We are filled with hope and optimism—with sunshine—as we enter this holiday season. Have great news, including one big one from our CEO and Co-Founder.
So let's catch up on what's happening:
One random bit - it's always fun when others discover us. In this CNBC article, we saw a call out for a "sunny day fund" as a way to save for emergencies - hey, that's what we're doing at
Sunny Day Fund ??
!
Sid Pailla welcomes, Veera!
Sid Pailla ??
shares his fatherhood experience on LinkedIn, here's a quick summary:
- He's beyond giddy, and uses Hamilton lyrics to show why.
- Appreciate moms, especially working moms and parentpreneurs.
- Policymakers and investors have an opportunity to better support workers transitioning to parenthood.
- He has a new sense of purpose: to make his child proud.
Webinar with Employee Relief Fund Partner - Nov 16 at 12PM ET
Join the conversation next Thursday, November 16th at 12 pm ET?with our friends in the financial health space:
Attendees will walk away with:?
- Insights from leaders shaping the future of worker well-being
- Insights into your employees' financial challenges
- Financial trends for 2024, and how to capitalize as an HR leader
JUST RELEASED: Household Debt Up $228B, to $17.3T in Q3
The
Federal Reserve Bank of New York
recently released their 2023: Q3 Household Debt? and Credit report. Here are some highlights:
- Mortgages represented the largest absolute dollar ($126B) increase, but credit card debt represented the biggest proportional increase (4.7%!!!)
- Delinquencies are up - especially among credit cards and auto loans, and on the longer horizons
- Remember, medical debt reporting changed. Medical debt under $500 stopped appearing in consumer reports and medical debt collections were removed from credit reports - so we are not seeing the full debt picture here
- Also remember, student loan repayment impact isn't captured since that didn't start until October
- Finally, 401(k) "loans" are also not a part of this report, but the worsening trend there and other distributions is also discussed in this Bank of America research reporting from CNN
We talked about this relationship between debt, savings, and employer role in a previous webinar - check out the webinar replay here or read the blog here.
"Sunlight" on Thought Leadership
- 60% of Americans feel behind on emergency savings - a 'sunny day' fund can help, says CFP - CNBC, Nov 2023
- More Americans are yanking money from their 401(k) plans to pay the bills -?CNN, Nov 2023
- Vanguard: How America Saves 2023?- Vanguard Institutional, 2023
- Pay Gap for Women in New York City Is Unchanged Since 2007, Study Says?- The New York Times, Nov 2023?
- Servicemembers continue to face major financial challenges?- Consumer Financial Protection Bureau, Nov 2023?
- Payday lenders aim to evade federal probes as borrowers plead for help?- The Washington Post, Oct 2023?
- Young Adults Are Running Out Of Cash To Pay Emergency Expenses?- Investopedia, Nov 2023?
- Why women can't afford to retire?- Employee Benefit News, Nov 2023?
Improving workforce efficiency | I help employees succeed with their money today and at retirement.
1 年Now that's the Sunniest news of all. Veera is absolutely beautiful - what a blessing ??. I can tell from her happy expression that she's thinking Sunny thoughts.