Student Financial Wellness
Aside from managing your academic life, part of the challenge of being a student is learning how to manage your expenses and how to borrow and use credit wisely. We believe building basic money management skills now provides a solid foundation for a lifetime of financial success.
The goal of the successful Start program is to ensure that Boston College's students are financially literate for their lifetime by offering a series of workshops and seminars, led by Boston College employees and expert guest speakers, related to all aspects of personal financial management.
Want to learn about money management in a one-on-one setting? Connect with a Money Mentor! Successful Start offers Money Mentors who can help you establish a budget, learn about credit, and set realistic savings goals. Mentors receive training in personal finance and then meet with students to provide individualized coaching.
How to Get Involved
A budget can be an incredibly important resource in building stable financial habits. It can help you determine your financial resources by helping you pay attention to your monthly income and to decide ahead of time how you will spend it.
Creating a budget can help you reduce or eliminate unnecessary expenditures as you keep track of all of your expenses. This will allow you to determine the lifestyle that is most appropriate for you. Budgets are helpful for everyone, regardless of age or income. They allow you to achieve your financial goals and know exactly where you stand in terms of your finances.
It is hard to gauge how much money we are really spending per year and how much we are failing to save without a budget. With the availability of debit cards, we use less and less material cash, making it hard to notice when we are spending excessive amounts of money. With online banking, we can see how much money is going out and how much money we are putting into specific accounts.
Saving can make a huge difference in the way you see your money, your work, and your life. Starting to save today will make a big difference in the quality of life you have in the future.
When you use credit, you are borrowing money. A lender gives you cash now to make a purchase, and you agree to repay that amount over time, with interest rates and sometimes fees also applied to the borrowed amount.