A few months ago, Daniel Schultz taught the value of a quarter to fourth and fifth graders at J.F. Dulles Elementary School’s Enrichment Day.
“I gave them all a quarter and asked them if they thought it was a lot of money. They all said, ‘No way!’ But then I told them if they saved a quarter a day for a year, they’d have $91.25,” he said. “They all agreed that was a lot of money!”
Schultz, an accountant at the Mount, is passionate about teaching young people money management so they avoid common pitfalls before they become problems.
“I was talking to someone and they said they messed up their credit when they were young,” he said. “I bet 75 percent of all college students could say the same thing.”
So Schultz and Stephen Craig, the Mount’s coordinator of campus activities and leadership, decided to teach a budgeting class. It would be offered on Wednesday evenings once a week for eight weeks so students could learn a variety of finance topics.
“We stared out talking about basic banking, student loans and working our way to other topics,” Schultz said. “One week we had an insurance person talking about how insurance worked. Another week we had Rich Utecht from our Career and Experiential Education Center talk to the students about their salary expectations after they graduated.”
The class was an instant hit.
“Unless students are taught about money by their parents, they likely don’t know about investment and money management,” he said. “I feel I have the capability to share my knowledge about money.”
The budgeting class will be an option for students enrolled in the Mount’s Talent Opportunity Program (TOP) through the career center and Schultz said he has more opportunities to share his advice including his number one tip.
“Invest right away,” he said. “It doesn’t matter how much money you make or how much you invest. The younger you are when you start investing, the better off you’ll be.”
Schultz received his bachelor’s degree from the Mount in 2010 and is currently studying to take his CPA test. He and his wife live in Green Township.