Articles Posted in financial wellness

COVID-19 has disrupted ordinary lives and that is an understatement. It is more than just quarantines and stay-at-home orders. The financial wellness of ordinary citizens is placed in jeopardy and certain arrangements are threatened. Alimony is one of those.

The court establishes in the divorce decree how much a spouse needs to pay the other. It is based on the financial information at the time. Granted, the loss of a job or income can be an issue. The difference between an ordinary job loss and the coronavirus pandemic is that the temporary loss of employment was the result of a state decree. Continue reading

It is easy to be anxious about big purchases. These can require loans that take years to pay off. Buying a house is an enormous six-figure commitment with potentially harsh consequences. Real estate is not for the faint of heart or for the uninformed.

It Is a Major Adjustment

House ownership is a significant middle-class status symbol. It tells the community a person is successful enough to afford a mortgage. That mortgage, however, could be a grenade waiting to explode.

A problem that surfaced in the Great Recession of 2008 was the mortgage ignorance of many people. Folks didn’t know the dangers of balloon mortgages or other debt instruments. Their financial wellness consequently suffered. Continue reading

Real estate agents on television will showcase the house bargains that are just waiting for a buyer. They will stress the positive, but once the house is sold, the buyer learns the negative.

A naïve first-time home buyer isn’t aware of the pitfalls of real estate. The house might have structural problems and the buyer might be using a balloon mortgage to pay for the home. Financial wellness might soon be at risk.

People Need Real Estate Education

A house is what every employee would like to have. Unfortunately, not every person understands real estate. Housing and mortgage financing can be a real mystery. Whether a person is buying a dream, or a nightmare depends on what he or she knows. An employer can help by offering a financial wellness program that includes education. Countrywide Pre-Paid Legal Services provides a benefit that has a real estate education option. Continue reading

Human resources understands the impact of depression on productivity. People who have anxiety or disturbing thoughts are distracted. Deadlines and business benchmarks might be ignored as a person tries to deal with inner demons. Depression can be expected any time a person’s financial wellness appears to be in jeopardy.

Hard Lessons in Life

Young employees are especially vulnerable to stress brought on by finances. This is more than just having to deal with a personal budget for the first time. Many are faced with paying off college debts that are staggering. Others must deal with credit card obligations and even health issues that can drain a normal paycheck. Worries about finances will affect a person’s decisions. The opportunity to buy a house may seem to be completely out of reach and saving for the future looks out of the question. Continue reading

It is a new semester on college campuses and the last one for many seniors. College days are about over, and the monthly student debt bills will soon begin. Some seniors already have accepted job offers, but loan repayments might take a big portion of their paychecks. The cost can harm financial wellness.

College debt can be enormous with a person perhaps owing more than $100,000. New graduates have not faced the payment obligations the size of a house mortgage. Drastic steps such as forbearance and even declaring bankruptcy can appear to be the only options. However, desperate decisions are not necessary. Continue reading

January comes as a shock  for some people. The new year impacts an organization’s health insurance deductible: it starts all over. The full deductible amount is reinstated. It upsets folks because they are afraid their medical condition will jeopardize their financial wellness.

A Nasty Compromise

Employers do what is necessary to contain medical expenses. Raising employee premiums or changing the co-pay percentage is not popular with the workforce. The compromise is to increase the deductible instead. Deductibles between $5000 and $10,000 are typical. Continue reading

Fiscal responsibility is a virtue everyone wants to have. Unfortunately, it is not that simple, nor is it easy to get. Folks will try all types of budgeting but do not always get it right. Attempts to pay large bills are frustrating, and people start worrying about how they will ever eliminate their credit card debt. Financial wellness means using the proper tools to get out of choppy water and commence smooth sailing.

There are many financial gurus out there who promote this idea or that in order to help somebody walk a smooth path. The problem is that these so-called experts promote general ideas. Their suggestions may or may not be what an individual needs for his or her finances. It is essential to have somebody to work with in a one-on-one situation. It guarantees that an individual’s financial wellness is constructively addressed. Countrywide Pre-Paid Legal Services has a benefit that can help anyone do a better job of managing domestic finances. Continue reading

College can be a major learning experience after graduation. The grace period for college debt repayment ends six months after the final ceremony and it can be a shock. The monthly payment on six-figure debt can be the sizable mortgage. The financial wellness of a young employee might be in danger.

Forced Choices

College debt is a significant disruption in anyone’s life. Decisions about buying a house, having children, or getting married are affected. A young graduate has little understanding of finances, and panic is a normal response. Using forbearance or not paying and then filing for bankruptcy creates more substantial problems. The wrong decision will result in credit ratings being destroyed and money problems lasting well into the future.

The new employee doesn’t require a handout. Good advice in managing college loan repayment is better than cash. Countrywide Pre-Paid Legal Services offers a financial wellness plan that can resolve many common financial challenges. Continue reading

Medical emergencies are often unexpected. They cause people to spend extended time in a hospital bed and undergo lengthy therapy afterwards. It all adds up to a very sizable bill. People will panic over the size of the invoice, but they should be careful about taking drastic measures that might damage financial wellness. There are several ways to handle that medical bill.

Some Options

1. Medical Credit Cards

Healthcare providers may have a credit card option, where the patient signs up for medical credit card with the provider. It doesn’t take long for approval and this type of plastic is ordinarily for medical situations. Continue reading