Monday, February 12, 2007

The Cavalier Daily

The Cavalier Daily: "Setting the record straight on giving

Karin B. Bonding, Guest Viewpoint

LAST WEDNESDAY a letter tothe editor appeared under MarkHopke's name entitled 'A High Price to Pay.'It quoted a principle of personal finance taught in COMM 273, which I have the privilege of teaching: Pay Yourself First.While this principle was correctly quoted, its use was misinterpreted.Pay Yourself First means setting priorities in your life with your financial assets.For some this means setting up emergency funds or paying off credit cards but for many people a first priority is that of 'giving back'.

In a nation of immense wealth, it is fortunate that for many Americans, charitable giving is considered a moral responsibility. That moral responsibility can be applied here at our University, where the four years of education provided are only partially covered by tuition. The vast majority of each individual's education is paid for by donors -- as mentioned in a subsuqent letter to the editor -- to the tune of 79 percent.These donors have made charitable giving to their beloved university a priority. Students of Comm 273 should be particularly grateful to such individuals, as the course itself is endowed by exactly such a person, Mr. Robert Hardaway (McIntire '49). Mr. Hardaway, through his philanthropic spirit, has insured the existence of a course in which those outside of the Comm School can be given the opportunity to learn about personal finance."

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