Smart money moves: Financial Literacy Month tips
Nov. 7, 2023
Financial literacy is important because it helps you make informed decisions about your money. Understanding your finances allows you to secure your future, prevent debt, reduce stress and achieve your financial goals. Plus, with strong financial literacy, you’ll be smarter with budgeting, saving and investing.
November is Financial Literacy Month, so it’s the perfect time to learn how you can stay on track financially at college and beyond.
Attend a Thrifty Thursdays Workshop
Financial Aid and Awards presents Thrifty Thursdays, a series of workshops to help you stay on track financially.
These workshops are eligible for your co-curricular record. Plus, attend four out of five workshops in a semester to:
- be entered for a chance to win $250 on your ONEcard each semester*
- receive a Financial Literacy badge to display on LinkedIn!
Build your budget
Use the My Budget tool in MyGCLife to effectively manage your money, save for expenses and prepare for emergencies.
Once you’ve built your budget, remember to check in monthly to stay on track. Here are some helpful tips to keep in mind:
- Review your budget monthly – are you on target?
- When you subtract your expenses from your incoming money, does it balance?
- What extra expenses can you reduce if necessary?
- Plan for the future – try to save money as often as possible, even if it is only $5 at a time
- Keep organized records of all your financial affairs (receipts, etc.)
- Maintain a good credit standing
- Even in emergencies, limit credit card use and available credit
- Explore part-time jobs at the college
Preparing for education costs
It’s never too early to start saving for your education! The more you save before you start school the less debt you’ll have.
If you’re looking into a private student line of credit at a bank or financial institution, different rules and procedures may apply, so check with your bank or financial institution’s procedures and deadlines.
The Financial Aid and Awards team is available to answer questions Monday to Friday from 8.30 a.m. and 4:30 p.m., both in person and remotely.
Interested in a career where you get to work with numbers? Explore pathways in business, accounting and more!