Financial Wellness involves learning to successfully manage financial expenses. Money is an unavoidable necessity of life. Financial stress is a very common source of stress and anxiety – both of which can impact your health and academic performance. The financially well person is, therefore, aware of their finances and budget and is able to manage their finances to achieve their personal goals and prevent financial stress.
Tips for Financial Wellness
Utilize A Budget -
Develop a budget that is based on your monthly income, expenses, savings, and then living within your means. If an emergency occurs, try to adjust your budget rather than relying on credit cards. Developing a budget helps you feel more in control of your money coming in, and money going out.
Plan For Major Purchases -
If you are planning to take a trip, or buy a big-ticket item such as a new laptop, adjust your budget to build your savings for that specific item. These savings should be separate from your regular or emergency savings budgets.
Build Your Savings -
A good rule of thumb is to obtain a minimum of six months worth of income in savings, and let it build over time. Having a steady savings helps for more than just emergencies. These funds can be used for whatever you desire and you can adjust how much you are saving depending on what you are planning to spend the funds on.
Money Management Center
Get FREE financial coaching.
Financial Aid & Scholarships
WSU provides more than $90 million in financial aid and scholarships each year. Not all scholarships are based just on grades and test scores. Besides academic-based scholarships and aid, you can also apply for everything from need-based financial aid for low-income students to an activity-based scholarship for being a DJ at WSU's radio station.
Ascent Credit Union
Weber State Credit Union offers financial services to students and community members. Learn about loans, credit, and banking.