Save Smart

Photo: Close-up of a piggy bank with a one dollar American bank note

Financial wellness is important for anyone to reach their goals. When your finances are in order, the rest of your life can seem manageable. On the other hand, when your finances are not secure, it can make life seem overwhelming. Financial planning is the process of meeting your life goals through proper management of your finances. Below you will find programs, tools and resources to guide you to make smart financial decisions.

Financial Basics

There are five common principles that make up the pillars of personal finance. Knowledge of these concepts, coupled with discipline over time, will help you make today’s money decisions and plan for a strong financial future. For complete information and resources on financial basics, visit Syracuse University Office of Financial Literacy.

  1. Don’t Buy Stuff You Can’t Afford — Done wisely, borrowing money can help you establish and build credit. However, interest, fees, and over-borrowing can be detrimental to your financial future.
  2. Give Every Dollar a Job — When it comes to spending, having a plan and shopping for the best value can make a big difference to your bottom line.
  3. Understand Your Future Salary — Income is your greatest wealth-building tool. Making smart decisions with your money starts with being knowledgeable about your pay and benefits.
  4. The Best Defense is a Good Offense — You can protect your wealth and reduce financial stress by building an emergency fund, protecting against identity theft, and having proper insurance coverage.
  5. Pay Yourself First — Kick-start your financial future by saving early and often. It’s never too soon to put away money for a home or retirement.