On April 12, GreenPath will host a Financial Industry Partner Summit. GreenPath partners will visit our global headquarters to learn more about the bigger picture of financial wellness, while getting a taste for some new methods of problem solving that we are utilizing in our work.This year, Chinmay Aradhye (Principal Behavioral Scientist & UX Researcher) and Emory Nelms (Senior Researcher) will provide the keynote experience. We sat down with Chinmay and Emory to get some background on the event and provide a sneak peek.
The journey to financial wellness is one filled with all sorts of new discoveries. Once you commit to turning your financial life around, you’ll discover more about yourself, such as your true needs and wants.
You’ll also figure out some interesting and simple cost-saving strategies—or life hacks—that you can carry with you for life. We’ve learned a lot of tips over the years through talking with clients. Here are some of our favorite things you can do to improve your financial life.
As we move deeper into 2018, now is a good time to refresh some of those New Year’s Resolutions and continue to integrate good habits so they stick throughout the year. One of the most important and fundamental habits for financial wellness is budgeting. By making budgeting a habit now, you will see lots of benefits over the long-run!
What is a Budget?
A budget is a plan for how much money comes in and how much money goes out each month. It’s really that simple. By breaking down your budget into categories such as mortgage, food, and entertainment, you can see where you can cut back, and where you have wiggle room. Creating a budget that factors in things like savings and investments also makes it easier for you to create a solid foundation.
GreenPath Financial Wellness wants to change the world.
Our Big, Hairy, Audacious Goal is to “Remix the American Dream so it works for everyone.” We believe that everyone deserves the chance to pursue their own dreams. Financial wellness gives people power, strength and independence to lead the lives they want.
Cost is generally the last thing on your mind when you or a loved one needs medical care. Health is the only thing on your mind, particularly in an emergency or a life threatening illness. However, medical expenses are an important part of your financial wellness picture. Here’s what you need to know:
Sometimes, unplanned events - a sudden job loss or medical expenses, for example – can impact your ability to pay the mortgage. It happens to many of us. Unfortunately, it can also leave us vulnerable to scams when looking for mortgage assistance. Here are some things you can do to protect yourself:
First, The Homeowner’s Guide to Success explains what to expect when you are late on your mortgage payments and what choices you may have. Co-created by several government agencies and bureaus, the guide also provides contact information for housing experts, such as those at GreenPath, who are trained to advise consumers on their options.
If you are a homeowner and are struggling financially, check out this guide! Not only does it suggest the steps to take if you are having a hard time making your mortgage payment, but it also offers resources to help you avoid foreclosure.
The guide was recently put out by the U.S. Department of Housing and Urban Development (HUD) as part of a public-private partnership between federal agencies and industry partners.
It can be tough to stick to healthy financial habits, especially the ones that relate to long-term goals. The great news is that we can make some relatively small changes that "nudge" us along in the direction of financial wellness.
In behavioral economics, the study of how people make choices, small changes that alter our default behavior are called "default nudges." Automation enables us to enforce our intentions and priorities, and creates a barrier for spending decisions that fall outside those priorities.