January 4, 2016

The Four Tenets of Money

SMITH BRAIN TRUST — As a 28-year-old widow, the grandmother of Billy Greenblatt ’79 started riding in the back of a mail truck to her New York City post office job to save the subway fare and better provide for her children. Later on, she kept a “charity box” in her home, Greenblatt told graduates during the 2015 winter commencement at the University of Maryland’s Robert H. Smith School of Business.

“She would tell us to put change in the box, and every time we would go there, the box was empty because she gave the money to charity,” the commencement keynote speaker said Dec. 20, 2015, at the Xfinity Center on campus. “She instilled a value system about working hard and helping others.”

Greenblatt, the founder and chairman of background screening company Sterling Infosystems and a member of Smith’s Board of Advisors, addressed the school’s 790 newest alumni, including 288 undergraduates, 135 MBAs, and 267 Master of Science and Master of Finance recipients. His grandmother’s story illustrated four tenets of money.

1. Earning: “Working hard — maniacally hard in many cases — is cathartic,” Greenblatt said. “It makes you a better person. … Measure everything you do in life. Think about what you want to accomplish in your career and reforecast it every five years.”

2. Saving: “Be old school,” Greenblatt said. “Be a disciplined saver. Respect the value of money. Always have a budget. … Every time you’re tempted to buy on impulse, save that money — go home, write a check and deposit it.”

3. Negotiating: Don’t pay full price when you shop, Greenblatt said. “Have them put it away and ship it to you when the sale starts,” he said. “Don’t be uncomfortable or intimidated (about negotiating). … Be meticulous about paying bills, and take advantage of fast-payment discounts.” He said sharp negotiators arm themselves with knowledge, so they should never stop reading. “There are so many (success stories to draw from),” he said. “Educate yourself (about every finance concept). … You have a responsibility to your families and future generations to understand these concepts.”

4. Disposing: “There has to be philanthropy in all of us,” he said. “With success comes an obligation to help. Government can no longer fulfill the needs of society. … You are graduating from one of the finest universities in the world. … You are prepared.” See the full speech, starting at 46:10.

GET SMITH BRAIN TRUST DELIVERED
TO YOUR INBOX EVERY WEEK

SUBSCRIBE NOW

  • Tags

Media Contact

Greg Muraski
Media Relations Manager
301-405-5283  
301-892-0973 Mobile
gmuraski@umd.edu 

About the University of Maryland's Robert H. Smith School of Business

The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

Back to Top