Financial Management

Final year students carry an average of $4,100 in credit card debt and $29,400 in student loan debt. Does this sound like you? Managing finances can be tricky; it's also an important life skill. Do you know how much income you have per month? Do you know how much you spend every month? Avoid ending up in debt and being a statistic by managing your finances well.

" The day the child realizes that all adults are imperfect he becomes an adolescent; the day he forgives them, he becomes an adult; the day he forgives himself, he becomes wise."

Aiden Nowlan

Looking Back:
A Self-Reflection

List your sources of income here. Create a monthly and/or weekly average income by adding all of your sources together.

Check out our worksheet.

Quiz Ideas

  • Do you want to improve your personal finances? Start by taking this quiz and getting an idea of how well you’ve managed your money so far.
  • Do you know enough about financial planning to manage your money at college? This quiz can help you find out.

Moving Ahead:
The Challenge

Are there ways you can increase your monthly or weekly income?

Check out our worksheet.

Articles

Campus Resources

  • Student Financial Aid
    Student Financial Aid provides information on different ways to pay for college including scholarships, grants, loans, and more. They also offer links to other sites regarding financial aid.
  • Apple Federal Credit Union
    Apple FCU offers a variety of ways to manage money and access money and they offer a library of websites, tools and resources on financial literacy topics.

Additional Resources

  • Student Market.com
    Student Market.com offers tips for building and maintaining a strong credit history.
  • Balance Track
    Balance Track is a website designed for college students to help teach them about finances and how to set them up for financial success in the future. Their sites covers money management, check and savings accounts, credit cards, household bills, and student loans.
  • Young Money
    Young Money was begun to change the way young adults earn, manage, invest and spend money, specifically 17 to 27 year olds. The site focuses on money management, entrepreneurship, careers, investing, technology, travel and entertainment.
  • College Parents of America
    College Parents of America offers financial literacy information for parents and students. The site covers budgeting, credit cards, liability protections, overspending and more.
  • Dave Ramsey.com
    Dave Ramsey.com is a site designed to help people become smarter about managing their money. It was created after Dave Ramsey’s personal debt experience. The site offer information, classes, tips, tools, coaching and more to help educate people about being money smart.
  • Federal Trade Commission
    The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. They offer information on shopping and saving, buying a car, credit and loans, and dealing with debt.
  • Federal Student Aid
    The Federal Student Aid site offer a budget calculator to help determine expenses and estimates one’s total available income. They help you identify personal resources and the total cost of an education.

David S. Anderson, Ph.D.
Professor Emeritus
Director, Center for the Advancement of Public Health
College of Education and Human Development
School of Recreation, Health and Tourism
George Mason University
Fairfax, VA 22030
PH: 571-296-2521
Email: danderso@gmu.edu

Affiliated websites:
College of Education and Human Development
Center for the Advancement of Public Health
vacalc.org