AACC’s vice president for learning told students Wednesday to spend less than they earn and to pay themselves first.

In a presentation about accounting, Dr. Michael Gavin advised students to start saving for retirement now.

“You guys have the biggest advantage: time,” Gavin said.

Business professor Reb Beatty, who also spoke at Accounting Night, told students to be realistic and conservative when budgeting.

For example, he said, if someone is spending $500 a week at a bar, it is not realistic to budget only $25 a week for buying drinks. “You are just setting yourself up for failure,” Beatty said.

In its fourth year, Accounting Night is a financial literacy presentation that offers students information about budgeting tools and investment options and strategies, according to Academic Chair for Business Administration Lawrie Gardner.

Gardner said in the spring, AACC will offer three financial literacy presentations. Maryland Cash, a nonprofit organization in Baltimore, will fund the program.

“They are all about financial literacy and helping people about financially literate,” Gardner said.

Gavin said it is important for college students to learn financial literacy.

“Financial literacy is not taught in school anymore so we use this as an opportunity to teach, help manage their debt, to help them keep their debt down, how to invest and all other types of topics people do need help with,” Gavin said.

Third-year business administration student, Tyshaw Weems, said she enjoyed the event.

“I learned a lot of helpful information that will help in the future, well now,” Weems said.

Seventh-year hospitality student Marshall Campbell, attended the event.

“I want to know more about how all this ties into going about my major,” Campbell said.

“When it comes to budgeting, you start small, you plan ahead, you get a game plan and then you put it all together.”