Resources for your journey to financial wellness

When it comes to managing your money, there is a lot to consider. Whether you’re just starting out or nearing retirement, having a clear picture of where you are and where you hope to be is important – and not just for your pocketbook. Money is a top cause of stress for many adults and not managing it well can negatively impact your physical and mental health.

The health system and its partners at Fidelity Investments offer financial wellness resources that can help you manage your personal finances in every season of life. Here are some highlights.

Saving and spending

• Build a budget: With the cost of goods on the rise, having a budget you can stick to could help improve your overall financial wellness. Start your budget using the rule of 50/15/5 (PDF). 
• Create an emergency fund: Could you cover three to six months of living expenses or pay for something unexpected? Life is full of surprises and planning ahead can help prepare you for whatever comes your way. See video: Things to Know about an Emergency Fund.
• Understanding your debt: Prioritize high-interest debt and then review what debt may make sense to pay off and what debt is okay to keep. Learn more with this on-demand workshop: Take control of your debt. 
• Get help managing student loans: For many in healthcare, student loan debt is a top money concern. The health system now offers a new benefit through Fidelity that can help you more easily manage federal student loan debt and navigate the complex Public Service Loan Forgiveness (PSLF) program. 
• Save with pretax accounts: Setting aside pretax dollars from your paycheck to cover qualified dependent care and healthcare costs can help you save 30% or more. See how. 
• Consider saving 1% more. Take the 1% more challenge and see how a small change can make a big difference in saving for retirement.  

Keep your accounts clean

• Review or update beneficiaries: It is important to update your information for all accounts and review your designations whenever you experience a life event (marriage, divorce, death, or birth). See video: Why is it important to name a beneficiary? 
• Manage important documents: Fidelity’s FidSafe provides a safe, easy, no-cost way to store, access and share digital copies of your most important documents. 
• Create a will, trust, or estate plan: Learn more about how to get started with this on-demand workshop: Preserving your savings for future generations.

Access more free help

• Free one-on-one financial coaching: Employees with a balance in the health system’s retirement plans can also receive free, on-on-one financial coaching. Work with a Fidelity consultant to create a financial plan for your unique needs – managing debt, buying a home, saving for college, planning for retirement, choosing investments and more. To get started:
  • Schedule a meeting (virtual, in-person or phone) with one of the health system’s dedicated Fidelity Workplace Financial Consultants, Craig Fischer and Ben Wright; or
  • Speak to Fidelity’s team of phone-based planners at 800-642-7131, 7:30 a.m.–8 p.m. CT.