The interactive hour was led by Keith Woodward '88, MBA '92, associate vice president for facilities operations.

Woodward said taking personal responsibility is the key to establishing a secure plan for managing finances as an adult.

“It’s your life, your choices, your ability to make decisions. If you do some planning and understand some general concepts, you can do as well as anybody else,” said Woodward.

University Events Coordinator Kirsten Webb said over 30 students signed up for the Feb. 18 workshop at the Rocky Top Student Center on the York Hill Campus. Quinnipiac’s ongoing #Adulting Workshop series is designed to provide undergraduate and graduate students with important skills and knowledge that will assist them as independent adults.

“It’s being ready for the moment,” said Woodward. “When someone gets their first job, however much money they get paid, do they prioritize what’s really important? If no one ever tells you, you don’t know. When it comes to your finances, you’re going to have a limited number of resources, and how you control that is important.”

Occupational therapy major Annalise Fabricatore ’25 said she came to learn more about taking charge of her personal finances as she prepares to enter the professional world.

“I already do some of the basics, but I want to learn more about managing my finances and things like investing in stocks,” said Fabricatore.

Bobcat men’s basketball player and business major Spence Wewe ’28 said he came to the course to learn more about managing his personal finances as an independent adult.

“I’m here to learn about finance and how to manage your money. As you grow up, you’re going to have more money to manage and it becomes important,” said Wewe.

Wewe’s teammate, Paul Otieno ‘24, MBA ’25, said he attended the workshop to learn more about best practices for managing a professional salary.

“I already know a thing or two about finance, but as I go professional, I want to know how to spend my money,” said Otieno.

Woodward equipped participants with practical and effective foundational knowledge to better manage their money, save more of it, and achieve financial goals.

“When your financial life is good and you have it under control, you can focus on other things. But if you can’t pay rent, or your mortgage, or your car payment, you’re uneasy. It’s important to have that sense of confidence about your financial life,” said Woodward.

Part of that confidence involves understanding what portion of a paycheck remains after deductions such as federal and state taxes, health and life insurance, and other obligations, such as retirement savings investments.

Woodward recommended drawing up a monthly budget to keep tabs on revenue, living expenses, taxes, and savings. He also advised building up an emergency fund as well as carving out a bit of that hard-earned pay to enjoy a reasonable level of quality of life.

The workshop also touched on making investments, the role of a fiduciary, the importance of diversifying a financial portfolio, and the rewards of passive income such as dividends, which Woodward advised to reinvest.

“Let your money work for you,” said Woodward.

He also encouraged them to recognize the long-term benefits of contributing to retirement savings accounts, and to seize the opportunity if an employer offers a percentage match.

“If you have an opportunity where somebody’s going to pay you additionally to what your salary is, you should take advantage of it,” Woodward said. “You may think you’re just living in the moment, but if you start to save your money today and it just grows over time, it’s joyful. But it’s up to you to make that commitment. Embrace the long-term mindset. If you can do that at this age, you’re going to be a financial rockstar.”

The road to personal finance success also involves surrounding yourself with certain people, from a trusted friend who understands your financial goals or can act as a sounding board, to a life partner who shares the same financial mindset as your own, to hiring trustworthy professionals to work for you.

From becoming familiar with spreadsheet programs such as Excel to listening to financial guidance podcasts or taking in talks on YouTube, Woodward advised everyone to continue to learn more on their own.

“It’s as if you’re the chef and CEO of your own company, and these are all the ingredients you’re going to put together to figure out how you want to live. You need to learn how to do this, and it’s not always that simple. Sit down, look at it, practice,” Woodward said.

The next #Adulting Workshop, Building a Positive Digital Footprint, will be held March 27 from 5 to 6 p.m. at the Rocky Top Student Center. Advance registration is required. For more information email Kirsten.Webb@quinnipiac.edu