Financial Success Tips for the upcoming School Year 

Welcome back to school! We hope your summer break went well and that you are feeling refreshed and ready for a successful academic year. The Financial Wellness Center's Mission is to help students have lifelong financial success. Here are 3 tips to help you have financial success this school year, and ultimately throughout your lifetime: 

1. Plan for big expenses

Look ahead to this school year and take note of which large expenses you will have. We realize there are always large unexpected expenses. However, some large expenses many college students typically face include rental deposits, tuition payments, auto and renter's insurance premiums, birthdays or holiday expenses, trips with friends, etc.

Here's a tip: once you have it all figured out which big expenses you will have, set aide some money each month, and add it to a separate savings account. Most banks and credit unions allow costumers to open multiple savings accounts for no additional fee. 

2. Take an inventory of your income

Being aware of what money you have coming into your bank account or your school tuition account is key to staying on top of your personal finances in college. Students can often have many streams of income to these accounts including part-time jobs, side hustles, grants, scholarship money, money from family, student loan money, etc. 

3. Set financial goals for yourself and readjust as needed

Setting financial goals, even in college, will set you up for financial success in life. Financial goals can be based on a specific dollar amount you'd like to save, or you may set a financial goal to take time to educate yourself on a specific area of your personal finances --maybe you'd like help understanding your student loan terms better, or help figure out what your employer benefits are and what they mean to you. Learning about your personal finances while in college is a great place to start on the path to lifelong financial success. 

This fall, our office will  be open every day to accommodate walk-in appointments. We will also be offering extended hours online Monday thru Friday in the evenings from 5 PM- 8 PM and Saturdays 8 AM- 3 PM. Appointments may also be scheduled online or over the phone.  

 

 

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