04/25/2024 | Press release | Distributed by Public on 04/25/2024 12:13
Binghamton University students had the opportunity to connect with a Visions Federal Credit Union financial counselor at a free event April 17 at the Fleishman Center for Career and Professional Development. The program gave students a perspective on the financial aspects of negotiating a job offer, including salary research, evaluating total compensation, including benefits negotiation and calculating the cost of living if relocating.
Understanding personal finances not only facilitates current financial management, but also lays the groundwork for future financial stability.
Importance of financial literacy 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 literacy is so important for all, and in many cases, it is extra important for college students because of the changes in their phases of life," Kisloski said. "Having a strong understanding of personal finances allows students to build a foundation that can benefit them for the rest of their lives."
Kisloski said college is often the first time that people are living on their own and balancing expenses.
"As life progresses, it sometimes becomes more complex, so building that financial wellness foundation while still in college gives students the ability to handle their finances with a multitude of accessible resources that are readily available. This often makes the transition into life and finances after college smoother."
Manage Your Money events
The Manage Your Money events at the Fleishman Career Center 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 wellness is to help students build essential skills and obtain information that empowers them to navigate different aspects of their lives successfully," 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.
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