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Fleishman Career Center Empowers Students’ Financial Well-Being
Binghamton University students had the opportunity to connect with a financial advisor from Visions Federal Credit Union at a free event on April 17 at the Fleishman Center for Career and Professional Development. The program gave students insight into the financial aspects of negotiating a job offer, including salary research, evaluating total compensation including negotiating benefits, and calculating cost of living in the event of relocation.
Understanding personal finances not only makes current financial management easier, but also lays the foundation for future financial stability.
Importance of financial education for college students
College represents a significant life transition, often marking the first time students manage their finances independently, said Matt Kisloski, financial wellness manager at Visions Federal Credit Union.
“Financial education is so important for everyone, and in many cases, it’s even more important for college students as they transition through life,” Kisloski said. “Having a strong understanding of personal finance allows students to build a foundation that can benefit them for the rest of their lives.”
Kisloski said college is often the first time people are living on their own and managing to make ends meet.
“As life progresses, it sometimes becomes more complex, so building that foundation of financial well-being while still in college gives students the ability to navigate their finances with a plethora of accessible resources that are readily available. This often makes the transition to life and finances after college smoother.”
Events Manage your money
Fleishman Career Center’s Manage Your Money events cover essential financial topics, offering practical tips and tools for budgeting, credit management, and goal setting.
Kelli Smith, assistant vice president for student success, emphasized the university’s commitment to supporting students in developing lifelong financial skills.
“The institution’s role in student financial well-being is to help students develop essential skills and gain information that will enable them to successfully navigate different aspects of their lives,” Smith said.
Events like the April 17 session reflect Binghamton University’s proactive approach to student support, addressing financial concerns to ensure students can focus on their academic journey without undue financial stress. Collaborations with partners like Visions Federal Credit Union further enhance students’ financial literacy and access to resources.
Top 5 Tips for Financial Wellbeing
- Create a budget: Creating a budget tailored to individual needs and expenses lays the foundation for financial stability.
- Find a system that works for you: Explore different financial management tools and methods to identify what best aligns with your personal habits and preferences.
- Set SMART goals: Set specific, measurable, achievable, relevant, and time-bound financial goals to guide financial planning and decision-making.
- Understand your credit score: Understanding credit scores and the factors that affect them is crucial to building and maintaining healthy credit.
- Embrace resilience: Recognize that financial setbacks are a part of life and build resilience to overcome challenges.