Financial Literacy Month

First created by Jumpstart Coalition for Personal Financial Literacy, April has been designated as Financial Literacy Month. Savvy Student would like to do our part in helping the Brandeis community become more informed about their financial health and well being, so we have attached information below from NASFAA, the National Association of Student Financial Aid Administrators. All month long, NASFAA will be offering a series of articles that will direct students to free resources to teach them the basics of banking, budgeting, credit card responsibility, credit scores, etc.

To take advantage of all that NASFAA has to offer please visit the link below:

http://www.nasfaa.org/publications/2009/anliteracy040109.html


To help you get started we have some budgeting suggestions for you:

1. Figure out how much money you earn each week or each month (after taxes).

2. Calculate your monthly expenses. Include items such as rent, cable, internet and phone. If you commute to campus include transportation costs and if you have student loans account for monthly principal or interest payments. It is best to over budget since many of these bills vary month to month.

3. If you spend more than you earn review and track your purchases. Try to cut back on your spending or choose a cheaper alternative.

4. If you have a large amount of debt pay down the loans or credit card with higher interest rates first. Pay more than the minimum when you can and never be afraid to ask the company or lender for help.

5. If you earn more than you are spending you are on the right track. Try to take some of your money and put it into a savings account or invest a little.

6. It is never too early to start thinking about your financial future and it is never too late to repair the damage

Good luck!

Savvy Student