Students looking to learn a little sense about how to save and invest their cash can attend a free seminar tomorrow that will teach them how to do just that.

The Money Camp, a nonprofit financial education institute, is hosting the free money management seminar from 1 to 4 p.m. at the Santa Barbara County Board of Education Auditorium on Saturday. Elisabeth Donati, executive director of The Money Camp, said the event is a nonprofit function designed to teach kids and adults how to save and spend their money responsibly.

Donati said she and her fellow organizers started the program because they felt parents do not teach their children responsible financial habits and, as a result, many young adults – college students included – often do not know how to manage money well.

“The program was started about four or five years ago when we realized that no one really knows how to manage their own money, how to invest, how to save, what passive income is, all these essential things,” Donati said.

Donati said she thinks UCSB students should attend the seminar because it will help them develop money management strategies, including how to handle and repay student loans.

The seminar is designed to appeal to anyone who is older than 10, Donati said. She said it is important for people to learn about money management, even though financial issues are often a difficult topic for parents to talk to their children about.

“In this country, especially, parents seem more reluctant to talk with their kids about money than sex – it’s like a new taboo,” she said.

Fernando Nava, an undeclared freshman, said he plans to attend the seminar because he feels like he does not know how to control the amount of money he is spending while at UCSB.

“I’m excited about learning how to handle my money, with all the student loans and money I’m spending in college,” Nava said. “I’m going to have to find some ways to save money.”

Donati said she thinks that most people spend a good deal more money than they make, so it is important for people to understand how to balance the amount of money they spend with the amount of money they earn.

“The average person spends $1.10 for every dollar they make,” Donati said. “It’s easy to get into debt and always hard to get out.”

The Money Camp will offer another free seminar on Feb. 25 from 1 to 4 p.m. in downtown Santa Barbara, she said.

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