Intro by King Musa
"Yo, where it is? You know what it is! It's your man, King Musa! Welcome to Hub Hero, the podcast where we explore the seven dimensions of wellness and how they impact your life here at Stephen F. Austin State University. I'm your host, King Musa, and today we’re diving deep into financial wellness.
Managing your money is crucial for reducing stress and setting yourself up for long-term success. Today, I’m sitting down with Dr. Andrew Dies, Dean of Students, to get real about budgeting, managing debt, and planning for your financial future. Let's lock in!"
Understanding Financial Wellness
King Musa: "Dr. Dies, welcome to Hub Hero! Let’s start with this—what was the last thing you spent a lot of money on?"
Dr. Andrew Dies: "Thanks for having me! The last big purchase? A computer for writing my dissertation. I went with a Dell—no iMac for me."
KM: "Why no iMac though? You know the AirDrop game is different!"
Dr. Dies: "I hear you, but I’m not a creative. I just need to send emails. I’m not spending all that cash just to send emails faster!"
KM: "Fair enough. Now let’s get into it. What exactly is financial wellness and why is it crucial for students?"
Dr. Dies: "Financial wellness is about managing your money wisely—budgeting, planning, and making sure you’re not drowning in debt. College introduces new financial streams—aid, loans, maybe even a credit card from your parents. But how you manage that makes the difference.
One thing I tell students—don’t get a credit card just for the free T-shirt. Credit follows you for life. And don’t take out more loans than you absolutely need. Trust me, Uncle Sam always gets his money."
The Importance of Financial Planning
KM: "Why should students prioritize financial wellness while they’re still in college?"
Dr. Dies: "Because your credit and financial decisions now will follow you for years. If you tank your credit at 19, you’ll feel it at 25 when you’re trying to get a car or rent an apartment.
Credit takes time to repair. Sure, things drop off your report after seven years, but why wait that long when you can make smart choices today?"
KM: "That’s real. I feel like a lot of students just aren’t taught this stuff."
Dr. Dies: "Exactly. We learn about mitochondria but not taxes. We know the powerhouse of the cell but not how to fill out a check or budget properly. And that gap creates financial stress down the line."
The Parent Factor and Financial Aid
KM: "Do you think parents' financial situations affect students more than we realize?"
Dr. Dies: "Absolutely. Financial aid sometimes assumes parents are footing the bill, but not all families can afford to. Just because your parents make a certain amount doesn’t mean they’re cutting checks for you.
That’s why programs like Purple Promise exist—covering tuition for families making under $80,000. Students need to explore every financial aid and scholarship option out there."
When to Start Managing Finances
KM: "When’s the right time for students to start managing their finances?"
Dr. Dies: "High school. But if you missed that, start now. Learn about checking accounts, savings, and retirement plans early. It’s not intuitive for everyone, and that’s okay. But waiting will cost you."
Real-Life Financial Lessons
KM: "Do you think having a job in college is important for financial wellness?"
Dr. Dies: "Yes. Working during college teaches responsibility and gives you extra income. I was an RA, and it paid for my room and board. It was tough at times, but look where it got me—three degrees and a career I love.
Jobs on campus, like at Campus Rec, can give you valuable experience that goes beyond just earning money."
Practical Steps to Financial Wellness
KM: "What practical steps can students take to improve their financial health?"
Dr. Dies: "First, don’t avoid it. Know your limits—if you have $10, you have $10. Budget and stick to it. Skip unnecessary expenses like eating out all the time. Your meal plan is already paid for—use it.
And please, don’t get that credit card for a free T-shirt. We’ve got free shirts at the Dean of Students office—come grab one without the debt."
Finding Financial Resources
KM: "Where can students find financial resources on campus?"
Dr. Dies: "That’s a tough one. The College of Business has programs, but we need to do better. Financial aid offers some guidance, but it’s limited. I’d recommend starting with the first-year experience class, SFAS 1101, which touches on basic financial skills."
Outro by King Musa
"Dr. Dies, thank you for sharing your wisdom today.
To all our listeners, financial wellness is key to your overall success. Use the resources at SFA, start budgeting now, and remember—small financial decisions today can lead to major wins tomorrow.
Subscribe to Hub Hero for more insights on the seven dimensions of wellness. Until next time, stay sharp, stay saving, and take control of your future. Peace!"
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