What is Financial Wellness?
“Financial wellness involves the process of learning how to successfully manage financial expenses. Money plays a crucial role in our lives, and it can impact your health as well as academic performance.”
Student Health and Counseling Services, UC Davis
You can foster your financial wellness by:
- Starting with small changes that will add up over time (i.e. make your own coffee rather than buying it).
- Utilizing resources to expand your budget like CalFresh and other student discounts.
- Understanding your student loans.
- Starting a savings account – add a small monthly automatic payment, if possible.
- Identifying and addressing any financial problems before they start.
- Planning ahead and setting budget goals.
- Making a list or reviewing your bank account of all purchases in one week.
- Writing a list before you go shopping.
- Asking yourself “do I really need this?” before an unplanned purchase.