Why is learning about your money important?

Pam Fowler
It's easier to begin healthy habits than to fix bad ones. That goes for personal finances as well as other facets of life.
Try to get into a budgeting rhythm when you have control and not when it is forced upon you by your circumstances.

Starting now will put you on the path to a financially secure future. This website is a tool designed to offer you details about basic personal finance, laying the groundwork for your years in college and beyond. 

We also offer links to favorite personal finance websites and tools, basics about financial aid from the U-M Office of Financial Aid and ongoing news of interest. Explore the information provided here to find out about basic budgeting, investing and the everyday pressures of college and how they affect your financial life. 

We're here to help. Remember, this is your money and your life.

-- Pamela W.Fowler, Executive Director, U-M Office of Financial Aid
 
Strategies to strengthen your resolve and finances

Dreams are possible if you are savvy about managing your money. The process: Set a goal, make a plan and take action. 

What’s at stake? Money, time, energy, family and friends. Prioritize everything and stick with your plan.

Goals take several forms: short-term, intermediate-term and long-term. Short-term goals equate to three months or less, intermediate are usually reached within the year and long-term goals are plans for those of more than one year. Make your goals meaningful and write them down so you can see them often and integrate them into your everyday life. 

Visit the Personal Finance Topics at the top of this page to explore tips about budgeting and managing your money.

-- Kristin Bhaumik, Assistant Director for Special Programs, U-M Office of Financial Aid

Personal Finance Blog

  • Report looks at student, family choices in college Consultants Pricewaterhouse Cooper recently released a white paper looking at the college costs and the impact student loan debt has on the future lives of young adults. "Families should approach ...
    Posted Apr 21, 2017, 6:29 AM by Your Money Your Life
  • Completing your 2017-18 FAFSA without IRS Data Retrieval The U.S. Department of Education and the Internal Revenue Service halted the use of the IRS Data Retrieval Tool, commonly used by to complete the Free Application for Federal ...
    Posted Mar 23, 2017, 7:15 AM by Your Money Your Life
  • Student loan defaults may get pricier Detroit Free Press personal finance columnist Susan Tompor discusses a recent Trump administration policy revision that will allow debt collectors to charge double-digit collection fees on defaulted federal student ...
    Posted Apr 21, 2017, 6:10 AM by Your Money Your Life
  • 5 ways to make college more affordable Pledge to save and reach your debt reduction goals at America SavesBy Tammy G. BruzonAmerica SavesThe value of a college degree isn’t what it used to ...
    Posted Sep 13, 2016, 1:23 PM by Your Money Your Life
  • Federal agencies join forces to protect student borrowers The U.S. Department of Education has announced further action to support the more than 40 million Americans with federal student loans. This is a joint effort with he U ...
    Posted May 5, 2016, 8:10 AM by Your Money Your Life
  • There are apps for getting your finances in order As more and more of us move to our phones and tablets for everyday business, app developers are adding ways for us to save money and manage what we have ...
    Posted Apr 22, 2016, 8:55 AM by Your Money Your Life
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