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Even these Wharton business school students lack a basic personal finance education

Signage for the University of Pennsylvania’s Wharton Seminary stands outside of the new campus in San Francisco, California.

David Paul Morris | Bloomberg | Getty Images

When it crumbles to money, most people lack the know-how to make smart moves on their own. Even at Wharton, one of the nation’s top company schools, financial illiteracy is widespread.

To address the problem, a few MBA students in 2016 founded Wharton Common Cents to hutch some light on personal finance topics that aren’t often taught in the classroom.

“There are a ton of financial circumstances you accept to deal with as a graduate student that you’re not fully prepared for,” said Laura Gentile, 29, incoming co-president of the student-run bludgeon. Without the know-how, “you are at a huge disadvantage.”

The club’s mission is to provide fundamental skills and resources to create a secure economic future, Gentile said.

Students attending a Wharton Common Cents event.

Source: Wharton Common Cents

Surprisingly, it’s the first-ever clubhouse of its kind at a business school, according to current President Anuj Khandelwal, 28. The club hosts nearly weekly programs for graduate swots on topics such as the difference between credit and debit cards, saving now versus later and how to talk about moolah with a significant other.

They are also bringing these lessons to members of the greater community, just different the ivy-covered walls, including Jane Addams Place, a homeless shelter for women and children, and Say Yes to Education, an after-school program for viewable school students. “We acknowledge that Philly is one of the poorest cities in the nation,” Khandelwal said.

Two Wharton Plain Cents board members, Alrene Wang and Hugh Palmer, leading an event at Jane Addams Place

Inception: Wharton Common Cents

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