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Money Monday (1)
By Imagine Scholarships
Sherri Ross
January 13, 2025
🌟 Welcome to this week's Money Monday! A few of our links were incorrect in the last email.
Happy New Year and Thank You!
We hope your year is off to a fantastic start! 🎉 Thank you for the incredible support you’ve shown Money Monday. We love being part of your journey and helping you find success academically and financially. This week, we’re diving into how to set SMART financial goals to make 2025 a year of progress and achievement.
Every goal starts with a dream, but turning that dream into reality takes a plan. Let’s build that plan together!
Theme of the Week:
"Setting SMART Financial Goals for the New Year"
Financial success doesn’t happen overnight—it starts with goals that are Specific, Measurable, Achievable, Relevant, and Time-bound (SMART). Here’s what each step means:
Specific: Define your goal clearly. (“Save $500 for college textbooks.”)
Measurable: Track your progress. (“I’ll save $50 each week.”)
Achievable: Set a realistic goal. (“I can do this by cutting back on eating out.”)
Relevant: Make sure it aligns with your bigger goals. (“This helps me graduate debt-free.”)
Time-bound: Give yourself a deadline. (“I’ll save $500 by April 1.”)
Let’s apply this to students saving for college, parents budgeting for the year ahead, and educators helping their students plan for success!
Words of Wisdom:
"Failing to plan is planning to fail." – Alan Lakein
This timeless advice reminds us that intentional planning leads to real success. Take time this week to turn your financial dreams into actionable goals!
For College Students:
Are you ready to take charge of your finances in 2025? Start by setting a goal to build a monthly food budget that balances dining out and cooking at home.
Here’s how:
Use apps like Mint or YNAB to track spending.
Limit eating take-out/in a restaurant to twice a month.
Cook affordable, healthy meals at home.
đź’ˇ Resource: See how quickly you can do the $1.00 savings challenge
đź”— Explore Scholarships to offset tuition and living costs.
For High School Students:
Your college dreams are closer than you think! Start small this year by saving a percentage of your allowance or part-time job earnings for future expenses.
Here’s how:
Open a savings account or use a money-saving app like Acorns.
Set a goal to save $20-$50 per month for college expenses.
Challenge yourself to skip unnecessary purchases (like that $6 coffee).
đź’ˇ Resource: See how quickly you can do the $1.00 savings challenge
đź”— Check Out Imagine Scholarships for high school students!
For Parents:
2025 is the perfect time to set a family financial plan for your student’s education. Whether you’re saving for tuition or planning college visits, every step counts.
Here’s how:
Create a family budget using tools like Google Sheets or budgeting apps.
Dedicate a portion of monthly income to a college savings account (like a 529 plan).
Encourage your student to contribute by saving part of their earnings.
💡 Resource: Our eBook, “Financial Literacy Guide,” is packed with tips for families.
đź”— Discover Scholarships Now to make college more affordable.
For Educators:
Help your students make 2025 their best year yet by introducing them to financial literacy concepts. You can start small by teaching them how to set SMART goals for savings.
Here’s how:
Incorporate a lesson on budgeting and savings into your curriculum.
Use real-life examples of students who set goals and achieved success.
Challenge your students to set one financial goal for January.
Quote of the Week:
"A goal without a plan is just a wish." – Antoine de Saint-Exupéry
What’s your plan for turning your financial wishes into reality this year?
Resource of the Week:
SMART Goal Worksheet
This easy-to-use worksheet will guide you in creating and tracking your financial goals for the year.
Fun Fact of the Week:
"Students who plan their college expenses using a detailed budget are 30% more likely to graduate debt-free!"
Start planning today for a brighter tomorrow.
Challenge of the Week:
Set one SMART financial goal for January and take the first step toward achieving it. Need ideas? Start by saving $100 or tracking your spending for a week. Let us know your progress by replying to this email or tagging us on social media!
Scholarship of the Week: STUDENTCAM
StudentCam is C-SPAN’s annual national video documentary competition that encourages students to think critically about issues that affect our communities and our nation.
In this presidential election year, they’re asking students in grades 6-12 to create a short (5:00-6:00 minute) video documentary on a topic that relates to the competition theme, “Your Message to the President.”
The submission deadline for all entries is Inauguration Day on Monday, January 20, 2025.
C-SPAN awards cash prizes totaling $100,000 to the student filmmakers of the top 150 student documentaries.
This annual competition is open to all students in grades 6-12. Grades 6-8 compete in the Middle School category, and grades 9-12 compete in the High School category. Students may enter individually or in small groups.
đź”— Learn More Here
Meaningful Story:
Meet Sarah, a sophomore who saved $2,000 in her first year of college by setting SMART financial goals. By budgeting her living expenses and applying for scholarships through Imagine, she’s on track to graduate debt-free. Sarah says, “Planning my finances gave me the freedom to focus on my education without the stress of debt.”
Thank you for making Money Monday part of your week! We’re here to help you succeed with actionable tips, inspiring stories, and practical resources. Click the links above to explore tools and opportunities designed just for you. If you’d like personal support, I’d love to connect with you.
Here’s to a year of growth, success, and achieving your goals!
See you next Monday!
Cheering you on,
Sherri Ross
P.S. If you’re ready to find more scholarships, streamline your college application process, and make smarter financial decisions, check out Imagine Scholarships. It’s a game-changer, and we’re here to support you every step of the way. We also have courses and other resources waiting for you here. Reply to this message or email [email protected] if you have questions about signing up your group. As the leading platform for scholarships, college, career, and life readiness, we connect you to scholarships you can actually get with expert guidance to make your educational journey simple and easy.
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