Money 101 is an initiative set out by UWG Financial Aid to educate and aid in financial literacy by offering presentations and workshops for classes and students.
Money 101 offers financial coaching that assists students in areas including budgeting concerns, student loan repayment and future planning. Financial coaching is a fairly new service introduced during the last spring semester by Kendall McCamy, an UWG financial aid advisor and his graduate student assistant, Erica Lee.
“This financial coaching initiative, as well as anything we do, is born out of seeing a need,” McCamy said. “We understand financial coaching is the best practice at other institutions, but we wouldn’t have considered it a valuable offering without recognizing on our own that those needs exist here.”
After having several financial aid meetings with students, McCamy realized that students had interests concerning money other than solely financial aid. Soon a pattern emerged of students wanting to learn about budgeting better, credit and debit, scholarships and the overall ability to have a better relationship with money. Through that, financial coaching was born.
Although McCamy and Lee are not licensed professionals in finance, they dedicate their time to help students reach their goals and understand their value as a student through educational development.
“Part of the education piece is giving students a comfortable space to talk out these grey areas with, to find out how they can match their finances with their needs and their values,” said Lee.
The first free financial coaching meeting focuses on the specific goals a student wants to meet financially and breaks down how he or she can get there. Each meeting is one-on-one and tailored specifically for the student.
“Most people have a tunnel vision when it comes to money and we try to break them out of that. We call it the big why,” McCamy said. “Why are the big whys behind taking charge financially and of your financial future.”
McCamy and Lee work to help students put these skills to use while building a healthy and positive relationship with money. These meetings are provided with the intention of giving students knowledge for them to apply to their future. With financial coaching students can build disciplines that connect to many aspects of life and will set the tone for their future.