Financial Wellness
Financial Wellness involves understanding and responsibly navigating one’s monetary
situation. It involves being informed about financial concerns and being prepared
for financial changes.
Why is Financial Wellness Important?
Focusing on financial well-being is crucial to reaching financial goals. Having a handle on one’s finances can reduce stress and anxiety, which can positively impact academic performance. Financial wellness allows one to enjoy life while living within their means. Being responsible, educated and informed about finances can help one navigate unplanned financial constraints and prepare for the challenges of life.
Examples of Financial Wellness:
- Avoid multiple lines of credit
- Create a personal budget
- Keep an ongoing record of financial activities
- Limit impulsive spending