KU Business School News

Helping students avoid some personal financial pitfalls is part of the focus of a new course offered by the School of Business. KU freshmen and sophomores have an opportunity to learn how to effectively manage their money through the new Personal Finance course.

The course is designed to prepare students for financial affairs that will likely occur in their lives. Topics include financial planning, the uses of debt and how to save. Additional topics cover banking, insurance and housing issues – both renting and buying.

Professor Doug Houston, director of finance, economics and decision sciences at the School of Business, said "This class is essentially a finance toolkit to keep students on the right track throughout their lives. It’s very pragmatic."

Students in the class maintain a monthly diary to assess their spending habits and develop a budget based on their spending behaviors. They also begin planning for retirement by studying various forms of investments.

Houston said the idea of the course came from parents of KU students. Parents wanted their children to learn healthy financial behaviors. The School of Business developed a course to meet those needs.