The Wealthy Grad event was held Wednesday at 5 p.m. in the Student Union.
It began with an informative presentation about financing; attendees were taught the five rules of money, the five words of money and the three cash flow patterns.
The information was presented in basic, comprehensible terms to ensure that everyone could follow along.
The five rules of money are:
* Give (5 percent of your money)
* Learn (5 percent of your money)
* Save (10 percent of your money)
* Invest (10 percent of your money)
* Spend (70 percent of your money)
The five words of money are:
* Income (earned money)
* Expense (spent money)
* Asset (brings money into your pockets)
* Liability (takes money out of your pockets)
* Cash flow (money transfers)
The three cash flow patterns are:
* Poor: income goes to expenses
* Middle Class: income goes to liabilities goes to expenses
* Rich: income goes to assets
The mission of the presentation was to educate students on how to best handle their finances. They were taught that it is not about how much money you make but how much money you keep.
It was noted that financial struggles are the number one reason students drop out of college. The average college student graduates with upwards of $37,000 in debt.
Attendees were encouraged to download the mint.com app to help them better keep track their finances.
Tiffany Smith from the Wright-Patt Credit Union, the official financial institution for Wright State, was present to help students by answering any financial questions they might have.
Prizes were given away and, after the presentation, the board game Cashflow 101 was played. It can also be played online.
There is an app one can download for free on their mobile device that will calculate all of their finances for them while playing the game.
Cashflow 101 was designed by Robert Kiyosaki to help players comprehend basic financial and accounting principles. It is realistic and educational.
Kiyosaki is the author of ‘Rich Dad Poor Dad’, a self-help book on financing. It goes hand in hand with the game.
“I wish it was more well attended,” said Reilly Corbett, Wright State student who attended the event. “The presenter was great!”
“He kept us engaged and made sure we knew stuff long term,” Corbett explained.
