Why is Financial Wellness Important?

Financial Stress Can Cause Problems

College is already stressful enough without having to worry about how you are going to make ends meet financially. When thinking about wellness, most do not realize that there is more to it than just physical and mental. Wellness is split up into eight different categories, and you need to have a proper balance of each to reduce stress, and health related issues. These eight categories include: emotional, spiritual, intellectual, physical, environmental, occupational, social and financial. Financial burdens, alone, have been shown to cause:

• Increased absences 
  
• Sleep problems
• Sickness from avoiding doctor visit bills
• Reduction in productivity 
• Reduction in your ability to concentrate 

Missing class or failing to complete assignments can cause more stress in other areas of wellness. It's important to make sure that you have your financial matters at a point where you feel comfortable handling them. If you become unsure, there are people on campus that are willing to help you figure things out to reduce that stress.  

How Can I be Prepared for the Financial Stress of College?

The keyword here, is to be prepared. When you see cost of attendance what is the first thing that comes to mind? The answer is most likely, tuition. However, that's not all that's included in cost of attendance! It includes a long list of items that you might purchase during the school year. Below is a list of common college expenses. Some you may have thought about and others may have never crosses you mind. Being prepared means knowing where your money is going!

• Tuition
• Room and board
• Textbooks
• School supplies
• Transportation 
• School activity fees
• Groceries 
• Clothing
• Utilities (Phone, electric and water bills) 
• Laundry 
• Gas
• Eating out
• Credit card payments
• Electronics (Such as a laptop for schoolwork)
• Media items (Netflix, Hulu, Spotify)