the road to financial wellness

The Road to Financial Wellness

Wednesdays | 3 p.m. ET#CreditChat

Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked to the community about the Road to

Financial Wellness.

ex.pn/wellness

How do you define financial wellness?

Wednesdays | 3 p.m. ET#CreditChat

Financial Wellness is being in control of your finances, and having the

freedom to live without fear or doubts about financial control.

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Wednesdays | 3 p.m. ET#CreditChat

”FSAstore.com@FSAstore

Financial wellness is having the ability to take care of today’s needs and save

for tomorrow’s wants.

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Wednesdays | 3 p.m. ET

AFCPE@AFCPE #CreditChat

”

Financial wellness is being financially literate and living a long-term

sustainable lifestyle.

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Wednesdays | 3 p.m. ET

Operation HOPE@OperationHOPE #CreditChat

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Financial wellness is being financially literate, empowered and in control. It

means you are proactive with your financial life.

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Wednesdays | 3 p.m. ET#CreditChat

”Douglas A. Boneparth@dougboneparth

What are bumps people may encounter on the road to financial wellness?

Wednesdays | 3 p.m. ET#CreditChat

Picking up bad financial habits. Abusing credit, making buying instead of saving a priority and not understanding needs

vs. wants.

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Wednesdays | 3 p.m. ET#CreditChat

”Leslie H. Tayne, Esq@LeslieHTayneEsq

Debt, poor credit and unexpected events can slow you down, but everyone can

achieve financial wellness.

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Wednesdays | 3 p.m. ET#CreditChat

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Southeast Financial@SFCUNews

Unexpected expenses can make for some big bumps in the road- having an emergency fund can make these

hurt less.

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Wednesdays | 3 p.m. ET#CreditChat

”Emerge@emergebenefit

Health issues. Many people are a diagnosis away from a financial crisis.

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Wednesdays | 3 p.m. ET#CreditChat

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AFCPE@AFCPE

Low income communities are often targeted by predatory lenders who can make it VERY hard to achieve financial

wellness.

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Wednesdays | 3 p.m. ET#CreditChat

”Philadelphia F.E.C.@FEC_Philly

Fearing the word ‘budget’. Call it what you will, it’s a map for the road

to financial wellness.

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Wednesdays | 3 p.m. ET

Rod Griffin@Rod_Griffin #CreditChat

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Discipline is a major roadblock to financial wellness… not knowing when to say no to yourself hurts

your bottom line.

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Wednesdays | 3 p.m. ET#CreditChat

”Alexandria Cummings@UrMoneyMentor

What are some common debts people struggle with?

Wednesdays | 3 p.m. ET#CreditChat

The main debts that have trended on #TheRoad are student loans,

credit card debt and medical bills.

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Wednesdays | 3 p.m. ET#CreditChat

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Juliana@UncommonJules

Credit card debt, personal and payday loans, homes and car loans

and store accounts.

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Wednesdays | 3 p.m. ET#CreditChat

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Piggie Banker@PiggieBanker

Debt preys on the uninformed. Arm yourself with the knowledge to

wrangle and tame it before it runs your life.

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Wednesdays | 3 p.m. ET#CreditChat

”Leslie H. Tayne, Esq@LeslieHTayneEsq

For millennials, student debt is the biggest struggle. The cost of

education is out of hand. For others it’s mortgages and credit cards.

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Wednesdays | 3 p.m. ET#CreditChat

”Douglas A. Boneparth@dougboneparth

What are steps people can take to get out of debt?

Wednesdays | 3 p.m. ET#CreditChat

Education is an important part of getting out of debt. Teach yourself

about basic personal finance.

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Wednesdays | 3 p.m. ET#CreditChat

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Phroogal@Phroogal

Take stock of how much you owe. Stop hiding from it and get a clear picture of

the situation.

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Wednesdays | 3 p.m. ET#CreditChat

”Money Crashers@MoneyCrashers

Trim the fat off your monthly spending (clothes, alcohol, restaurants) and start putting that money toward your debt.

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Wednesdays | 3 p.m. ET#CreditChat

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Kasasa@Kasasa

The first step is making a commitment to yourself to get out of debt. Being honest with yourself

your needs and wants.

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Wednesdays | 3 p.m. ET#CreditChat

”Payoff@Payoff

Know your financial personality, make a plan to money for past debt, present

spending and future saving.

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Wednesdays | 3 p.m. ET#CreditChat

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Dani Hart@DaHartattack

Create a bare bones budget and stick to it! You’ll be amazed how much extra money you’ll have.

Invest it.

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Wednesdays | 3 p.m. ET#CreditChat

”Will Lipovsky@firstqfinance

How important is budgeting on the path to financial wellness?

Wednesdays | 3 p.m. ET#CreditChat

It’s important to create a spending plan! Know where your money is

going!

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Wednesdays | 3 p.m. ET#CreditChat

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MoneySavingPro.com@_MoneySavingPro

Essential. Without a budget, you’re traveling without a map.

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Wednesdays | 3 p.m. ET#CreditChat

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Money Crashers@MoneyCrashers

Budgeting is the blueprint to financial wellness. Planning and not diverging can

ensure financial success.

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Wednesdays | 3 p.m. ET#CreditChat

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Operation HOPE@OperationHOPE

Budgeting it absolutely central to achieving financial wellness. It puts you in the driver’s seat

of your finances.

