When courses moved on-line because of COVID-19, Wharton senior Pleasure Cai discovered herself with additional time on her fingers, prompting her to create a collection of crash course movies that train priceless classes about private finance.
Cai’s Penn Cash Administration movies intention to teach members of the Class of 2021, who might want to know the way to handle their very own cash as soon as they graduate in Might. The movies are all lower than 5 minutes lengthy and canopy matters starting from taxes and bank cards, to loans and insurance coverage. Cai launched her first video on Feb. 1, and plans to ship out a video each Monday at 7 a.m. EST. Over 180 college students have already signed up for her free program.
Cai determined to start this system throughout winter break after speaking to fellow seniors and up to date Penn graduates, all of whom expressed their curiosity in growing their monetary literacy. A 2019 report from AIG Retirement Companies titled “Money Matters on Campus” discovered that solely 53% of respondents felt ready when it got here to managing cash.
Resulting from her previous expertise working for Penn’s student-run credit union, her signed provide to work full-time at an asset administration agency after commencement, and her information of cash administration from watching on-line movies, Cai noticed an ideal alternative to streamline her information and share it along with her classmates.
Whereas she had initially meant to focus on solely the graduating class, Cai stated she acquired overwhelming curiosity from non-seniors and determined to make her movies accessible to any Penn college students. Cai has additionally given Monetary Wellness @ Penn, a program by Pupil Registration and Monetary Companies, entry to her movies, which she hopes will enable the movies for use for years to return.
Wharton senior Anannya Shandilya, who’s signed up for Cai’s program, stated that a lot of her courses at Penn have ready her for becoming a member of the workforce, however she has acquired little steering relating to the way to handle her funds. To this point, she stated she has loved Cai’s movies, which simplify tough matters whereas additionally being very participating.
“Particularly given the Zoom fatigue that we’re having nowadays with all these lectures, I felt that [Cai’s] movies actually stood out in holding the viewers’s retention,” Shandilya stated.
Engineering senior Vraj Shroff stated that Cai’s movies present broad introductions to completely different private finance ideas, and are an excellent entry level for folks with none prior expertise.
“In case you don’t know the way to quick a inventory, that is not one thing that you’d encounter in your Fb feed or your Google search if you happen to’re not particularly on the lookout for that,” Shroff stated. “She’s giving broad publicity to all these various things that individuals would possibly discover fascinating, and doubtless one thing they wish to know by the point they graduate.”
Cai stated that the expertise of creating movies has additionally been useful in increasing her personal information of non-public finance. Whereas she believes monetary schooling is a life-long journey, Cai hopes her movies will present viewers with an introduction into necessary ideas that function a basis for monetary literacy.
“I simply hope that [students] might be extra ready and be prepared sooner or later, monetary literacy-wise,” Cai stated. “There’s simply so many infinite issues you may be taught from private finance, and also you’ll by no means be capable to be taught every thing, however I’m simply hoping to offer the very primary minimal and to lift [students’] consciousness of every subject I speak about.”