Financial literacy involves the knowledge and skills necessary to successfully manage ones’ personal finances. It basically allows one to make smart decisions with their money. This is especially important for students entering college, as this may be the first time where you are responsible for managing your own finances.
Finances play a vital role in our lives and financial stress is a common source of stress for students and can negatively impact overall wellness. As a result, the University of Alabama understands the implications financial stress can have and promotes a holistic approach to student health and wellbeing through the Alabama Model. The Alabama Model recognizes that wellbeing encompasses a range of dimensions, including financial wellness, that all work in tandem to encourage one’s academic and personal success.
Wonder what the status is of your financial wellbeing? Take the financial wellbeing quiz to find out about your current financial wellbeing and next steps you can take to improve it.
