Financial Wellness - The Basics

Budgets

Creating a budget is the first step to developing a workable spending plan. It will help you manage your expenses and keep you on the right path to achieve your financial goals.

Please visit Federal Student Aid for information on budgeting resources.

Credit, Credit Reports and Credit Scores

If you plan to buy a house or a car, you will need to get a loan. In order to get a loan, you will need to have good credit. Some student loans also require you to have good credit. So how do you build good credit? If you have a credit card or loan, information about your spending and repayment patterns is sent to the three main credit reporting bureaus (Equifax, Experian, and TransUnion). They also calculate a credit score. A higher score is an indication of an individual who manages credit wisely.

Please visit the Federal Trade Commission for information on credit scores.

Saving and Investing

We’ve all heard the saying “save for a rainy day”. Whether it’s a short term goal like the newest phone or tablet, or a long term goal like a comfortable retirement, we need to set money aside to meet those goals.

Please visit the Financial Literacy and Education Commission for information on saving and investing.