Thrive Financial Wellness

?? “I don’t know” might mean you know more than you think. New research from the FINRA Foundation has revealed something powerful: when people say "I don't know" on financial knowledge assessments, it doesn't always mean they don’t know—it may mean they’re not confident in what they do know. At Thrive, this struck a chord. ? Many who choose “don’t know” actually answer correctly when prompted to guess. ? Women, in particular, are more likely to use “don’t know”—and often have unrealized knowledge. ? And here’s the kicker: saying “don’t know” too often correlates with doing fewer positive financial behaviors, like having a savings plan or a retirement account. What does this mean for our work in financial wellness? Confidence and financial knowledge go hand in hand. And it means how we ask matters. So let’s start with this question: ?? When it comes to money… what’s something you think you don’t know—but might actually know a little more about than you give yourself credit for? ?? Share below, or reach out to us. We’re here to help you explore what you do know—and build confidence along the way. #ThriveFinancialWellness #FinancialConfidence #FinancialEmpowerment #YouKnowMoreThanYouThink #FINRAFoundation #FinancialWellness #BehavioralFinance

?? Is Your Bank Account Setting You Up for Financial Success? ???? Not all bank accounts are created equal! A good bank account should be affordable, accessible, and safe. According to the BankOn National Account Standards, here’s what you should look for: ? Low Fees: ?? $5 or less in monthly fees (or waivable!) ?? NO overdraft or non-sufficient funds (NSF) fees ? Convenient Access: ?? Free branch access & live customer support ?? Free in-network ATMs (or low fees for out-of-network) ? Digital Banking Perks: ?? Free mobile & online banking ?? Alerts to track spending and deposits ? Smart Money Features: ?? Free cash deposits & direct deposit ?? Low-cost money orders ?? Options for credit-building products ?? How does your bank account measure up? Drop a ? in the comments if your account meets these standards! If not, it might be time to shop around.

Teaching Youth About Credit Cards: A Conversation That Matters Talking to young people about credit cards can feel overwhelming—where do you even start? ?? The truth is, early conversations about credit can set them up for financial success in the future. Here are a few key points to discuss: ? Credit is a tool, not free money ? Paying on time is essential for building a good credit score ? Small purchases and full payments help establish responsible habits ? Interest adds up—so avoiding unnecessary debt is key! Need help getting the conversation started? Check out this great video from the University of Wisconsin: ?? https://lnkd.in/eQEP2-Vs Let’s talk! How have you approached conversations about credit with the young people in your life? Drop your thoughts in the comments! ???? #FinancialWellness #CreditTips #ThriveFinancialWellness #YouthFinance #MoneyTalks

On Wednesday this week, members of the bankESB team visited as guest speakers to conclude this series of #Thrive financial wellness classes at Springfield Technical Community College . Participants learned about everything from homeownership and mortages, to commercial loans, and even how to spot and prevent fraud. Thank you Bank ESB team for taking the time to talk to our group! To learn more about Thrive, visit us at uwpv.org . . . . #uwpv #unitedway #financialwellness #giveback #teamwork #nonprofit #volunteer #banking #learnbanking #saving #community

The Real Cost of an iPhone: A Credit Card Reality Check That new iPhone might have a price tag of $999, but if you put it on a credit card and only make the minimum payment, how much will it really cost you? Let’s break it down: ?? iPhone price: $999 ?? Credit card interest rate: ~24% APR ?? Minimum monthly payment: ~$50 If you only pay the minimum, it will take nearly 6 years to pay off the phone—by then, a few new models will have come out! And the total cost? Over $1,700 thanks to interest charges. That’s $700 extra, just for financing convenience. So before swiping that card, ask yourself: ? Is there a lower-interest way to pay? ? Can I save up instead? ? Is this purchase worth the long-term cost? At Thrive Financial Wellness, we help people make informed money decisions and avoid financial pitfalls like this. Ready to take control of your finances? Let’s talk!

?? Cash Flow Analysis vs. Budget: What's the Difference? ?? While they’re closely related, they serve different purposes in your financial journey. Here's a quick breakdown: ?? Cash Flow Analysis Think of this as a snapshot of your financial now. It tracks your actual income and expenses over a specific period, revealing where your money goes. It's like looking at your bank statement and seeing the reality—whether it’s that daily coffee habit or unexpected expenses. ?? Budget This is your financial game plan. A budget projects future income and expenses, helping you set goals and decide how to allocate your money—whether it’s saving for an emergency fund, paying off debt, or planning a vacation. Why Both Matter: A cash flow analysis helps you identify spending patterns and areas for improvement. Then, you use that insight to build a budget tailored to your goals. At Thrive Financial Wellness, we empower individuals and families to understand their finances, make informed decisions, and work toward lasting financial security. ???? Ready to take control of your finances? Let us help you create a cash flow analysis and turn it into a budget you can thrive with. ?? Contact us today to get started!

Empower Your Team with Financial Wellness! At United Way Pioneer Valley, we know that a confident and financially secure team makes for a stronger workplace. That’s why we’re proud to offer Thrive Financial Wellness, a program designed to meet your employees where they are and help them achieve greater economic mobility. What Thrive Offers: Proven Frameworks: Utilizing the FINRA Foundation’s financial wellness model and EmPath’s Bridge to Economic Mobility for meaningful, person-centered outcomes. Flexible Learning Options: Choose from 4-6 small-group workshops or one-on-one coaching sessions on topics like budgeting, goal setting, savings, and credit building. Real Impact: Boost employee confidence and resilience while reducing stress and enhancing productivity—serving over 400 participants annually! Let’s work together to create a culture of financial well-being in your workplace. Contact us today: Lee Drewitz, Director of Program Operations [email protected] | ?? 413.693.0201 Learn more at www.uwpv.org/thrive.

Please join United Way and Mass Hire for an online workshop featuring strategies to budget on a fixed income and planning for the Benefits Cliff.