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Healthy Campus & U

By the SU Wellness Centre
February 2014

Getting to Financial Wellness

1. Develop short, mid, and long term financial goals

  • Short-term (weeks): Rent & bills, school supplies, hobbies
  • Mid-term (months): Tuition & books, laptop, vacations
  • Long-term (years): Car, house, retirement fund
  • SMART goals (Specific, Measurable, Attainable, Realistic, Timely)

2. Track your spending

  • Write down your expenses in a notebook
  • Download or develop a spreadsheet
  • Collect receipts and record expenses
  • Set up an online banking account

3. Create an effective spending plan or budget

  • Consider your income and expenses
  • Create categories of fixed and variable incomes & expenses
  • Evaluate your financial plan and adjust
  • Don’t spend more than you earn

4. Save Money

  • Treat saving as if it is a regular ‘expense’
  • Save at least 10% of your income
  • Saved money can go towards your short/mid/long term goals AND/OR an Emergency fund (for medical & dental expenses, car repairs, trips back home for family emergencies, etc.)

5. Use Credit Wisely

  • If you miss a payment, credit card companies have the right to increase your interest rates
  • Pay more than your monthly minimums (remember, a majority of your monthly minimum is interest)
  • Credit scores will affect your ability to gain assets (cars, house, etc.)

6. Strategies You Can Use to Enhance Your Financial Wellness

  • Try to use cash or debit instead of making credit card purchases
  • If you have multiple debts, prioritize high-interest
  • Compare shop (for example: Starbucks regular coffee is $2.85, Tim Hortons regular coffee is $1.73, making your own coffee at home can cost you $0.43�$0.75)
  • Remember that spending may be an impulsive habit: if you really want something consider whether it is really worth it
  • Consider whether you are buying something just because it is on sale
  • Open up a tax-free savings account (TFSA) so you do not have to pay taxes on the money saved in this account
  • Be mindful of your credit and finances. Remember that all financial activity is monitored by credit bureaus: it is critical that you do not miss monthly payments on rent, mobile phones, utilities, loans, etc.

On Campus Resources

Gain career-related experience and build your professional network as a
Peer Helper! These leadership positions place you within an office on campus, where you’ll collaborate with both staff and students on important University issues and programs. Find out which Peer Helper position is the best fit for your goals at�www.ucalgary.ca/peerhelper

 

Footnotes:


1. http://www.ucalgary.ca/wellnesscentre/resources/guide/financial
2. ACHA-NCHA II: U of C Executive Summary, Spring 2013

University of Calgary

Apps and Tools

Mint App
(Itunes / Google Play)
DebtMinder App
(Itunes)
Money Mentors Online Classes
(Click Here)
Debt Management Quiz (Money Mentors)
(Click Here
)
Money 101 Booklet
(Click Here)

Student Loan Calculator (Click Here)

Upcoming Events

See SU Wellness Centre website for a full calendar

Wednesdays
until April 15

Yoga and Mindfulness Program (Drop-in)

Feb 28th � Deadline for Champions for a Healthy Campus submission

Mar 2nd & Mar 5th
My Grad Skills Workshops
(Building a Successful Supervisory Relationship & Moving Beyond Conflict in the Supervisory Relationship)

Mar 4th
Communal Table Project

Mar 16th
Student Meal Planning 12pm � 1pm

Mar 23rd � 28th
Pluralism and Religious Diversity Week

Mar 30th
Smart Student Nutrition
12pm � 1pm

Mar 31st
Health Check
Foothills Campus
11am- 2pm




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