From behind, you hear a cough. Not just a sniffle and a clearing of the throat, but a full-blown, hacking cough. The kind that makes your brain tell your legs to walk a little faster away from that noise. The last thing you need right now is to get sick.

As college students, health is a high priority. We work out. We take our vitamins. We eat healthy (sometimes). Getting sick only makes doing homework and going to class harder.

But there’s a different kind of health all college students should pay more attention to – a health that will stay with them longer than a few days or a week. It’s the health of their finances, and it will matter for the rest of their lives.

Financial wellness is what Dean Obenauer, assistant director of Financial Aid, is promoting at Creighton. The position he holds was implemented on July 1 to help students understand their finances – not just their financial aid packages concerning paying for college.

The Creightonian sat down with Obenauer to discuss financial wellness and what students can do to make their finances more stable in an unstable economy.

What is financial wellness?

The technical definition, according to the government accounting office website, is the “ability to use knowledge and skills to manage money effectively.” It’s developing behaviors and skills to be more aware of money matters.

I don’t want to pound into students one way to set up a budget, but hey, here are some tools, such as a spending plan, to figure out income and expenses.

How should students determine whether they’re financially secure or not?

What do you like to spend your money on? What do you like to do? If there’s money left for that, then you’re in a good situation. Transferring money from one credit card to another to pay it off is probably not a good sign.

Do you pay your bills on time? Do you wait and pay them the following month? Are you getting collection calls? Those are signs you need to make some changes.

Are credit cards a good option for students?

Credit cards are more like a loan. You have to have a way to pay that back. Are you behind on payments? Do you swipe that card without thinking about it? That’s my motto: think twice before you swipe.

What do Creighton students need to know about their financial well-being?

They need to have a clear handle on what kind of income they have, if they have scholarships or financial aid. You need to know what you have coming in and know what you spend your money on.

Someone who hits the vending machine for Diet Pepsi, that’s three bucks a day if you’re getting two Diet Pepsis. That’s 15 bucks on Diet Pepsis a week. If that’s a priority, then that’s OK. Just be aware of what you’re spending. The little things really add up.

What is the most important thing students can do to be financially secure?

You don’t need a lot of money to be financially secure; you just have to have a plan. Always put things in savings. That’s a great start on getting a handle on everything else that follows.

“Finance” is a dirty word for a lot of people. Is there an easy way to keep track of finances that won’t get people bogged down?

This is something you have to sit down and make time to think about it and make time to do the math. If you don’t have a budget worksheet, track your expenses or save your receipts. Write them all down maybe once a week and then figure out what you’re spending.

It’s just a mindset where a lot of people just don’t want to deal with it, and that just doesn’t work. Take 30 minutes a week to get a handle on it. Ask yourself what else you can change.

Are there financial issues college students should be more aware of that are specific to them?

For so many students, because they’re so busy with school, they’re totally aware they’re taking out student loans but haven’t paid attention to the payment plans on them. All of a sudden they have $25,000 in loans. There are all kinds of repayment plans; don’t stress about it. Those payments can be stretched out over 25 years, even. Make sure you include student loan payments into all those other payments you make each month.

Many college graduates want a new car, a new apartment. Student loan payments could be as much as a new car and must be calculated into their expenses. Distinguish between what you need and what you want because you’ve been going without it. You don’t need it all right now.

What advice do you have for students and those who are graduating soon?

If I had one bit of advice, it would be just to be aware and realize how you spend your money. Is it something you really need to do or you just want to do it? And then always to save. Save what you can, because if an expense comes up you don’t have to borrow for that expense. Save for the unexpected because it always happens.

Keeping track of your expenses isn’t something you have to do alone. There are many resources out there to help you along the way to financial security. Here are some suggestions:

Bankrate.com has comprehensive financial information.

Mappingyourfuture.org has a 12-step guide to financial success.

Mint.com lets you track your expenses and plan a budget.

Obenauer is available for private meetings with students or group meetings. To set up a meeting, contact him at

[email protected] or call him at 402-280-2731.