April is National Financial Literacy Month.
Marty Pennington, The University of Toledo’s financial wellness counselor, is available to help year-round.
Marty Pennington, The University of Toledo’s financial wellness counselor who serves as a UToledo ambassador of financial literacy in area high schools and nonprofit organizations, meets with students at Notre Dame Academy monthly.
A UToledo alumnus who received his bachelor’s in business management in 2020, Pennington has served in this role for more than a year in Rocket Hall Room 1850.
“It was apparent that navigating the world of higher education for students and their families is challenging and can be overwhelming, especially on the financial side,” he said. “The thought was that the University and our students and their families could benefit from having free and easy access to a counselor to help them achieve financial wellness.”
Families often have questions about the financial side of a student’s college education, he said, including: What is the overall cost of a college degree? What are the general living costs for a college student? And how can a family plan and pay for those expenses?
“I want to get the information to them ahead of time so that they will be able to handle those moments down the road when something arises that they didn’t plan on,” he said.
While the role of financial wellness counselor is separate from the financial aid office, both complement each other, Pennington said.
“When I meet with students, I’m prepared to answer any questions related to personal finance, so naturally the topic of paying for college does come up,” he said. “During those moments, I help by walking students through their options when it comes to covering the cost of their education, so that they could have a solid plan put in place. If the conversation would be led to specific questions regarding financial aid, students would then be referred to speak with Rocket Solution Central for assistance.
“Money is one of those taboo subjects. It’s hard to admit, ‘Yeah, I need help with this,’ or ‘I need guidance with this.’ But that’s OK. There’s no shame in having someone help you with that,” Pennington said.
Perhaps his most important job, Pennington said, is serving as a UToledo ambassador of financial literacy in area high schools and nonprofit organizations, including monthly lessons with students at Notre Dame Academy with topics like building a budget, managing money, credit and debt.
“My main focus is to be around the community and talk about college, and also give general personal financial lessons,” Pennington said. “The hope is that as this awareness spreads that we become more valuable and partner with more and more different groups and serve as a resource to them.”
For more information or to schedule an appointment, visit the Financial Wellness website, or contact Pennington directly at 419.530.6265 or martin.pennington@utoledo.edu.
