Recently, the Financial Wellness Center here at the University of Utah published a 'Financial Wellness Guide 2020.' Here are some takeaways that we found.
The Financial Wellness Center provides support to students, staff, and faculty with an an array of topics, including: budgeting, credit cards and credit, student debt, investment, taxes, banking, first-time home buying, retirement and more.
Tax season is upon us!
The Financial Wellness Center, the School of Business, and Volunteer Income Tax Assistance (VITA for short) are collaborating to bring individuals who make under $66,000 FREE tax returns! Using Myfreetaxes.com through United Way, this is an easy, safe, and secure way to file your 2019 tax returns. Tax clinics will run through April 15th, 2020. They will be held in the Union Basement Computer lab. Look for the green table sign and volunteers with name badges.
Hours from March 2nd through April 15th:
Monday: 10:15am - 2:15pm
Tuesday: 2:00pm - 6:00pm
Thursday: 8:00am - 12:00pm
Saturday: 8:00am - 12:00pm
Note: The tax clinics will be closed for Spring Break (March 9th - March 14th)
Tips for VP of Student Affairs and Personal Finance Teacher: Jerry Basford
Jerry teaches Finance 1200, a course intended to help students become financially literate in their personal lives. It covers everything from cash management, credit card management, major purchases, insurance, investing and retirement.
Here are some tips from Jerry!
Q: What is your biggest life tip when it comes to money?
A: Don't go into credit card debt! People believe that they need to go into debt to create a credit score. They need t use credit, but they don't always need to go into debt. Get a credit card and pay it off. It will help your credit score by building credit history. My second tip is to use your credit card for online purchases instead of debit cards because if your debit card gets hacked, you are out the money until it gets resolved. If your credit card gets hacked, the bank is out the money until the issue is resolved.
Q: What is your favorite way to budget?
A: My favorite way is to use a customized excel spreadsheet because I believe that budgeting apps let you understand how you spent your money, but they do not teach you how to budget very well.
Visit the Financial Wellness Center today! They are located in the Union in Room 317.