Looking to Improve Your Finances? Go on a Financial Fast!

If you are looking for a bright start to your financial future, try going on a financial fast. Follow the steps below to make your fast a success!

• Refrain from spending on anything except basic necessities. Resist the urge to use your credit or debit card, opting only to use cash for purchases. Stay committed to keeping your spending in check by breaking the bonds that are keeping you in a struggle with your money; this often takes the form of unnecessary spending.

• Get out of your own way. Stop taking steps or actions that keep you trapped in a financial tidal wave. Spending too much or giving into cultural signs involving “keeping up with Joneses” can derail our efforts to stay financially stable.

• Avoid feelings of entitlement that often get transmitted in the form of advertisements that suggest that we can have anything whenever we want and put added financial pressure on us; “Sale: limited time only.” “Prices will go up on this merchandise next week – act now!”

• Avoid worrying about now having enough. Sometimes, issues surrounding money can be related to general unhappiness about not having what we want; the latest tablet device or power vacuum cleaner that might be outside of your budget right now. One way to combat these feelings of lack is to clean everything in your house, take a long look at your surroundings and be thankful for what you currently have, even if you crave more stuff.

• Create a budget to keep track of your spending. Use a format that works best for you; an Excel spreadsheet is always a good choice. However, if you prefer not to use the computer, track your expenses in a journal. At the end of every day, write down what you spent and compare it to a list that you created that details your monthly and weekly expenses.

• Embrace the power of saving. Even if you just set aside a few dollars per paycheck, setting aside a regular savings can prepare you for unexpected emergencies.

• Work to eliminate debt at all costs; this will invite more peace into your life.

• Take inventory of all of your possessions and the breadth of what you have to avoid falling into the trap of wanting more.

• Peace and serenity is not something you can purchase. Remind yourself of this as you work to gain financial control over your life. The peace and personal freedom that comes with having financial stability is an uncomparable feeling of relief and one that money can’t buy!

For more information on this topic, visit this link.

Priority Registration Is Almost Here!

You have probably had a chance to meet with your advisor to get have your career, graduation and transfer questions answered. You also likely worked with your advisor to identify courses to take this fall.

Now it’s time to register!

Are you worried the courses you need might be full before you get a chance to register? Don’t forget if you are a returning NOVA student you are assigned a Priority Registration date. This will allow you to register prior to the open registration period that begins on 6/5. Priority registration begins on April 10 and runs through May 1. You can find your priority registration date in MyNova by following these directions.

If you don’t take advantage of priority registration prior to May 1, you will have to wait until June 5 to register when the open registration period begins.

Be mindful, if you enroll April 10 through July 26 your tuition payment is due by July 27 at 5 p.m., or your classes may be dropped. Contact ELI’s Financial Aid Specialist with any questions regarding your financial aid application or award. You can call 703-764-5015 or email your questions to elifinancialaid@nvcc.edu. NOVA also offers a payment plan through Nelnet. Click here for more information.

Do you have advising questions? Contact our ELI Counseling Team! They can help! You can call 703-323-2425 or email elicounselors@nvcc.edu for assistance!

Are you Financial Planning for Fall Tuition?

Fall Semester will begin August 22^nd, and the tuition deadline will be July 27^th.  So now is the perfect time to start planning ahead financially for next semester! 

1.  Make sure you submit your FAFSA now!  That will allow you time to submit any supporting documents you need by the May 1^st priority date.  (The priority date for Summer semester is April 1^st, so move quickly if you are attending the Summer semester!) 

2.  Create your own payment plan:

a. Estimate your expected cost of tuition based on how many credits you think you will be taking. 

b. Look up the current cost of tuition for that many credits here:

c. Divide the total by the number of months between today and July 27^th.  (At the time this post was written, that number was five)

d. Estimate the cost of textbooks by including an average of $100 per class

e. Example:  If you are planning to take 15 credits in the fall, the estimated tuition cost if you are an In-State student would be $137.75 * 15= $2066.25 + $500 for textbooks, or $2566.25.  Dividing this by 5 results in a monthly budget of $513.25  (2 classes or 6 credits would be only $205.30 a month)

f.  Create a savings account through your bank or credit union, and arrange to have your estimated amount automatically deposited into your savings. 

By planning ahead, you can greatly relieve the stress of getting ready for the Fall semester and make sure you will be able to acquire the materials you need to be successful in your classes.