Published on March 8, 2017 | by Anna Akoto Photography by Julia Dela Cruz0
Business council hosts first finance crash course
The Guelph-Humber Business Council (GHBC) is hosting a two-day personal finance crash course.
Katrina Di Raddo, vice-president of communications for the GHBC, said this was the first time the business council hosted an event like this.
“I know some of the student aid and financial services do certain workshops. But the idea of ours is a total crash course so you learn a little bit of a lot,” said Di Raddo.
The first day covered mutual funds, tax-free savings accounts (TFSAs) and registered savings plan (RRSPs).
Armin Monga, a third-year business student said the crash course has been more of a review for him, but learned a couple of new things.
“I knew generally how RRSP’s worked, but I learned more about the specifics,” said Monga.
The crash course guest speaker was Lucio Marcantonio, Di Raddo’s grade 12 business teacher.
Marcantonio teaches grade 12 personal finance at John Cabot Catholic Secondary School in Mississauga.
He wrote a personal finance course that is being taught at four Ontario high schools and was a former TD bank manager.
“Unfortunately because the education system does not have a component to teach students basic financial planning, there’s such a low level of knowledge,” said Marcantonio.
Marcantonio said he was happy with what students at the event knew about personal finance.
“I was happy two-thirds of the class raised their hands when I asked about TFSAs. I was like that’s good,” said Marcantonio.
“Overall, it’s a really good opportunity for students who aren’t usually as exposed to these type of things to learn. They’re lifelong lessons,” said Andrea Bilinsky, a fourth-year business student.
Bilinsky also said, “I didn’t realize what choices I had. I really liked how the presenter explained things and went in-depth.”
Di Raddo said students’ response to the event was better than the business council expected.
Twenty-eight students attended the first day and the GHBC is expecting 40 on day two.
“We found a lot of people who were signing up were not in business. Majority were still in business but I would say 60 per cent business and 40 per cent other programs which is a huge split,” said Di Raddo.
Di Raddo also said she’s glad students from other programs are recognizing the crash course is not just for business students.