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News Release

New Jersey Department of
Banking and Insurance


Commissioner Richard J. Badolato

For Immediate Release:
March 2, 2017

For Further Information:
Marshall McKnight (609) 292-5064


The Christie Administration Helps College Students Learn the Importance of Financial Literacy

From left to right, DOBI Commissioner Richard J. Badolato, Bergen Community College (BCC) students Tristan Anderson and Christopher Molina who attended a financial literacy presentation held at the BCC Paramus Campus.

PARAMUS — Department of Banking and Insurance Commissioner Richard J. Badolato and Assistant Commissioner for Life and Health Brendan Peppard today gave a financial literacy presentation to college students at Bergen Community College in Paramus. They explained the benefits of budgeting, saving and smart credit card use to more than one hundred students.

“Be smart about your money,” said Commissioner Badolato. “The financial decisions you make will have an impact on your career, your income, whether you can buy a house and whether you can obtain credit.”

Commissioner Badolato provided advice to students that included spending less each month than earned, developing a savings habit and remembering that using a credit card is a form of borrowing. His advice also covered student loans, auto and renters insurance as well as free apps from the National Association of Insurance Commissioners that can assist them should they need to file an auto or renters insurance claim.

One app assists users in conducting inventories for their renters insurance. Called myHOMEScr.APP.book, this free app helps catalogue and record property to make filing a claim easier in the event of a loss. The other, Wreck Check, helps auto accident victims document a collision or comprehensive claim at the accident scene.

The presentation was part of the Department’s ongoing financial literacy program, which was expanded in 2006 with programs for high school students and expanded in 2012 to include presentations for senior citizens and college students.

Photo caption: From left to right, DOBI Commissioner Richard J. Badolato, Bergen Community College (BCC) students Tristan Anderson and Christopher Molina who attended a financial literacy presentation held at the BCC Paramus Campus.
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