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What Does Money Management Mean?

Last updated on October 9, 2019

Do you need help working through the day-to-day of budgeting and money management? What about developing a long-term financial strategy and goals? Look no further: Transformance is here to help.

What is Money Management? Is it Important?

Money management is all about knowing where your money is going and creating a plan for where you want it to go in the future. Whether you’re saving for a big purchase, trying to get out of debt or just trying to make it on a day-to-day basis, everyone needs some sort of money management skills.

Why Money Management is Important for College Students

There’s no way around it: money management can be tough. And if you’re struggling to manage things like credit card bills, utilities or rent, it can make it even harder to stay in school. Through Transformance, you can take advantage of some of the following free services as a DCCCD student:

  • Financial counseling/coaching: you can get one-on-one help from a certified counselor. They’ll help you learn how to budget for both long-term and short-term needs, as well as teach you strategies for how to get and/or stay out of debt.
  • Financial workshops/webinars: choose from short online and in-person workshops to learn more about managing your credit, saving for future goals, getting out of debt and more.
  • Added bonus: For income-eligible students, Transformance will help you learn to save money each month through a financial accountability program called A.I.M. (Accountable-Inspirational-Motivational). For every dollar you deposit into a special savings account, the program will match your deposit up to $25 per month with a $300 annual maximum. Part of A.I.M. program requirements include making monthly deposits and completing a monthly touch point with your counselor through counseling sessions, coaching sessions and education classes.

How to Get Started Learning Money Management Skills With Transformance

Call 214-540-6837 to discuss enrollment in the program and to schedule a counseling session. (Be sure to mention that you’re a DCCCD student!) During the first counseling appointment, Transformance will confirm client information, intake data and pull a credit report.

Next you’ll complete a financial assessment to establish monthly expenses and to work on balanced budgeting. You should expect to leave the first session with a savings plan, an action plan, your credit score, a budget and prioritized goals to help ensure success.

Where is Transformance?

Transformance is open 8 a.m.-7 p.m Monday-Friday and is located at 8737 King George Drive in Dallas.

More Info About DCCCD

Published inPaying for College