Financial Wellness Podcasts + Summaries
Looking for advice on how to navigate daunting financial topics from budgeting to saving money? Check our podcasts created by our Peer Health Educator (PHE) Financial Wellness team!
Shortened version: In this podcast, our Peer Health Educator Financial Wellness team delves into the topic of budgeting and how we can become masters of our money rather than having our money control us. The podcast covers the advantages of budgeting, the process of developing a personalized budget, and strategies that can help you stick to a budget in the long run! Click here to listen to the podcast.
Long version: In this podcast, our Peer Health Educator Financial Wellness team delves into the topic of budgeting and how we can become masters of our money rather than having our money control us. The podcast explores the advantages of budgeting, which includes alleviating financial stress, effectively managing spending and saving with transparency, and being able to set aside funds for fun activities. The podcast then outlines a simple, four-step approach to developing a personalized budget: 1) decide on a budget and its duration, 2) identify your expenses while distinguishing between needs, wants, and irregular costs, 3) prioritize certain expenses over others, and 4) set long-term financial goals to work towards. Concluding the podcast, various strategies are presented to help maintain a budget successfully in the long run. These include shopping consciously with your budget in mind, reviewing purchases regularly, utilizing the envelope system, implementing bill automation, and updating your budget as financial circumstances evolve. Click here to listen to the podcast.
Shortened version: In this podcast, our Peer Health Educator Financial Wellness team dives into the topic of saving. The podcast covers what savings are, its importance, and tips and tricks to save as a student. Click here to listen to the podcast.
Long version: In this episode, our Peer Health Educator Financial Wellness team dives into the topic of savings. The podcast discusses how savings are any income that is not spent immediately, but rather reserved for future use. These funds can be stored in a savings account or even a personal piggy bank. The podcast explores the significance of saving, including its ability to promote financial independence, provide a safety net for unexpected situations, cultivate positive financial behaviours, and contribute to an overall positive mental state. The podcast concludes with revealing insightful tips and tricks for students to save on both non-essential and essential items. These strategies include preparing meals at home, opting for thrifted clothes rather than new ones, optimizing energy consumption during off-peak hours, grocery shopping during student discount days, and opting out of certain student fees that you do not feel are valuable. Click here to listen to the podcast.
Financial Aid Podcast:
Shortened version: In this podcast, our Peer Health Educator Financial Wellness team explores financial aid options for both domestic and international Queen’s students. The podcast covers the value and benefit of financial aid, the diverse types of financial support accessible to Queen’s students, and strategies and skills to effectively search for such aid. Click here to listen to the podcast.
Long version: In this episode, our Peer Health Educator Financial Wellness team explores financial aid options for both domestic and international Queen’s students. The podcast first delves into what financial aid is and how it is used to reduce the costs of higher education. Financial aid can come from federal, provincial, and private sources. Examples of financial aid at Queen’s include grants, bursaries, scholarships, loans, and work-study opportunities. Grant is a monetary endowment often given by the university for a specific endeavor such as overseas studies or research initiatives. Bursaries, on the other hand, are monetary allotments granted to students by the university based on their financial need and contingent upon parental income. The podcast breaks down Queen’s array of bursaries including admission, exchange, and general bursaries. Similar to bursaries, scholarships are not required to be paid back. However, scholarships distinguish themselves by being based on merit rather than parental income. Loans, conversely, involve borrowing funds with the expectation of repaying the funds after graduation. The podcast also discusses the work-study initiative, a program catering to students with financial need by offering preferential access to certain part-time positions throughout the academic year. Furthermore, the podcast sheds light on the Promise Scholar program, an innovative program aimed at diminishing financial obstacles and enhancing entry to Queen’s University for local first-generation students. The podcast wraps up by highlighting scholarships available for international, Indigenous, and graduate students. Click here to listen to the podcast.