March Money Madness
Engaging U presents, “Drexel March Money Madness,” a friendly game that encourages you to adopt healthy financial practices by performing simple account checks and reflecting on your saving and spending habits. We want to help you make your money work smarter and set you on the right path for the rest of the year.
How to Participate
- Download the Player Card [PDF]
- Complete at least 12 activities and mark as complete on your card
- Send your completed Player Card to firstname.lastname@example.org by Friday, April 5th to earn 15 wellness incentive points. We will be working on the honor system: due to the sensitive nature of the activities, you do not need to send proof that you have completed each activity.
Questions? Contact Lindsay Norlen, Director of Organizational Effectiveness, at email@example.com or 215.571.4644.
Player Card Instructions and Resources
The following activities are listed on the Player Card. Some are straightforward (e.g. Check your savings account balance), while some require additional tools and explanation. Access the resources below to complete your March Money Madness activities. Please be aware that some activities require registration through Career Pathway or elsewhere. Registration information is listed for those activities.
- Check savings account(s) balance(s)
- Check checking account(s) balance(s)
- Check retirement account(s) balance(s)
- Check 529 savings plan(s) balance(s)
- Track the maturity of your savings bonds
- Check your credit score
- Check your credit card balance(s)
- Donate to a favorite charity
- Donate clothing/items you no longer use to a local charity
Positioning Yourself for Success
- Attend a TIAA/Fidelity/Vanguard Roth 403(b) session
- Roth 403(b) session attendance in January or February is permitted
- Register through Career Pathway
- Schedule a counseling session with your retirement vendor to discuss your goals and investment strategy
- Invest in yourself: register for a professional development opportunity
- Opportunities through Career Pathway
- Professional organizations in your field
- Study for a certification specific to your field
- Organize your financial life: what accounts do you have, organize/shred financial paperwork, set up a bill-paying station, etc.
Passing the Buck
- Educate the kids in your life about healthy financial practices
- Savings vs checking accounts
- Walk through your household budget
- Smart credit card use
- Importance of retirement planning
- Open a savings account for a kid in your life: many banks offer special programs for children that offer higher interest rates and additional incentives for saving
- Open 529 savings plan(s)
- Collect loose change and deposit in savings account: you’d be surprised how quickly your loose change can add up! Check your pockets, junk drawer, car, purse, and even the couch cushions.
- Investigate refinancing your mortgage
- Optimize your savings/checking accounts
- Start a 52-week savings plan
- Resource: https://www.thesimpledollar.com/hacking-the-52-week-money-challenge/
- Investigate credit cards with lower interest rates
The Big Picture
- Calculate your net worth
- Calculate your net debt
- Identify your spending triggers to curb impulse buying
- Create a budget
- Set financial goals: short term, mid-term, and long term