Financial wellness is very important for post secondary students success. I propose implementing a mobile budgeting app for students to be able to clearly manage their expenses.
The app will give free access to Humber students who provide their student number to the app. This app can provide visual aids and charts about students financial positions based on the information they input into the app. Students will be able to access the mobile budgeting app through their personal phone devices or any device with internet access.
Mobile budgeting tools have been proven to provide benefits to students who use them. One of these benefits is that a budgeting app allows for a clear visual understanding of a students expenses (“Mohr,” 2011). Another benefit is when students can see their expenses they can better prepare for them in their future. This is because budgeting tools builds confidence when dealing with financial problems (“Mohr,” 2011). One last benefit in regards to budgeting tools is that students can keep track of their unnecessary spending. Allowing them to find ways to save more money and set some aside for emergencies (“Mohr,” 2011).
The mobile budgeting app would work well for the students at Humber College. Humber focuses on wellness-enhancing environments, inclusiveness of everyone and equity based programs (“Social equity and well-being,” 2016). The mobile budgeting app would be accessible to every student at Humber College, assisting each specific student.
References
Mohr, A. (2011, September 12). Budget Basics For College Students. Retrieved from: Investopedia: http://www.investopedia.com/financial-edge/0911/budget-basics-forcollege-students.aspx
Social Equity and Well-being. (2016). Retrieved from Humber: http://www.humber.ca/sustainability/sustainability-humber/social-equity-and-well-being
Financial Wellness 
Things that I like about the proposed resource include the following:
• Its inclusive to all students
• It highlights the issue that students have with money management
• It is made accessible from mobile devices
• Includes visuals to help students better understand
Things that I would like to use more about:
• How will the devise know my information
• Why is this different from any other money managing app
• Other than telling me how much money I spend, will the device teach me how to save? In what ways?
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Thank you for your feedback! You would have to input your financial information initially before using the app. It is not much different from other budgeting apps but, it is designed to give strategies and tips for saving specific to students.
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A mobile budgeting app is an excellent idea. Although not unique, it is something that can be very beneficial to students who have trouble budgeting their money. The app is perfect for a continuously digitally evolving world.
This blog is effective in its messaging. Being able to visualize budgeting in a digital format is important for students who are moving away from traditional pen and paper methods. Also, the app can potentially build confidence in students for long-term budget management. Currently, students are not required to take courses in money management or accounting in high school or in college; so, this app can, in part teach students about budgeting and financial literacy.
The only criticism I have is the unnecessary need to input a student number to use the app. The app should be available to everyone but tailored to students specifically. There are issues of privacy and potential hacking of student’s information. Also, the inputting of a student number will discourage students from using the app.
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Thanks for your feedback! You are right, the student number is unnecessary and removing it would improve the app. Thank you!
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Your proposal for a mobile budgeting app for students is a great idea to help manage finances! Your blog completely outlines benefits for students if they were to use a mobile budgeting app. Many students have access to mobile devices with internet could make use of this app. With the students using an app to manage their finances, they will improve their financial stability for their future Your blog is very persuasive and provides insightful information in regards to your proposal for Humber students and the benefits of a budgeting app. One thing I would suggest is to make a computer accessible app as well. Your blog is concise in your message to persuade Humber to introduce this app for students.
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