February Newsletter

Read on for the February 2024 newsletter content

February Goals

By the end of February, mentees will have:

Action Steps

February is a great month for mentors and mentees to check in with each other regarding where mentees are at. Discuss the following questions together and decide on next steps. Consider how your mentor can continue supporting you in making progress. Need more tips on this? Review our previous newsletters.

These are some good questions to consider:

  • Which career path are you leaning toward? If you’re unsure, what would help you feel more confident in making that decision? We are here to help you, and the Discover Pathwaze is a helpful brainstorming resource (reach out to Angela or your Mentoring Specialist to learn more)
  • Which colleges have you applied to? If you have applied to larger, private, and state schools have priority deadlines in January/February. Get those applications in as soon as possible.
  • Have you completed the CASFA or FAFSA? You can talk to Angela and review our January newsletter for more info on this process. The goal is to have the FAFSA completed by March 1 since that is the priority deadline for most schools (i.e. this is how you make sure you get as much money as you are eligible for). There were a lot of glitches in January due to the newly-revamped FAFSA form, so reach out with questions.
  • Have you looked into and applied for and additional scholarships? Review the January newsletter for more info.
  • Do you want to do any campus/college visits? Job/career shadowing? Talk with your mentor to see about setting something up. Reach out to Angela if you need help connecting to someone.

Budgeting 101

Two of the most important skills for adulthood are figuring out how much life costs and making sure your needs are met. I’ll address the basics here, but if you want more in-depth perspectives on money, saving, practice budgets, bank accounts, or going through a financial course; let your Mentoring Specialist know.

What Is Budgeting?

There is a misconception about budgeting. Many people associate budgeting with being cheap or frugal. In fact, it’s the opposite. A budget is a plan for your money. You will tell your money where to go whether it is to pay for gas, coffee, or your cell phone bill.

Budgeting Resources

Questions to Ask

A few good questions you can discuss as a match:

  • What do you think of when you hear the word “budget”?
  • Is having a budget good or bad?
  • What does it mean to “spend within your means”?
  • How do you prioritize your spending?
  • How do you decide what to spend your money on?
Needs vs. Wants

How do you determine wants versus needs?

How to Budget

Read this article together as a match. Click on the links in it that interest you!

Application Activity Options

You can do all of these action steps. At least choose one!

  1. Find a budgeting system that works for you (check out #3 in this article)
  2. If you are on social media, find appropriate finance content creators to follow.
  3. Practice making a budget. You can use a template if that’s helpful. Wondering which expenses to track? Either use actual expenses and income you currently have or map out what future costs may be. Your mentor is a great resource in learning what some things cost.
Mentors - How You Can Relate

Mentors, whether it’s been five years or 50, you likely remember the uncertainty of new adulthood. One way you can help your mentee is by sharing your own journey to independence in an area that your mentee is finding particularly difficult.

A few examples are:

  • Setting up a checking and savings account  
  • Taking care of your physical health–medical professional visits  
  • Mental health–seeking out resources  
  • Housing–renting, applications, roommates  
  • Registering for classes–if school is desired! 
  • Choosing a job or career