'America's Financial Educator' to speak at LBWCC
July 31, 2019
Parents of young people who need to learn about managing money have an opportunity to attend a free event at LBW Community College.
Peter Bielagus, known as the “go-to guy for young people and their money,” specializes in helping people with limited financial resources put more money in their pocket. He will speak at 6 p.m. in the Conference Center at all four LBWCC locations: Greenville on Aug. 12, Andalusia on Aug. 13, Luverne on Aug. 14, and Opp on Aug. 15.
“This event is funded by LBWCC’s Title III Strengthening Institutions Grant, so it is free to attend and open to the public,” said Renée LeMaire, LBWCC public information officer and director of marketing.
“The timing of this presentation is excellent to help parents better prepare their teens before they head off from home and hopefully prevent unnecessary indebtedness.”
Bielagus said, according to a Credit Card Usage Analysis by Nellie Mae, six percent of college students have more than $7,000 in credit card debt. Graduating students have an average of $20,402 in combined education loan and credit card balances.
The Financial Education Survey done by Capital One found that more than 70 percent of parents say they have spoken with their teens about credit and using credit cards wisely, but only 44 percent of the teens in those families say their parents have talked to them about credit cards. The same survey says 54 percent of parents rate their teenager’s knowledge about managing money as “good” or “excellent,” while 78 percent of those teens rate their knowledge as merely average or even poor.
“So while you may think you know how to communicate to your teenager about finances, this dynamic presentation will help you get the facts you need by someone who speaks from experience.”
Bielagus, who was $5,000 in credit card debt his freshmen year of college, began touring the country 10 years ago trying to prevent college students from making the same mistakes with their finances as he did.
“When I arrived on campus, I signed up for every credit card they threw in front of me. No one ever told me this hurts my credit score. No one ever told me I even had a credit score,” he said.
As one of the few professional speakers committed exclusively to this niche, Bielagus travels to colleges, high schools, boarding and provide schools, universities, military bases, and corporations worldwide introducing individuals to their financial lives.
“Most Americans don’t know what their credit score is,” he said. “This number literally determines how expensive your life will be and will affect your ability to get a job. I try to inform people of the financial information they need to know before they need to know it.”
Parents of teens or young adults preparing to “leave the nest” should make every effort to attend this free presentation. For more information, contact Tori Norris at 334-881-2215.