Professor At D’Amore-McKim Shares Personal Finance Tips
New Year’s is the time of year when many people reevaluate their financial decision-making processes. Coleen Pantalone, a personal finance planning expert and associate professor of finance at Northeastern University’s D’Amore McKim School of Business, has published a list of tips for those who aim to add a little fiscal responsibility to their lives in 2014. The tips include general advice, and advice specific to students considering Northeastern University for business school.
Pantalone begins her list of advice with general tips. She says that people should buy lattes and other indulgences less frequently to avoid losing money through “nickel and dime” purchases. If you usually buy a coffee once a day, try buying a coffee once a week, and putting the money you save toward rent, credit card bills, or savings accounts. Pantalone also advises impulse shoppers to leave their credit cards at home, avoid opening store credit cards, and consolidate credit card debt in cards with low interest rates. She also encourages people to get an annual copy of their credit card report from rating agencies and scan the report for fraudulent charges.
At the end of the article, Pantalone encourages individuals to educate themselves about money management. She observes that there are several books, cheap classes, and free resources about personal finance available. For prospective and current students at the D’Amore McKim School of Business, Pantalone recommends Northeastern’s personal finance course. The personal finance course is taught by Eliot Sherman, a finance and insurance lecturer. To learn more about money management, you can also check out Pantalone’s original article at the Northeastern University website.
