Financial Wellness Planning

Financial Wellness Plan IconYou may not have thought about Financial Wellness before now, but finances impact nearly every aspect of our lives. Financial Wellness is a state of being—and a skill you will develop as you engage in this part of MyPlan. Did you know that the number one reason students leave college relates to finances? Making a solid financial wellness plan equips you to achieve your academic goals and succeed in your chosen career.      

Investigate each element and complete the essential activity icon  essential activities. If you are looking to do more investigation into an area, explore the  deeper dive icon deeper dive activities to get more in-depth with the subject. 

Values, Goals, and Priorities

What do you you want your life to look like? What do you want your finances to do for you? Aligning your financial life with your values, goals, and priorities empowers you to achieve your personal and career goals. 

essential activity icon  essential activity

 deeper dive icon deeper dive activities 

Paying for College

Outline how you will pay for your college education and living expenses. As you investing in yourself and your future career, you may be making some sacrifices in order to work toward achieving your greater life goals. Financial aid advisors can point out resources to help reduce your financial burden.

essential activity icon  essential activity

 deeper dive icon deeper dive activities 

Create a Spending Plan

Knowledge is power. To gain a clear—understanding of your spending habits, take time to identify your monthly income and expenses. Being informed of your own personal financial reality is one key to your financial success in college.

 essential activity icon  essential activity

 deeper dive icon  deeper dive activities 

Conquering Credit

Do you know your current credit score? Understand the various aspects of credit, including credit reports, credit scores, and strategies to build or rebuild your credit moving forward.

essential activity icon  essential activity

 deeper dive icon deeper dive activities 

Destroying Debt

Debt isn’t necessarily bad. It is a tool to borrow money you anticipate having in the future in order to cover your present needs. After you’ve exhausted all other funding sources, you may have to take on debt to finance your education. It’s essential to understand the various types and components of debt, how interest can dramatically change the full cost of debt, and available resources for repayment.

essential activity icon  essential activity

 deeper dive icon deeper dive activities