Definition of Financial Wellness
Financial Wellness involves the process of learning how to successfully manage financial expenses. Money plays a critical role in our lives and not having enough of it impacts health as well as academic performance. Financial stress is repeatedly found to be a common source of stress, anxiety and fear for college students. Keeping track of expenses, making a budget, and sticking to it are important skills to have in order to be finically responsible and independent. Learning how to maximize your financial wellness now will help you feel prepared to handle potentially stressful financial situations in the future.
Why is Financial Wellness Important?
Financial Wellness in College
College students are often subject to significant financial distress. Student debt can be a looming challenge, especially with the rising costs of higher education, housing, bills, food, taking care of other dependents, and other basic expenses. Keeping up with these financial responsibilities can quickly become overwhelming, but ignoring them will only increase feelings of stress, anxiety, and fear. With so many things to juggle within a busy academic schedule, adding in some time every day to seek ways to improve financial wellness will help you feel less stress. Developing financially smart habits during college is a valuable investment to achieve your future goals.
Financial Wellness Outside of College
For those who are ready to graduate, repaying student loans can often be daunting. However, it’s not too late to take advantage of some comprehensive tips on how to repay your loans, courtesy of the U.S. Department of education. Check out their PDF here.
The Route to Financial Wellness
Rest assured that you are not the only one in the process of learning how to manage finances more efficiently. There is an array of resources on and off campus as well as workshops and programs that can guide you toward money-managing success. Everyone’s financial situation is different, so it is up to you to select the proper mix of resources that work best according to your needs. The most important point to remember is that maximizing financial wellness is a process that does not occur immediately. Be proactive by seeking related resources and learning about money-managing strategies to build your financial wellness. Financial Wellness Tips:
- Don’t put it off - identify and address any financial problems before they start.
- Keep organized records of your finances.
- Take advantage of student discounts.
- Plan ahead and set budget goals.
- Balance your other dimensions of Wellness, they all tie in to financial wellness as well.
Financial Wellness Resources
There are many ways in which you can enhance your financial wellness. Below is a list of resources that will assist you in building your financial wellness both here at UC Davis, as well as other outside organizations.
UC Davis Resources
Managing Spending - Aggie Blue to Gold, Financial Wellness Program - The Aggie Blue to Gold Financial Wellness Program has online resources and student advisors you can meet with to help you improve your financial wellness.
- Cash Course - Cash course is a budgeting tool designed for students.
- Mint - Mint is a budgeting tool that helps you create and stick to budgets. It is also available as a mobile app.
- Money Management Tips - Managing money is the key to financial success, but it can be especially difficult for students on a tight budget. So the Financial Aid Office has put together a few ideas to help make it easier.
| 
Available for All |
Financial Aid: School - FAFSA - Free application for federal student aid.
- UC Davis Financial Aid Office - Learn more about the different types of aid and tuition assistance programs.
- Family Financial Assistance - Many students have dependent children to support, and need assistance with child care expenses. The WorkLife and Wellness office, in coordination with Graduate Studies and the Financial Aid office, offers limited grants and loans to help meet those costs.
- Textbook Buying Tips - 11 ways to beat the system when buying college textbooks (an article from Today).
- We Are Aggie Pride program - We are Aggie Pride has a new way to help struggling students pay for their textbooks and course materials: the UC Davis Stores Award! This quarterly award was created through a groundbreaking online partnership between the UC Davis Bookstore and Amazon in 2013.
| 
Available for All |
Financial Aid: Basic Expenses - CalFresh - The CalFresh Program, federally known as the Supplemental Nutrition Assistance Program (SNAP), can add to your food budget to put healthy and nutritious food on the table.
- Aggie Food Connection - The Aggie Food Connection is a newly launched website for UC Davis students, faculty, staff, parents and community members to learn about the nutritional resources on the UC Davis campus and regional community.
- Housing/Utilities Expenses - PG&E offers CARE, the California Alternate Rates for Energy Program. It gives qualified households deep discounts on their energy bills.
- Medi-Cal - Get more information on health insurance and other health costs.
| 
Available for All |
Available for All
- Aggie Job Link - Aggie Job Links offers extensive employment opportunities located at UC Davis and surrounding communities, which include on-campus, off-campus, Work-Study, and non-Work-Study positions.
- Financial Stress and How to Reduce It - An SHCS blog post aimed to assist students in reducing their financial stress and offer possible solutions for the future.
- Food Insecurity: Access - An SHCS blog post about food insecurity, which can be brought on by financial difficulties.
- Cheap Food (DavisWiki) - A list of places in and around Davis to get food for a low cost.
- SHCS Counseling Services - We have both individual and group counseling services for all UC Davis students.
