College of Business
News & Research
Minutes with meaning
What are mortgage points? What is the real meaning of that magical number called the Dow?
Financial terms are tossed around every day, but often their real meanings are poorly understood. This can have serious implications for the financial decisions all of us have to make at times.
Dr. Norman Godwin, a professor in the School of Accountancy and associate dean of student affairs in the College of Business, observed that explanations of financial matters tended to be overly detailed and too quick to take a technical turn that made understanding them difficult. He also observed the effectiveness with which basic points could be made in brief video presentations on subjects such as gardening and home maintenance.
That led to Godwin’s Enrich Your Life videos, a series of one-minute spots on fundamental financial issues, all done in friendly, positive tones. Too often, Godwin said, financial commentary sounds like reprimands for mistakes, rather than straightforward explanations.
The idea, he said, is not to try to answer all the questions, but to help people ask the right questions.
The videos, with their sometimes whimsical analogies, have made their way into use by a leading national retailer and were aired by ABC affiliate WTVM in Columbus, Ga.