Financial Literacy

Earning is a big part of financial literacy as you cannot create a budget or set a savings goal without first accounting for the money that you bring in. Income is a big part of earning and one must understand ways to make income and factors that influence income.

A big step in finding a livable wage is determining a career that best fits you, your skills, and your values.

Schedule an appointment with Career Services to learn more about what careers fit you best, determine the skills needed for those careers, or get assistance creating an attractive resume. 

Saving is important whether it's for an emergency, a house, retirement, or to pay off debt. A rule of thumb that financial experts recommend is to save at least 3 months of your living expenses for emergencies and 10% of your income for retirement. 

Take the time to explore savings tips and tricks and learn ways to save money that fits your personal financial goals.

• How to Save Money: 23 Simple Tips
• 50 Ways To Save Money In College And Live On A Tight Budget
• 31 Money-Saving Tricks for Students

Protecting your finances is just as important as earning it and saving it! When your personal information falls in the hands of the wrong person, you are increasing your chances to become a victim of identity theft.

According to Experian, identity theft complaints top the list of fraud reports that the U.S. Federal Trade Commission (FTC) received in 2021. Out of 5.88 million fraud reports, 24% or 1.4 million, were identity theft related.

Tips to help prevent identity theft:

• Keep all personal information safe such as your social security number, account numbers, and credit and debit cards
• Make sure to regularly check your bank and credit card accounts for suspicious activity and always report it to your financial institution
• Always have a passcode on phones and electronic devices in case it is ever lost or stolen
• Be aware of phishing scams, such as phone calls, texts, and emails from suspicious senders; Always verify legitimacy before responding or clicking on links sent to you

Explore ways to prevent identity theft and know the signs to look out for to manage your risk of being a victim of identity theft.

• Identity Theft: What It Is, How to Prevent It, Warning Signs and Tips
• How Can I Better Protect Against Identity Theft?

Borrowing money, such as student loans, to pay for college tuition and expenses is a common option for many college students. However, any kind of loan is considered debt and must be paid back.

According to Education Data, student loan debt in the United States totals $1.745 trillion dollars. Therefore, it is important to know how to responsibly manage student loans.

*Use the Loan Simulator Calculator to explore the impacts of borrowing student loans and the different repayment options available to you.

Contact VC’s Financial Aid Office to learn more about financial aid opportunities to assist with various college expenses.

Budgeting can be tough as you are trying to guide your way through college, but there are many tips and tricks that can help you stick to a budget.

Here are a few budgeting resources to get you started on preparing a budget that best fits your financial situation:

• Free Student Budget Calculator
• Budgeting 101: How to Budget Money

According to College Finance, college students and millennials, both said that dining out was the category most likely to break their budget.

Be sure to check out our new Free Food Calendar that provides any free food opportunities happening around campus to reduce food expenses, as well as increase your involvement and build connections throughout your time at VC.

If you are in need of any additional funds or resources, contact VC’s Support Services to discuss the resources available to you.

In partnership with Frost Bank, Victoria College will be hosting free financial literacy presentations open to all currently enrolled students. These presentations will promote healthy financial wellness and better prepare you for your personal financial journeys. Lunch will be provided for all attendees. Please register using the links located next to each presentation.

Spring 2023 Series Presentations – All presentations will be located in VC's Financial Aid Office, located in the Student Services Building, Suite 108 (Building #8 on VC's Campus Map).