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In today’s world, wellness is more than just a buzzword; it’s a way of life. While we often focus on physical and mental health, financial wellness is just as critical. Money is one of the leading causes of stress, making it harder to maintain a healthy mind and body.
A recent study by Securian Financial revealed that 42% of Americans say money negatively impacts their mental health, leading to stress, anxiety, and feelings of insecurity. But here’s the good news: with the right tools and mindset, you can reduce financial stress and improve your overall well-being.
Collegiate Credit Union, a digital-first financial institution tailored for students, is here to help. With innovative financial tools combined with financial education, Collegiate empowers students to take control of their finances and build confidence in their money management skills.
Ready to stress less about your money? Read on for three simple tips from Collegiate to boost your financial health.
Tip 1: Revamp Your Budgeting Routine
You might think that “finances” and “fun” don’t belong in the same sentence, but with a little creativity, they can. If reviewing your budget feels like a chore, try making the experience more enjoyable. Set up a cozy space for yourself when you go over your finances. Maybe you put on your favorite hoodie, sip your go-to drink, or listen to a podcast. You could even reward yourself with a treat, like takeout from your favorite restaurant, when you finish your financial tasks for the month.
It’s also important to prioritize space in your budget for things you enjoy. Collegiate accounts let you set trackable goals using customizable folders and easily automate your savings, making it simple to save for what matters most to you. Whether it’s getting a coffee every Friday or saving for a new book, live music, or travel — having a plan for the things you love can help make managing your money feel more rewarding and even fun.
Tip 2: Team Up with Friends to Crush Your Goals
Sometimes, doing things with friends makes even the most boring tasks feel fun. If you struggle with staying motivated to manage your money, consider hosting a financial wellness night with your friends. Talk about your spending habits and find areas where you can cut back to save for things you care about. You can even create vision boards together — either digitally or with printed images from magazines. Your vision board could include savings goals, debt payoff milestones, or even plans for future vacations or activities.
Another idea is to create visual trackers for your savings or debt goals. Using Collegiate’s in-app tools, you can stay motivated by tracking how much you want to save for specific goals and then monitor your progress visually to help make your financial goals feel more achievable.
Tip 3: Master Your Money in Just 5 Minutes a Week
The more you know about personal finance, the less intimidating it becomes. FinStart by Collegiate makes learning easy, with podcasts, quizzes, webinars, and blog posts on topics that college students care about, like budgeting, credit, investing, and entrepreneurship.
Understanding how to manage money gives you the confidence to make decisions that support your financial goals. Financial wellness is essential for your overall well-being, so it’s important to build a healthy relationship with your money. Try these tips and see how they can help you reduce financial stress and improve your overall health.
Ready to Get Started?
Collegiate Credit Union and FinStart are here to help you take control of your finances and boost your confidence. From fee-free checking and savings accounts to customizable savings goals and spending insights, Collegiate offers student-focused solutions to help you succeed. Explore everything Collegiate has to offer and take the first step toward stress-free finances today.
Sources
https://www.forbes.com/advisor/investing/financial-wellness/
https://cashasap.co.uk/blog/make-personal-finance-fun.html
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