Financial well-being generally refers to learning how to manage personal finances so that one can be financially secure and flexible, both in the present and in the future.
In the American Psychological Association’s annual Stress in American survey, concern about money is consistently identified as a top source of stress in American adults.1 Additionally, a 2018 survey of 62,171 college students revealed 35% of respondents labeled their financial situation
as “stressful,” 24% labeled their financial situation as “often stressful,” and 14% labeled their financial situation as “always stressful.”2
Therefore, learning how to understand and manage your personal finances can be an important pathway to increased well-being and reduced stress. The below resources provide information to help you better navigate personal finances, with links to information about campus-based resources.
Resources
- Learn more about financial well-being through the
Consumer Financial Protection Bureau’s website. This website also provides guides on topics such as paying for college, buying a home, and planning for retirement.
- Have a question about your Hendrix-related finances? Consider talking with someone in our
Business Office or
Financial Aid.
- Need a little extra assistance? Consider making an appointment with
Student Outreach Services or applying for financial help for things like textbooks, transportation, and appointments through the
Guthrie Fund.
- Learn about managing your own finances by adding BUSI 110: Personal Finance to your schedule before you graduate. Here is a description of the course content:
- This
course covers critical thinking and quantitative skills in making decisions
regarding personal financial issues. Specifically, the issues include money
management, budgeting, payroll, taxes, student/auto/house loans and how
interest rates work, consumer credit, insurance, retirement and estate
planning, and general financial security. The course includes extensive
spreadsheet modeling and data analysis.
- If you aren’t able to take BUSI 110, consider making time for the short course, “Understanding Money: A Real-World Personal Finance Short Course,” sponsored by the Office of Career Services each spring. This is a four-session, hands-on short course taught by Hendrix Business
Professors Gina Bergfeld, Laura Hanlon, and Hillary Looney. “Understanding Money” will give participants real-world strategies to make wise decisions about financial issues including budgeting, paycheck deductions, car and student loans, investing, saving, taxes, insurance, and employee benefits.
1
https://www.apa.org/images/state-nation_tcm7-225609.pdf
2
https://healthymindsnetwork.org/wp-content/uploads/2019/09/HMS_national-2018-19.pdf