Harrisburg University Senior Wins Cash Prize In Financial Planning Competition
Jacob Grove learned the basic of balancing a check book in high school, but his financial education had never really gone beyond that, he said.
That changed when the Hanover native entered Harrisburg University of Science and Technology.
“I’ve learned so many things here that I know will help me succeed in life,” Grove said.
While working on a class financial project, Grove had to outline financial goals, some that could be obtained now and others later down the road.
Many of his long term goals included paying off student loans, planning for retirement and buying a home, he said. It was the first time the Nanobiotechnology major had ever considered what he would do when it was time to end his career.
“I learned to aim high but keep realistic expectations,”Grove said.
Before Christmas break, Dr. Jay Liebowitz, the DiSanto Visiting Chair in Applied Business and Finance at Harrisburg University and Grove’s professor, suggest Grove enter his financial plan in the CFA Society of Pittsburgh’s First Collegiate Financial Plan Competition.
Out of more than 120 entries, Grove would place 10th and win a $250 cash prize.
“Personal financial planning can never start too early in a young adult’s life,” Liebowitz said. “At Harrisburg University, we are introducing financial literacy education throughout our student’s curriculum. Jacob is a fine example of our results paying off!”
Grove believes learning about financial literacy in college allowed him to understand the importance of money management, savings and retirement. The tools he learned for paying off student debt will allow him to start tackling his goals immediately, he said.
He also believes he’ll be able to use what he learned in whatever career path he takes. A lot of careers require financial research for grants, business models and other areas, Grove said.
“When you think about saving money and saving for retirement, you imagine that’s something you’ll do when you’re much older,” Grove said. “It’s important that I plan for the future today.”