Finance
Congratulations, graduates. Now it's time to come up with a financial plan.
Congratulations to recent college graduates. Many graduates have already landed a job. Others may still be looking for an offer or waiting until summer’s end before job hunting. Whatever path you’re on, once you’re earning an income it’s critical to establish a solid financial foundation.
That’s always been true. But the changing nature of work — likely defined by multiple jobs and fluid careers — increases the need for embracing sound personal finance.
Three quick points. First, you’ll make mistakes with money. Everyone does. That’s how we learn. Second, keep your money management simple. Life is busy enough without falling into financial complexity. Finally, doing well with money isn’t rocket science. Good money management mostly involves developing a few good spending and savings habits. Here are several suggestions:
Concentrate on your career. Your most important financial investment is in your career(s). The big return on investment comes from the income you earn from your knowledge. Plan on continuously investing in your skills.
Create a budget. A budget lets you know where your money is going, and where you might want to make some adjustments. The information is vital.
Start saving with your first paycheck. This is true even if it’s a miniscule amount (which is likely). Put your savings on autopilot and adjust the sum upward when your pay increases. Savings is both your emergency fund and your opportunity fund.
Embrace frugality. There is a wide range of frugal behaviors, and you should find the thrifty habits that work for you. The frugal path means being cautious with debt. Frugality leads to greater freedom of choice. (Most college graduates owe on their student loans; research your repayment options and pick the best choice for your circumstances.)
Start the habit of giving money away. The thoughtfulness that comes from deciding where to give money creates strong connections to our community. The act of giving is a powerful reminder of what matters.
Invest in your financial education. There is no shortage of good resources, ranging from your employer to community organizations that promote financial literacy. Looking over my bookshelves, I’d highlight “Get a Financial Life: Personal Finance in Your Twenties and Thirties” by Beth Kobliner.
That’s enough to get started. Good luck on the next stage of life!
Chris Farrell is senior economics contributor, “Marketplace”; commentator, Minnesota Public Radio.
Finance
Low-income Chinese girl aces gaokao, inspires live-streamers offering help
A girl from a disadvantaged rural family in central China topped this year’s gaokao, attracting numerous live-streamers eager to finance her education, which she declined.
The home of 18-year-old secondary school graduate Han Yaping in a Henan province village was recently bustling with live-streamers.
This attention came after Han achieved an impressive score of 699 out of 750 in the gaokao, China’s national college entrance exam.
She has received offers from China’s two leading universities, Tsinghua University and Peking University.
Han’s accomplishment is particularly remarkable given her family’s impoverished circumstances.
Her mother suffers from ankylosing spondylitis, an inflammatory arthritis affecting the spine, preventing her from working. Her father, who earns a living through farming and odd jobs, serves as the family’s sole provider. Han also has a younger sister.
Finance
UK financial regulator publishes landmark AI review
The UK’s Financial Conduct Authority (FCA) published a landmark review on Monday that proposes recommendations to regulate the impact of artificial intelligence (AI) on the financial decisions made by consumers.
The review, titled the Mills Review, anticipates that both consumers and firms will start delegating “more financial decision-making to AI systems,” including for agreements, initiating transactions, and executing decisions “within agreed parameters.” One of the key findings of the review outlined that while AI can help bridge advice gaps and “support growth,” there remain risks “associated with fraud, cyber security, and consumer harm.” Conducting the review, Sheldon Mills highlighted that “AI can also amplify risks: bias, discrimination, exclusion, opaque decision-making (particularly when multiple AI models interact), misleading or hallucinatory advice and erosion of consumer trust.”
The review stated that presently, one in five adults in the UK are “already open to AI making decisions for them,” particularly when decisions feel “complex or high stakes.” It found that roughly 26 percent of the population “trust general-purpose tools such as ChatGPT, Claude or Gemini for financial advice” with little awareness that such platforms provide no “formal routes to recourse” or protections.
Overall, the Mills Review identified four areas that it anticipates will be impacted by AI in the financial sector: “the transformation of firms,” “new consumer journeys,” “a reshaped competition landscape,” and “amplified financial crime and cyber risk.” The FCA projected the shift in how consumers and firms consult AI to take place by 2030.
The Mills Review put forth seven “priority” recommendations to be considered by the FCA Board. It recommended that any transitions to autonomous AI models be monitored and that regulatory frameworks and perimeters be adapted and secured. The review called for the strengthening of “system-wide coordination and oversight,” the scaling up of the FCA’s AI Lab to enable it to support AI models and innovation for agentic finance, and an “AI-enabled agentic supervisory model” to be built and adopted. Finally, it recommended that a trusted “public-interest AI-enabled financial capability service” be developed.
The FCA announced, in the press release, that it will launch an AI “good and poor practice publication” in late 2026.
Finance
Fayette County Public Schools Board of Education approves audit contract, new finance director position
LEXINGTON, Ky. (WKYT) – The Fayette County Public Schools Board of Education approved a one-year audit contract capped at $131,750 plus $225 per hour during a virtual meeting Monday, along with a new finance director job description.
The contract is with Mauldin & Jenkins Certified Public Accountants, an Atlanta-based firm, and covers the 2025-26 fiscal year and the restatement of the 2024-25 fiscal year and ancillary services through FY 2029-2030. The work is set to be completed by Nov. 15.
The board approved the contract in a 5-0 vote.
Audit contract details
Interim Chief Financial Officer Kyna Koch said the cost is already accounted for in the district’s budget.
“And is actually less than we expected given our current situation — we were thrilled with the bid,” Koch said.
Koch said she believes this is Mauldin & Jenkins’ first school district audit in Kentucky, but that the firm works with school districts of more than 100,000 students throughout the Southeast.
“Quite frankly when I spoke to the folks at KDE they were thrilled because we’re running kind of short of auditors who want to do school district audits — so all around I think this was a win-win for everyone,” Koch said.
New finance director position
The board also approved a new job description for the position of Director of Finance. Acting Superintendent Dr. Bill Bradford said the title will replace two associate director positions.
“Which will not only save the school district money but it’s also going to streamline our work and align internal controls to make room for a more efficient unit,” Bradford said.
Koch said the position will be posted as soon as possible following the board’s approval.
Closed session
The board went into closed session for more than an hour to discuss pending investigations that could lead to employee discipline. When the board returned, it took no action and adjourned the meeting.
Copyright 2026 WKYT. All rights reserved.
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