Articles Posted in financial wellness

stockfresh_636353_stethoscope-laying-on-stacks-of-money_sizeS-300x200We are coming to the end of the year, and many people are more concerned about credit card balances than other expenses. We understand that Christmas is the season for slapping the plastic around, but gift buying is only one concern. Additional costs can train wreck a family budget, and one of these is medical costs. These may require some creative management strategies.

Paying The Bill Continue reading

stockfresh_5532754_home-mortgage-concept_sizeS-300x300There is still a lot of activity in the American real estate market, and prices are projected to keep rising in some markets well into 2022. House buyers do not want to wait and want to get that home of their dreams. One significant challenge for someone who never bought a home is understanding the real estate market. Buying a house is not as easy as purchasing a pair of shoes.

You Pay Dearly for What You Do Not Know Continue reading

 

stockfresh_2912650_what-do-i-do-now-thinking-person-thinker-question_sizeS-297x300The idea that young employees live a carefree life is a fantasy. These folks are learning to adjust to life outside the dormitory that is not always easy. Managing money is a stressful challenge for them.

 

It is not because they are not making enough money. On the contrary, those who have high-tech skills are doing rather well. They can afford to move out of their parent’s house, but they often run into financial troubles. Recent developments are causing many to deal with a double whammy.

 

The eviction moratorium is lifting, and those who forgot to pay rent face sizable debt. The same is true for college debt, and lenders want their money as soon as possible. Some young employees get into bad spending habits and rely too much on credit cards. That type of obligation charges double-digit interest rates, and the hefty balances are not getting any smaller. Financial wellness is moving from being a problem to a crisis. Continue reading

stockfresh_1104622_falling-credit-cards_sizeS-300x200It is beginning to look a lot like Christmas if you believe in retail stores. Some are starting to get the decorations out and are planning their holiday campaigns. It is a time of love and giving. But unfortunately, Christmas is also a time when credit cards get maxed out.

Folks have a hard time saying “no” in December, which will get them in financial trouble. They may already be stretched to the limit on their plastic. Credit card balances, and the interest charged on those figures, can wreak havoc on anyone’s finances. Paying those bills adds to the stress and anxiety of many employees. Continue reading

stockfresh_6378534_financial-freedom-concept_sizeS-300x192We have all faced some tough times recently, but not all of us are in financial trouble. Many are being paid a good wage and can pay their bills. They are not the ones who desperately need help, but they do appreciate some guidance. An employer gains employee loyalty when that assistance is provided.

Helping the Workers

Generation Z wants to be financially responsible. Their challenge is that they do not know what to do. Younger people try to create budgets but sometimes get lost in the figures. Older employees are starting families and are thinking of buying a house. They are uncertain about real estate, bewildered by the terminology, and have trouble selecting the best mortgage. Any advice from a professional will save these employees thousands of dollars. Senior aged employees face issues with medical bills. They worry they may have to postpone retirement because of the high cost of medical treatment. Continue reading

stockfresh_5802529_generation-z-y-x-boomers-millennials-3d-word-gears-demographics_sizeS-300x300Young employees are facing a severe test that they may have never dealt with before. The stimulus checks helped bridge any financial gaps, and the eviction moratoriums enabled them to stay in apartments rent-free. Well, the party is over. The Supreme Court decision on evictions helps landlords but does little for anyone whose rent is in arrears. The new normal we hear so much about might now include serious adjustments to personal finances. The Z Generation may have some real challenges.

When Remote Work Isn’t Fun

The thought of working from home sounds great. Individuals can get the job done with no office distractions and set a daily schedule to fit personal needs. However, there is a price to be paid for this. Remote work isolates an employee from the rest of the work team. The informal communications network that is part of working life is diminished. The solutions a Z Generation employee needs are not readily available, and when it comes to money woes, this person might panic and make poor decisions. Continue reading

stockfresh_3576539_stressed-female-graduate-holding-stacks-of-hundred-dollar-bills_sizeS-200x300College debt is not something anyone wants to deal with, but those who have outstanding balances must face those figures. College is now a life experience that carries a cost that may take years to pay. The figures are as large as a mortgage.

Young employees and even those with five or more years of seniority are trying to deal with a situation affecting their life decisions (e.g., buying a house, starting a family, etc.). The good news is that there are ways to handle the financial situation. A plan of what to do, however, is essential. But there is the rub; many do not know what to do and how to create a realistic system for paying college debt. Therefore, they need some good advice and need it right away. Fortunately, Countrywide Pre-Paid Legal Services is here to offer assistance that resolves a rough situation. Continue reading

stockfresh_1701311_stethoscope-and-dollar_sizeS_f73430-300x200It is easy to be afraid in a pandemic. Health becomes a priority, and people try to be as careful as possible. It is a brilliant idea to get vaccinated, but there is more to dealing with health issues than a shot in the arm. People will be confronted with other problems besides COVID-19, and the cost of health care will be a significant worry.

Hospital Bills are Rarely Small

If you don’t think so, take a close look at the EOB (Explanation of Benefits) that your health insurance company issues. Even minor medications come at a sizable cost. It’s only natural to panic when you first see a medical bill. Minor surgery is expensive and the same is true for physical therapy sessions. The final figures can be a shock.

stockfresh_2912650_what-do-i-do-now-thinking-person-thinker-question_sizeS-297x300We have all been through some very tough times. There was a point when people felt the world was ending and there was no hope for any future. Granted, COVID-19 is still here, but we also have the vaccines to combat the disease. So, things are getting better, but there is some work to be done.

Personal finances took a hit during the pandemic. Everyone was able to get by thanks to the stimulus checks and moratoriums on college debt and rent payments, but those holidays are rapidly fading. The near-normal means a return to old bills and obligations. Some bad habits need to be eliminated in the coming months, or there will be some terrible consequences. Money gurus are suggesting that the following actions take priority. Continue reading

stockfresh_225020_eraser-and-word-debt_sizeS-300x200The recovery from the COVID-19 pandemic has been a rocky road for some employees. They may have been having financial problems before the crisis and got a reprieve with the stimulus checks. Not having to pay apartment rent or school loans might also have helped. However, any holiday from financial responsibilities is going away. Those with money problems discover those debts didn’t go away, and their financial resources are strained to the breaking point. Bankruptcy and foreclosure could be real threats.

A Widespread Problem

Those facing bankruptcy are not alone at all. The government assistance only delayed the inevitable for some. A false sense of security caused these people to delay filing, and the pause permitted them to acquire even more debt. They now are in deep trouble. Continue reading