A leading cause of financial difficulties is simply that people may lack the tools and skills needed to manage their money. A 2020 PricewaterhouseCoopers Employee Financial Wellness Survey found that more than a third of full-time employed Millennials, Gen Xers, and Baby Boomers have less than $1,000 saved to deal with emergency expenses. When asked what they feel causes them the most stress, more respondents cited financial matters than any other life stressors combined. They mentioned seeking guidance on how to prioritize spending, which bills to pay, and how to handle creditors. The survey also found that most seek financial guidance only at key decision points or when they’re already in trouble financially.
At Choice One, we feel it’s important to be proactive with your financial health. The well-being of our members is our top priority. We’ve partnered with GreenPath Financial Wellness to provide financial coaching, debt management tools, and additional resources for our expanding membership base. Example of the free one-on-one coaching, services, and resources available to help you reach your financial goals include:
- Debt counseling
- Debt management
- Bankruptcy support
- Student Loan counseling
- Credit Report review
- Educational articles
- Online classes
- Financial calculators
- Situational podcasts
Debt Counseling & Debt Management
The challenges of debt can sometimes seem insurmountable. Developing a healthy financial plan of action to overcome financial obstacles and pay off debt will have a significant effect on your future. If you’ve found your monthly spending is exceeding your income, you can’t get out from under loan payments, or you’re carrying a credit card balance every month, debt counseling can help. GreenPath offers free credit and debt counseling to those feeling overwhelmed financially. The overall goal is to ease your financial stress and help you develop a plan for living a financially healthy life. You will learn how to develop a plan of action to meet your goals that includes debt management options and recommendations. GreenPath’s counseling services include bankruptcy support and student loan counseling as well.
Credit Report Review
By now I’m sure you’ve all heard about the importance of your credit report to your overall financial well-being. Your credit report and score can be a measure of your overall financial reliability. It can determine your ability to rent an apartment, purchase a home, be approved for a loan, secure a low-interest rate or even land a new job. Poor credit can be a major hurdle in accomplishing financial goals. GreenPath’s credit counselors can walk you through a free review of your credit report. They will explain how to read and understand your report, provide suggestions for better managing your credit, and answer any questions you may have.
Articles, Online Classes, Webinars & More
There is a multitude of financial articles, online classes, webinars, and other resources and tools available through our link to GreenPath Financial Wellness on our Financial Wellness web page. From the right side of this page, you can access various Choice One blogs, with helpful topics, such as “How to Refinance a Home Equity Loan” or “Correcting Credit Report Errors.” At the bottom of the page are direct links to GreenPath’s Real Stories Podcast episodes, webinars for improving your financial wellness, and the latest financial articles. You can access additional GreenPath classes, financial education articles, and resources by tapping any “Learn More” button. Here you will find online classes to help “Redesign Your Financial Habits,” “Framework Homebuyer Education” and more. You’ll also find upcoming and pre-recorded webinars on timely topics of interest, such as “Money Concepts for Teens and Young Adults” and “Options for Dealing with Debt.” In their article library, you can browse articles by topic of interest, such as paying for college, debt, housing, budgeting, and more. You will also find additional resources, including a FAQ page with common questions on credit counseling, debt management, and much more. There’s even a handy financial calculator, monthly newsletter, and important financial health tips section.
Take action today to make your finances less stressful
If you are overwhelmed by debt or other financial stress, we hope you will take advantage of all the financial wellness tools available to you through your membership in Choice One Community Credit Union. The financial counselors at GreenPath can help you get back on track and find a solution that works best for your individual situation.
Click here to learn more about accessing classes and articles or to schedule a call with a financial coach from GreenPath Financial Wellness.