 "Photo: Gabriel Atkins/Echo staff photographer")
 "Photo: Gabriel Atkins/Echo staff photographer")
Most people can obtain respect — but money and power are different animals.
"Wealth and power are created by owning things," said Dr. Boyce Watkins, who spoke to students and faculty Tuesday as part of the University's Lyceum program.
Watkins, a finance professor at Syracuse University, has been a guest on "The Wendy Williams Experience," and has discussed finance and business on CNN, NBC, CBS, and Fox Business.
He also leads the Your Black World Coalition, a citizens' group concerned with issues facing African Americans.
Throughout his speech Watkins emphasized the importance of money. "Money is powerful like a gun, drugs, or fire," he said.
The Louisville, Ky. native said money can be used to help people or to destroy.
He told students that money is capital and capital should work for you. "Find a way to be economically independent," said Watkins."You'll never get there thinking like a dumb rapper."
Watkins emphasized that frivolous spending keeps people trapped in their current state of financial difficulty. "I think breaking down finances like that is more relatable," said Artemesia Stanberry, assistant professor of Political Science. "I thought it was good."
Kiotah Blalock, criminal justice freshman, said she enjoyed Watkins' speech. "I have to learn how to budget my money before giving handouts to other people," said Blalock.
Ebone' Holloway, mathematics sophomore, said, "Money is not as important as everyone makes it out to be, but as long as you manage it you will have it."Do everything else that's right in your life and money will come," she said.
Watkins believes that not giving up is critical. "Successful people kept trying until they got it right," he said.
Watkins said when he was growing up he did not consider himself college material, in part because he did not make a single "A" in high school.
Watkins eventually broke that cycle and obtained his B.A. and B.S. degrees as a triple major in finance, economics and business management.
He received his master's in mathematical statistics from The University of Kentucky, and his PhD in finance from Ohio State University in 2002. That year he was the only African American to receive a PhD in finance.
Watkins also encourages students to overcome the slave mentality.
He said that African Americans received freedom but not independence, and that being aware of how money works can help people gain independence.
"I hope students walked away knowing how to live their lives with purpose and a commitment towards finding out what it truly is to be financially independent," said Watkins.
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