debt

Helping Employees Pay Down Student Debt
Team SummitEmployee Outcomes, Employer Resource Center, Plan Operations & AdminComments are off for this post
The ever-growing burden of student loan debt looms menacingly over many Americans, crippling their ability to save for retirement and other financial goals. According to Bankrate, around 60% of Americans who have student debt have delayed saving for major milestones because of it. While young people bear the most debt, they’re not the only ones  Read More →
Thanks for the Memories: Gratitude and Financial Wellness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
So much about financial wellness has to do with cultivating a mindset that favors delayed versus immediate gratification. In the language of behavioral economics, the tendency to prefer short-term rewards is called hyperbolic discounting. This often leads to more impulsive decision-making, and it can feed excessive personal debt and hamper retirement readiness over time, whereas  Read More →
An Emergency Fund for Life’s Unexpected Expenses
Team SummitBudgeting & Debt, Employee Financial Resource Center, Financial PlanningComments are off for this post
One of the first lessons of finance we are taught, by our parents or through some basic personal finance course, is to make creating an emergency fund our top priority. Having a reserve of cash equivalent to six to 12 months’ worth of living expenses is considered the most fundamental principle of financial security. Yet,  Read More →

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