Financial Wellness

Financial Wellness is the ability to meet basic needs and manage money for the short-and long-term.

Financial starting points vary.
Although all dimensions of wellness are shaped by identity and lived experience, these influences are often very apparent in financial wellness. Access to resources and opportunities that support wellness and overall well-being can differ significantly.

Signs of Financial Wellness

Blue circle with white icon of a piggy bank and the text financial wellness

You have access to basic needs such as food, housing, healthcare, books, and a laptop.
You maintain a budget, being aware of what money is coming in, what money is going out, and what your debts and savings are.
You have checking and savings accounts with funds to pay for current expenses and savings for future needs and wants.
You are building credit by paying off credit card balances and additional debts.
You understand your student loans and are planning on how to pay them off.
You are proactive in learning about ways to manage, save, and invest your money.
You are protecting yourself from identity theft and fraud by not sharing your passwords.
You understand health, car, rental, home, etc. insurance.
You understand money is important, but it isn’t the thing that gives your life meaning.

5 choices you can make to enhance your financial wellness

Get your basic needs met
Ensure your basic needs are met by using resources like UNH’s Basic Needs program if you need support. Remember, the health fee included in your tuition provides access to on-campus care through Health & Wellness.
Build healthy financial habits
Pay bills on time, save when possible, and learn strategies to support your financial well-being now and in the future.Use UNH’s financial literacy offerings to enhance your financial wellness.
Stay informed about educational costs
Be proactive in understanding the money you are spending or borrowing to finance your college education. Take into consideration tuition and additional costs such as housing, textbooks, technology. Plan early for how you will begin to pay back your student loans.
Be mindful of spending as a coping strategy
Notice when spending, such as shopping, buying alcohol, gambling, and frequent food delivery, is being used to cope with stress. When you recognize spending as a coping strategy, consider making intentional choices to redirect those funds toward goals that are meaningful to you and support both your financial and emotional wellness.
Care for your occupational wellness
As a college student, you are often balancing work and school. Sometimes, the job you have isn’t the one you want long-term, but it’s the one you need right now to support your financial wellness. Wellness is always evolving—it doesn’t stay the same. How you care for yourself today may look different in the future, so it’s important to stay flexible and adapt as your needs and circumstances change.

Check-in on your financial wellness

What did I learn about money growing up? How does this impact me today?
How do I cope with my financial stressors? What resources can I use for financial help.
Are people in my life concerned about my spending habits?
Do I know how much money I have coming in and how much money I have going out?
When I vision my future, what role does financial wellness play? Today, what choices can I make to move towards my vision?

Financial Wellness for College Students

Create a Budget

Create a simple spreadsheet to track how much money is coming in and what’s going out. Categorize your expenses so you can better understand where your money is going and where you might be able to save. Learn more about creating a budget.

Stretch Your Money

Cut out/cut back on costly habits (e.g., food delivery, shopping, alcohol)
Use student discounts
Go to free on-campus and local events
Use the UNH and local libraries
Take the bus
Use your meal plan

Pay Your Bills

Think of your credit score as a financial GPA: Your goal is to keep improving it and then maintain it when it’s the highest you can achieve. If you’ve recently earned a failing grade—in the form of making late payments—you’ll need to work much harder to raise your score!

Pay all your bills on time, including loan payments
Do not overdraw your account, spend more than you are able to pay back
Before you apply for a credit card or loan, ask yourself if you really need it and if you can afford the payments
Contact creditors if you are struggling to make payments
Check your credit score

Learn more about credit and debt.

Create a Savings Habit

Putting even $10 to $25 into savings will help you establish a savings habit. Paying yourself first means that you’re making savings your number one spending plan priority. Over time, you can increase your contributions to savings and pay off outstanding student loans and/or credit card debt.

Open a savings account
Save money as part of your budget plan
Decide what is for saving and what is for spending
Put “extra” money into your savings account
Set short and long-term goals
Learn about investing

Learn more about savings and investing.

Understand Your Student Loans

Read the fine print on any loans you take out
Understand your student loan obligations
Submit a new FAFSA every year
Talk to a financial aid officer about any change in your situation
If you have questions about your student loans, contact Financial Aid
If you have questions about any private loans, call your lender with any questions

Learn more about paying for college.

Resources to Enhance Financial Wellness

UNH Resources

Other Resources

Talk to Someone About Financial Wellness

UNH students can make an appointment with a wellness coach to begin working towards your financial goals. Make an appointment online or by calling (603) 862-3823