News

Students learn how to ‘finish rich’

The Smart Women Finish Rich seminar, based on the best-selling book by David Brach, aimed to steer women at UM towards a path of living rich in America Wednesday. The seminar was hosted by Melissa Seifer and Heather Berry of Morgan Stanley and was held in Founder’s Hall.
“How are we supposed to be smart about money if we’re not taught?” Heather Berry asked the question which many women (and men) confront daily.
By touching on such issues as the stock market, 401K plans, IRAs, and taxes, the seminar helped women understand the tools they need to make it big in business.
According to Seifer and Berry, women today own 9.2 million businesses, 24 times more than they did 25 years ago.
In one year alone, women earn $1 trillion.
“The most important thing is for women to take control of their finances,” Seifer said. “We all have dreams, and we need to fund them.”
The concept of “Finishing Rich” comprises of a seven-step process that includes using the power of “The Latte Factor.” Something as simple as cutting back on the expenses of a daily latte at Starbucks, a candy bar and a protein shake in the afternoon can add up to an annual savings of almost $2,500.
As for the other expenses – the super-cute Coach bag or the “perfect pair” of high heels at the mall – Berry proposed an alternative.
“Give yourself a waiting period on impulse purchases,” Berry said. “If you see a purse you have to have, walk away, come back two days later and see if you still want it.”
“Not only does waiting save money, but it helps to prioritize,” Berry said.
When asked why money is important to them, most women answered that it provided them with a sense security and independence.
The seminar taught that living rich, does not mean living expensively. It means making sure that financial expenses contribute to personal values and personal happiness.
For more information on Smart Women Finish Rich visit www.finishrich.com.

Natalia Maldonado can be contacted at n.maldonado@umiami.edu.

October 28, 2003

Reporters

The Miami Hurricane

Student newspaper at the University of Miami


Around the Web
  • Miami Herald
  • UM News
  • HurricaneSports

Throughout the four years he spent as a tackle for the Miami Hurricanes, Tyree St. Louis never consi ...

Finally, a marquee home game for the University of Miami men’s basketball team, a game big enough th ...

University of Miami basketball coach Jim Larranaga, awaiting word from the NCAA on the appeal to rei ...

The Hurricanes officially welcomed ballyhooed new quarterback Tate Martell on campus Friday, and he’ ...

Before Jess Simpson’s final playoff run as the coach of Buford fell short in a Georgia state champio ...

The University of Miami brings together leaders in academia, professional practice, and industry to ...

On Dec. 14, 2018 universal health care programs in both the United States and Mexico were dealt sign ...

For the first time in more than 15 years, two of UMTV’s weekly shows were nominated for the Televisi ...

Miami Transplant Institute performed 681 transplants during 2018, setting a new national record in k ...

Jazz aficionados launch new video series by sharing invaluable performance techniques. ...

The University of Miami women's swimming and diving team finished off a clean sweep of in-state ...

"We're excited to welcome these coaches to the Miami family," Diaz said. ...

The No. 17 Miami women's tennis team recorded its second win of the day Saturday evening at the ...

Chris Lykes scored 20 points, but the Canes come up just short against No. 13 UNC. ...

In the first of its two matches Saturday at the FGCU Tennis Complex, the No. 17 Miami women's t ...

TMH Twitter
About TMH

The Miami Hurricane is the student newspaper of the University of Miami in Coral Gables, Fla. The newspaper is edited and produced by undergraduate students at UM and is published weekly in print on Tuesdays during the regular academic year.