With mounting bills for tuition, books, meals and rent, many college students experience low levels of money in their bank accounts.
Students making up the Millenial Marketing group will be in the Brickyard today from 11:30 a.m. to 1:30 p.m. to present “Brickyard Investing.”
The group wants to educate about investing and make the student population aware of the importance of early investments, according to Morgan Stanley, a senior in business management and multidisciplinary studies and agency coordinator of the project.
The group has been working on this project for American Century Investments, an investment company headquartered in Missouri, which helps individuals invest their money into varying options like mutual funds, IRAs, stocks, or bonds, according to Stanley.
“[ACI] really wanted to find ways to connect with people our age,” Stanley said.
In December, ACI will be evaluating the work done by Millenial Marketing. The group plans on presenting the company with a final report of what “we found, what worked, and what did not work” in reaching out to students, according to Stanley.
Claudia Kimbrough, professor of the business class through which the project is assigned, said the lesson the students are learning extends beyond the classroom.
“The real interesting thing about this project is how real it is,” Kimbrough said.
Students have learned the difficulties of working with a financial company and having to get every aspect of the project approved by the company’s lawyers. From the plans of the events to the colors of the coozies, all of the project’s details had to be pre-approved, according to Kimbrough.
Kimbrough also said N.C. State students benefit from the project.
“It gives [NCSU] exposure in the business world,” she said. “It raises awareness of NCSU with a company in the midwest that we wouldn’t have otherwise been exposed to.”
Some students have seen the benefit of the project’s main goal of investing early.
Andrew Slatter, a sophomore in marketing, said he has invested in certificates of deposits, which are similar to a savings bond except they last for one year.
Even though he has already begun to find ways of investing, Slatter said he wants to know more about what he can do with his small amount of money.
Other students have also experienced early investments.
Nick Macek, a freshman in communication, said he had a 401(k) set up through his paycheck at his latest job. He said he did not understand the benefits of the program at his age.
“It’s just so easy to spend money,” Macek said. “I do spend a lot.”
Slatter said companies have a mindset of college kids being poor and “not responsible with money.”
Millenial Marketing’s slogan, “Investments one on one: a pre-req for success,” targets the idea of each student being able to benefit from early investments, according to Mike Escobar, a senior in business management and public relations coordinator of the project.
Escobar said he the project has been interesting for the class in creating the marketing campaign.
“We have had to reach out to our peers and student body — the people we sit next to in class,” Escobar said.
In the Brickyard, the group said they will have brochures for students to promote education on different investment options and ACI. Also, food, coozies and a $150 mall gift certificate will be given away for students who complete an information sheet, according to Stanley.
“We know we are not financial advisers,” Stanley said. “We just want to create an environment where people think ahead and down the road, especially for when you start working.”