Jenny Becker, Financial Education Coordinator
Students can face multiple obstacles in life as they frequently juggle work, family obligations, personal health and wellness needs, and taking classes simultaneously. Managing personal finances can leave one feeling unsure of where to start and whom to trust.
In the past, most financial education was offered to high school-aged students, which comprised of learning how to balance paper checkbooks in home economics. Electronic investing, cash apps, and gift card scams are just a few of the additions to the personal finance primer of budgeting, credit scores, debt management, and interest rates.
Annuity.org reported that, “Seventy-five percent of U.S. teens lack confidence in the knowledge of their personal finances, and 23 percent of U.S. adults between the ages of 18-29 have credit card debt that’s over 90 days overdue. Americans owe over 800 billion dollars in credit card debt as of the first quarter of 2022.”
Thus, in the Fall of 2021, Waubonsee Community College introduced a new program through a Title V grant called Money Matters. It is a free and confidential peer-to-peer financial wellness program. As the coordinator of that program, I encourage students to meet with a trained Peer Finance Educator to learn skills on being better with their money now and creating a plan for their financial future. Waubonsee’s Peer Finance Educators are instrumental to the program and deliver the topic of money to students in a voice they trust.
What is the best way to tackle large and complex concepts? Make them small, manageable, and fun! A skill I also taught during my years as a preschool teacher. As a Financial Aid Counselor, I assisted students in navigating the complexities of financing college and utilizing grant and scholarship resources. I often shared with traditional-aged students, “Live like a college student now so that you don’t need to live like a college student when you’re 40.”
My position as a Financial Education Coordinator at Waubonsee Community College allows me to bring the best of my skills and experiences to benefit my Peer Finance Educator team and the students enrolled at Waubonsee. Waubonsee students can request an appointment with a Peer Finance Educator, access learning tools, view community resources, read vetted articles, and play engaging financial education games. Students come to the Money Matters program with many different personal finance questions such as, “Can you help me make a budget and keep it?”, “I know I should apply for scholarships but it seems so complicated, do you have any advice?”, “I want to build up my credit, how do I do that?”, “I want to continue my education; can you help me map out some plans to pay for a four-year institution?” These are just a few- questions that Money Matters assists students in answering.
It is normal to be unsure of whose information to trust regarding personal finance. According to Annuity.org, “Twenty-five percent of Americans say they don’t have anyone they can ask for trusted financial guidance.” Money Matters is the program meeting that need for students on our campuses and increasing access for students to have financial resources and freedom.
