Financial wellness is the ability to meet basic needs and manage money for the short- and long-term.
Signs of Financial Wellness
- Learning how to manage your money and establishing a personal budget
- Not living beyond your means
- Making a plan to pay back your student loans
- Learning about debt and how to manage it
- Building good credit
- Thinking long term, e.g., setting up a savings account, setting up investments, and/or a retirement account
- Learning not to let money be the driving force of your life or an indication of your self-worth
- Donatingsome of your money, if possible, to a cause you believe in
Check-in with your financial wellness:
- How does money impact your emotional wellness?
- Do you know how to manage your money so you know what you have and don't have?
- Are you able to pay tuition and additional school expenses? If not, do you know where to go for help?
- Do you have spending money saved so that you can get off campus and explore the local area?
- Will you need to find a job on or off campus?
- Are you thinking about a plan to pay back your student loans?
ExploreFinancial Wellness
Free Money Management Resource for UNH Students
CashCourse is a FREE financial management resource for UNH students, providing:
- Financial Management Information
- Tips for Money Management
- Interactive Tools
- Worksheets
- Calculators
GET STARTED WITH CASHCOURSE
- Go tohttp://www.cashcourse.org/
- Create a free student account
- Start taking charge of your money
Finding Financial Wellness at UNH
Know your cash flow
Distinguishing needs and wants is an important step to achieving financial goals and attaining financial independence.Limit your spending to what matters most and use the rest of your money to power your financial future.
Ask yourself:
- What money are you bringing in?
- Where is it coming from?
- Can you depend on it each week, month, or year?
- What are your expenses? Account for all your expenses, even the small ones, such as a cup of coffee orpizza.
- What do you need?
- What do you want?
Ways to stretch your dollar in Durham
- Cut out/cut back on costly habits
- Limit music and app downloads
- Use UNH’s free public transportation
- Go to free on-campus or local events
- Comparison shop online to find the best deals
- Need clothes? Shop the sales rack or at thrift shops
- Borrow books, music, etc., from Dimond Library
- Read your favorite magazines at Dimond Library
- Use your student discount
- Buy generic
- Limit eating out by using your meal plan
- Save even more money by cooking your own meals
- Drink less - cutting back on alcohol can save money
- Use online discounters such as Living Social or Groupon
How to build good credit in college
Think of your credit score as a financial GPA: Your goal is to keep improving it and then maintain it when it’s the highest you can achieve. If you’ve recently earned a failing grade—in the form of making late payments—you’ll need to workmuch harder to raise your score!
- Pay all your bills on time, including loan payments
- Do not overdraw your account or bounce checks
- Before you apply for a credit card or loan, ask yourself ifyou really need it and if you can afford the payments
- Contact creditors immediately if you are strugglingto make payments
- Check yourcredit scoreat least annually
Start Saving – pay yourself first
Paying yourself first means that you’re making savings your number one spending plan priority. Putting even $10 to $25 into a savings account each paycheck will help you establish a savings habit.As you continue to pay yourself first, you can grow your savings and establish an emergency savings fund. Over time, you can increase your contributions to savings and pay off outstanding student loans and/or credit card debt.
- Open a savings account
- Save money as part of your budget plan
- Decide what is for saving and what is for spending
- Put “extra” money into your savings account
- Set short and long-term goals
Know what you owe – student loans at UNH
- Read the fine print on any loans you take out
- Understand your student loan obligations
- Submit a new FAFSA every year
- Talk to a financial aid officer about any change inyour situation
- If you have questions about your student loans, contactFinancial Aid
- If you have questions about any private loans, callyour lender with any questions
Request a Financial Wellness Program
Are You on the Right Cash Course? Many college students have minimal skills in managing their money and debt. The CASH (Create a Savings Habit) program gives an excellent overview of budgeting, saving, debt, and money management.
Request Financial wellness workshop
Talk to a Wellness Educator/Counselor
UNH students can make individual appointments with a wellness educator/counselor to discuss financial wellness. Call (603) 862-3823 or make an appointmentonline.
Take a Screening
If you are concerned about your gambling or someone else's,this anonymous online gamblingscreeningtakes only a few minutes and consists of a series of questions. After completing the screening, you will receive referrals, resources, and more information.
UNH Resources
- UNH Financial Aid
- Granite State Management & Resources
- Financial Literacy Information - Dimond Library
- National Endowment for Financial Education
- Housing, Food, and Financial (Basic Needs) Support
- Laptop Loaner Program
