Today was the fourth day of Minnesota Business Venture (MBV) at St. John’s University! Students filed into the auditorium from their company meetings, where Josiah Kennealy of Normandale Chi Alpha spoke to students about money and values. Kennealy graduated from college completely debt-free, and he encouraged students to find a way to do the same. “Student loans are a massive problem,” he shared. Kennealy has written a book called Debtless with tips and tricks students can follow to avoid taking out large loans to pay for college. He also advised students to reflect on their values, to think about whether they are spending their time and money wisely. “Check your bank account, your calendar, and your social media account to find out what you truly value,” Kennealy suggested.
After that, students split up to attend financial literacy sessions. Some students learned all about car insurance, while others learned about how to rent an apartment. From budgeting, to credit, to paying for college, these sessions taught students how to be smart with money, as well as skills they will need as independent adults. We loved seeing the students engaged in the sessions, taking notes and asking the speakers questions.
Following lunch, students met with their companies to continue work on their business plans. The operations, marketing, and finance teams finished up their posters and spreadsheets, and now they are creating their presentations. The students elected a COO, CMO, and CFO to help lead within their companies. It was exciting to see the students working as a team and making progress on the business plans.
Later, students went to a session called ‘Paying For My Lifestyle’, learning about investments, savings, and credit. They also attended a session called ‘Philanthropy, Pay It Forward’, where the speakers taught students about the importance of giving back to the community. These sessions gave students the opportunity to learn necessary financial skills that they will need later in life.
We had another amazing day at camp today! Students would agree that learning more about finances was both beneficial and interesting. Tonight, companies are wrapping up their business plans and practicing their presentations. We can’t wait to hear about the companies’ products tomorrow!