"It's not about how much money you make, it's how you save it" - Unknown Author
Understand your finances
At GMercyU, we know how important it is for you to understand how to set financial goals, create a budget and minimize your debt. That’s why the Office of Student Activities and Leadership Program offers Money Matters workshops several times each semester. Here, you will be provided with the practical tools and knowledge necessary to get on the path to responsible money management.
Visit us on the second floor of the Waldron Student Center, or send an email to firstname.lastname@example.org.
Money tip of the month:
Understand the signs of overspending! Using credit as a primary source of payment, using one credit card to pay off another, and making only the minimum payment on bills each month are signs that you’re overspending. Instead, try to live within your means. Before a shopping trip, think about items that are necessities and those which you can go a week or a month without.
Information adopted from Student Finances, Unbiased Advice for Making Every Penny Work. Paperclip Communications.
- More Money lecture by Peter Beilagus notes
Saving on a Tight Budget
Think you’re a broke college student with no money to save? Consider this: any amount is better than nothing. If you save just $5 a week for four years, you will have saved $3,840? Start Today!
- Keep track of your spending.
- Downsize your daily expenses (Get the cheaper/smaller coffee or bring your coffee from home/ your residence hall room).
- Put all your change in a jar
- Discipline is key
Budget, budget, budget
Worried about the “freshman 15?” That’s not nearly as scary as the thought of racking up $5,000 in credit card debt during your freshman year! Here are 5 financial tips every student should consider:
- Make a budget and stick to it.
- Take advantage of freebies.
- Watch where your money goes.
- Don’t get a credit card for the wrong reasons.
- Be careful with your personal information.
Credit Card Responsibiility
Did you know more than 60% of millennials don't have a credit card? GMercyU Business Professor Carlo Silvesti talks about why this isn't a good thing and shares his five tips on how to use credit cards responsibily on GMercyU's blog, MERV's Word.
- Peter Bielagus’ "More Money Lecture" tips and outline from his GMercyU campus Lecture. Click to learn more about how to manage your finances.
- Chegg offers more than just textbook rentals. Check out their "10 Personal Finance Tips for All College Freshmen” and consider that 70 percent of college students admitted they’ve got a thing or two to learn about personal finance.
- Americasaves.org has resources such as a budgeting worksheet available to help students learn to save on a tight budget. Check out the web page to learn more tips and tricks to find extra money to save for emergencies.
- TheSimpleDollar.com was created as a manifestation of its mission to build a web based resource providing valuable and useful content about managing personal finances while trying to build a financially secure future.
- Mymoney.gov is the U.S. government’s financial education website. Available are “My Money Five” tips on how to make the most of your money. Also check out the “Life Events” tab for information pertaining to college students.
- The National Endowment for Financial Literacy (NEFE) offers free resources to teach college students about money management. The College Series includes FAQs, presentation materials and resources.