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Financial tips from student investors |
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Tuesday, 12 February 2008 |
 Dr. Delbert C. Goff is a professor of finance, insurance, and banking. Photo by Holt Menzies
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by LINDSAY TIGAR
Lifestyles Editor
At 4 a.m., most students are happily sleeping in their apartments or residence hall rooms.
However, for junior banking and finance, risk and insurance major Matt H. Wilburn, the early morning hours are prime time for checking the comings and goings of the stock market.
Since high school, Wilburn has been self-educating himself about investing and following the stock market.
He currently has no shares in the market, but has a money market account, and encourages student to investigate the several asset options available to them.
“People have a huge bias –they think [investment] is complicated,”
Wilburn said. “Pick what you like, research it, and stick with what you
know.”
 | Boyle
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Chris E. Simmons, a senior finance and banking major and Finance
Student Association treasurer, believes making uninformed decisions
about the stock market can cause unwanted complications.
“If [students] can make a very wise, educated decision about investing,
then they should,” Simmons said. “You don’t want to just jump in
without doing research.”
Youth can play a factor in investing.
“My dad was always involved in investing and financing,” senior finance
and banking, risk and insurance major and FSA secretary Allison E.
Boyle said. “It’s important to invest when you’re young [so stocks and
mutual funds] have more time to grow.”
Appalachian State also has an online resource called “Morning Star”
that has a general overview of investing companies and advice for
students interested.
“Morning Star” can be accessed by going to library.appstate.edu under the database tab.
Other than following the stock market and taking risks with perpetual
high and low stocks, students have several options to help them save
their money.
“Mutual funds are very good for most investors,” finance, banking and insurance professor Delbert C. Goff said.
A money market is where a company pulls together money from a variety
of investors in different industries and makes investment decisions on
the student’s behalf, Goff said.
 | Parrish
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Goff described a mutual fund as a long-term investment, where a student
could let the money sit and wade through the seasons of the stock
market for years.
Most mutual funds require a minimum first-time deposit of $500 to $1,000.
For short-term savings, a money market is also an easy way to build interest with savings.
“Money markets are good ideas because there is no risk,” said Aaron H.
Parrish, senior banking and finance major and FSA vice president.
Simmons recommends students set aside 10 percent of their yearly income
every year they’re in college, so they can potentially come out with
some savings.
“If you don’t learn in college to save and be frugal when you don’t
have a lot of money, then when you get to the point where you do,
you’re always going to live above your means,” Simmons said.
“College is hard time to save any money,” Boyle said. “But it’s good to
have some savings when you come out so you don’t have to go back and
live with mom and dad.”
Overall, there are many ways a student can ensure a clear financial history after college.
“Don’t go into debt unnecessarily, and use credit cards wisely,” Goff
said. “If you have the money to start an investment fund or when you
do, start something periodically and keep in mind your objective.”
The Finance Student Association encourages anyone who is interested in the financial or investing industry to get involved.
Currently, FSA has around 70 members, said Robert R. Sjolander, a finance and banking and economics major and FSA President.
“It’s a great way to be around like-minded individuals and to build networking contacts,” Sjolander said.
 | Simmons
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Sjolander is also part of a highly selective on-campus organization and class called The Bowden Investment Group.
Twelve undergraduate students manage the Bowden Investment Fund,
currently consisting of around $100,000, making investment decisions
and taking chances in the market with real money.
“It’s been the best college experience,” Sjolander said. “I’m the
economist for the group and it has forced me to follow the market daily
and get real world experience.”
Students interested in being part of The Bowden Investment Group should consult the group’s Web site at www.big.appstate.edu.
Goff said having a secure and stable knowledge about personal finance is important for every college student.
“If you don’t have knowledge of personal finances, you need to take a
course and learn the basics,” Goff said. “There are decisions you’ll
make over the next few years that have good or bad long-lasting impacts
on your financial future.”
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financial literacy component and free college college tuition credits that are earned like frequent flyer miles.
Neat way to get involved in the savings process and win prizes.