43% of Nebraska students have no emergency funds to cover unexpected expenses, such as car repairs, unexpected travel, and loss of income. In addition, overspending and paying off debt are two common concerns that students have, as 42% of Nebraska students who use a credit card report that they do not pay off the full balance each month. To help with these concerns, Big Red Resilience & Well-Being now offers free peer financial coaching for students.
Peer and staff financial coaches are available to meet with students to help them develop better financial habits, such as saving for an emergency fund.
Students can easily schedule appointments online and choose which coach they would like to meet with. Five undergraduate and graduate students have been trained to work with students on a variety of topics, including making a budget, creating financial goals, and developing a debt repayment plan. The peer financial coaches also are trained as well-being coaches, and will be able to help improve students' financial well-being, which also positively impacts the other 9 dimensions of well-being.
Students can visit the Student Money Management website to make a financial coaching appointment and to access resources: go.unl.edu/unlsmm
To learn more about well-being coaching, visit the Big Red Resilience & Well-Being website: https://resilience.unl.edu/peer-coaches