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Wednesdays | 3 p.m. ET#CreditChat

”Emerge@emergebenefit

It’s hard to get a handle on your finances if you don’t even know how much you’re spending! Budgets are

crucial.

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Wednesdays | 3 p.m. ET#CreditChat

”Philadelphia F.E.C.@FEC_Philly

How does credit affect financial wellness?

Wednesdays | 3 p.m. ET#CreditChat

Having a good credit score is part of being financially healthy. Don’t take unnecessary debt, but a little is okay.

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Wednesdays | 3 p.m. ET#CreditChat

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Southeast Financial@SFCUNews

Good credit allows big item purchases. If abused, it can take years

to repair. Spend wisely and stay in your budget.

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Wednesdays | 3 p.m. ET#CreditChat

”Operation HOPE@OperationHOPE

You will have times in your financial life where you need credit. House, car or loan? You might need to have your

credit in check.

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Wednesdays | 3 p.m. ET#CreditChat

”Douglas A. Boneparth@dougboneparth

Good credit can lower interest rates making debt less costly and more

manageable.

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Wednesdays | 3 p.m. ET#CreditChat

”

AFCPE@AFCPE

Credit can help or hinder your financial wellness depending on how responsible you are being with it. The

key is responsibility.

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Wednesdays | 3 p.m. ET#CreditChat

”Kasasa@Kasasa

Credit will always play a role in our finances, but you get to decide if it’s

the villain or hero.

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Wednesdays | 3 p.m. ET#CreditChat

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Payoff@Payoff

Remember, credit is not the same as debt. Credit is a tool. Debt is a

problem.

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Wednesdays | 3 p.m. ET

Rod Griffin@Rod_Griffin #CreditChat

”

What are ways to save when struggling with debt?

Wednesdays | 3 p.m. ET#CreditChat

Start with your emergency savings first so you can deal with unexpected

issues that might arise while you work to pay off debt.

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Wednesdays | 3 p.m. ET#CreditChat

”AFCPE@AFCPE

Automate! Make sure you take at least 10 percent off the top for

savings.

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Wednesdays | 3 p.m. ET#CreditChat

”MoneySavingPro.com@_MoneySavingPro

Take a look at your spending and start small if you need to. Maybe don’t go out

to eat for a week and save without owing interest.

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Wednesdays | 3 p.m. ET#CreditChat

”Southeast Financial@SFCUNews

Set up automatic savings and start paying off high-interest debts first (credit cards). You can do both at

once.

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Wednesdays | 3 p.m. ET#CreditChat

”Philadelphia F.E.C.@FEC_Philly

Pick up a side hustle! Not only will it earn you a little extra cash to put

towards debt, but you’ll pick up new skills!

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Wednesdays | 3 p.m. ET#CreditChat

”Leslie H. Tayne, Esq@LeslieHTayneEsq

When should you seek help from a financial expert? Any nonprofits you can recommend?

Wednesdays | 3 p.m. ET#CreditChat

Everyone can benefit from talking to a financial planner. They may see

problems or opportunities that you don’t.

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Wednesdays | 3 p.m. ET#CreditChat

”Southeast Financial@SFCUNews

When to contact professional help will vary from person to person. But the important thing is to not fear asking

for help!

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Wednesdays | 3 p.m. ET#CreditChat

”Leslie H. Tayne, Esq@LeslieHTayneEsq

Education is an important part of getting out of debt. Teach yourself

about basic personal finance.

“

Wednesdays | 3 p.m. ET#CreditChat

”

Phroogal@Phroogal

Financial planners can help you map out your financial journey before

you get off the beaten path.

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Wednesdays | 3 p.m. ET#CreditChat

”

Juliana@UncommonJules

No matter who you are, you deserve to treat yourself to a financial

professional. It’s like preventative medicine.

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Wednesdays | 3 p.m. ET#CreditChat

”Payoff@Payoff

The notion that you need money to talk to a financial professional is

bothersome. There are financial advisers that will invest in you first!

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Wednesdays | 3 p.m. ET#CreditChat

”Douglas A. Boneparth@dougboneparth

Any final tips to help the community stay financially well?

Wednesdays | 3 p.m. ET#CreditChat

It’s never too late to achieve financial wellness. Find tools, make a plan and

work hard. You can do it.

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Wednesdays | 3 p.m. ET#CreditChat

”

Southeast Financial@SFCUNews

Don’t beat yourself up over past decisions. Start with a clear slate today

and use lessons learned to improve going forward.

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Wednesdays | 3 p.m. ET#CreditChat

”AFCPE@AFCPE

Encourage learning and teaching. TALK about money. Understand how

it works.

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Wednesdays | 3 p.m. ET#CreditChat

”Melanie@DearDebtBlog

Remember - money is just a tool. You’re always in control!

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Wednesdays | 3 p.m. ET#CreditChat

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Emerge@emergebenefit

Become financially literate, educate yourself and stay disciplined. I can’t say

enough about discipline. Emotion has no place with money.

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Wednesdays | 3 p.m. ET#CreditChat

”Douglas A. Boneparth@dougboneparth

Learn something new every day about personal finance; save early and often;

live below your means.

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Wednesdays | 3 p.m. ET#CreditChat

”

Dr. Barbara O’Neill@moneytalk1

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