presentation, the audience continued to converse about their credit cards and their future spending plans.

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