Spend Well

Manage Your Money, Manage Your Life

Mission: Build a financially astute student population.

Why is Spend Well important to health and wellbeing?

According to the CapitolOne Spendwise Survey, 73% of Americans rank their finances as the most significant source of stress in their lives. Regardless of income, learning the principles of smart financial decisions will make a positive impact on every aspect of your life. Poor financial management may reduce your overall wellbeing and may end up costing you more than just money.

Highlights

  • Through the leadership of Jason Tomlinson, Vice President for Finance and Administration, TWU established the Student Financial Literacy Department, naming Chalese Connors as director. After extensive research and planning, this department became the Student Money Management Center and opened in August 2021.
  • Institutional Membership in the Texas Association of Collegiate Financial Education Professionals (TACFEP)
  • Institutional Membership in the Higher Education Financial Wellness Alliance (HEFWA)
  • The CARE Department has offered varied financial programming to students, including CARE talks Cash over Coffee; Care talks Cash-Budgeting tools for success; Get Your Life Together, and financial wellness discussions during student orientations.
  • Student Life, in collaboration with Institutional Development, has developed financial crisis management processes including student emergency scholarships. 
  • On the Dallas campus, the Financial Aid Department implemented Financial Literacy Week offering scholarships as incentives for student participation.
  • Receiving grant funding for support, the Department of Diversity, Inclusion, and Outreach has established the Mobile Go Center which aids students in the completion of college applications and FAFSA/TASFA.
  • Multiple courses have included assignments specifically targeting the mission of Spend Well. Some of these include:
    • KINS 1902, Fitness & Health, Enhanced Personal Wellness: financial education component was added to the curriculum to demonstrate the tie between finances and health
    • MATH 1013, Financial and Quantitative Literacy: added an assignment using the a free online budgeting tool
    • FIN 2153, Fundamentals of Money Management: This course, now offered in the TWU Core Curriculum, provides students with critical information that impacts human financial behavior for individuals as well as society. This course seeks to address the wellness of society through financial education and understanding money decisions that have an impact on the household.
    • UNIV 1231, First Year Experience: a financial literacy module was added to this course in Fall 2020 and introduces students to free online budgeting resources.

Committee Members

  • Richmond Reyes, Co-Lead, Teaching & Learning with Technology, Coordinator of Compliance & Professional Development
  • Pamela Baker, Co-Lead, College of Business, Professor
  • Jessica Burchfield, Campus Alliance for Resource Education, Associate Director
  • Chalese Connors, Finance & Administration, Director of Student Money Management
  • Megan Burke, College of Business, Assistant Professor
  • Launey Griffith, University Advancement, Director of Development Arts & Sciences

Spend Well Projects

  • Develop a Speaker’s Bureau and curriculum related to financial education that can be utilized by TWU faculty and staff
  • Increase student dialog around financial wellbeing, including a marketing campaign and programming such as Feminist Finance

Goals for 2021-2022

  1. Make undergraduate and graduate students on all three campuses aware of financial wellness programs and Student Money Management Center. 
  2. Complete and distribute short videos through social media about financial topics and earn 20 likes per video.
  3. Schedule speakers on financial topics. Market and assess their presentations. a) September 2021 - Investments with SEC Speaker
    b) October 2021 - Student Loans
    c) Spring 2022 - Personal Budgeting

Student Organization Champions

These student organizations reflect and support the overall mission of Spend Well:

  • Accounting and Finance Society
  • IMA/CMA – TWU Chapter
  • National Association of Black Accountants

Page last updated 3:24 PM, September 14, 2021