Financial Empowerment Initiative

In 2023, CEW+ embarked on a new endeavor to promote the financial well-being of the U-M community through the Financial Empowerment Initiative (FEI). Developed in coordination with over 21 units across campus, the Initiative launched a series of pilot workshops in Fall 2023 guided by the expertise of financial therapist Lindsay Bryan-Podvin, LMSW.

While most financial wellness efforts focus on technical aspects of financial literacy, the FEI series delves into the underlying psychological, social, and intergenerational roots that underlie individual financial choices. By filling these gaps, participants become equipped with the self-knowledge and tools to be empowered to take charge of their own financial well-being.

FEI participants come from all campuses and have a range of backgrounds and identities. Participants include working students, people of color, those from lower-income backgrounds, and first-generation college students. Feedback on the series has been overwhelmingly positive with over 95% of participants agreeing it was a good use of time and 88% having gained a better understanding of their relationship to money. Many participants report feeling better about their financial situation and more confident with their money management after attending FEI workshops. They were also 30% less likely to question their ability to succeed. FEI empowers students, faculty, and staff with the tools to achieve financial confidence.

“I feel more confident in my money journey knowing that I have control over the future of my story instead of having the past dominate so much.”

“Learning more about the intersection of psychology and financial decisions will help me make better choices in the future.”

“I am not alone when it comes to financial anxiety and uncertainty.”

1. Conceptualize social impacts on financial feelings

2. Acknowledge psychological aspects of financial wellness

3. Understand & regulate emotional responses to money

CLICK HERE TO REGISTER FOR WORKSHOPS

FEI Workshop 1: Your Money Story

A person’s money story shapes their thoughts and decisions about earning, spending, and saving money. Of course, family shapes one’s money story, but their school, community, traditions, and so much more influence it, too. In this interactive workshop, participants will get curious about where their money beliefs come from, hear from their peers about what they think about money, and learn how to rewrite a money story that helps start to create a healthier relationship with money. By the end of this workshop, students will be able to make more discerning financial decisions and improve control of their financial future.

FEI Workshop 2: Making Confident Financial Decisions

It’s pretty common for students to feel overwhelmed when it comes to making financial decisions. But just because it’s common, doesn’t mean it’s ok. This workshop will help students learn how to dial financial confusion so they can start making money-related decisions with confidence. Attendees will learn why making money-related decisions can cause so much stress, how to deal with financial choices (and if it’s working), and various ways to dial down the discomfort to start making money decisions with more confidence.

FEI Workshop 3: Ultimate Financial Wellness

We all know about the importance of self-care, but have you ever thought about financial self-care? Financial self-care is any individual act that helps you feel better about your relationship with money, including dealing with the emotions and feelings that come up when you interact with money. In this interactive workshop, you’ll learn how to identify what uncomfortable feelings arise when you engage with money, get curious about where they come from, learn how to find more emotional resilience and brainstorm ways to practice financial self-care with your peers. 

FEI Workshop 4: Caring for Your$elf

Budgets, interest rates, and credit scores sound dry, boring, and a little overwhelming? You’re not imagining it. Most financial literacy content focuses on the dollars and cents and omits the very real emotional, psychological, and systemic reasons money stuff feels so dull. But? It’s good stuff to know, and we rarely get the opportunity to learn about it in a shame-free space where every question is valued and honored. In this interactive workshop, you’ll learn why traditional budgeting doesn’t work, understand some of the personal finance terms you’re bound to come across and learn how to make meaningful financial goals. 

FEI Series Workshop 5: Be the Boss of Your Finances

Have you had to turn down an invite to go out with friends because you can’t afford it? What about telling your family you actually can’t send money home? Or explain to your friends in the lab that you don’t want to spend money on a pizza dinner? It can feel awkward and uncomfortable to say “no,” but it’s an important part of using your money in a way that works for you. Financial boundaries are guidelines you put in place to help you say “no” with confidence and “yes” with enthusiasm. In this interactive workshop, you’ll learn the importance of boundaries, how to create and honor financial ones and toss the ones that don’t match your unique circumstances.

CEW+ Financial Empowerment Initiative (FEI) Series workshops are provided at no cost to Units, Departments, and Student Organizations. Please allow a minimum of 3 weeks lead time when requesting workshops.

Click here to request a workshop for your group.

Contact [email protected] or call us at 734-764-6360.