Tips & advice on getting your finances back on track.
The cornerstone of financial health begins with financial literacy and education. Simply helping people out of debt, while admirable, is not enough to reduce the staggering 57% of Americans who are overwhelmed with debt or struggling with a lack of understanding of their finances. Navicore teaches people to ‘fish’ rather than just hand them the fish just for one day’s meal.
Financial education provides the power to lift families weighed down by debt, and help them break the cycle of living pay check to pay check – or worse, sliding deeper into debt. This is the difference between being helped out of debt and the ability to stay out of debt by gaining control over your personal finances and is ultimately the path to long term financial health.
When the student becomes the teacher.
When families begin to include their children in the discussion around finance, it provides sustained financial health for generations to come and can break a familial cycle of debt and credit abuse. When the parents become the teacher, the children learn to ‘fish’.
Mellissa M. from Old Bridge, NJ has had a sometimes tough path as she climbed out of debt with Navicore’s help.
“As a single mother, it has been difficult at times to make the decision to stick with my plan. I know however, that paying my balances back and keeping myself on the plan is far more valuable than giving in to impulse expenditures. Paying my balances back with the help of Navicore is something I am very proud of and as a mother it has shown me how important it is to educate children about money, spending and responsible use of credit.” she says.
Financial education is the key to sustained financial health and a building block of Navicore’s mission. Our overall success across the country for raising financial health is fueled by providing free education and resources both before individuals are over their heads in debt and to guide them out of debt should they find themselves in financial strife. Navicore provides the support, resources and cheer-leading for individuals who are on the front lines of debt management and who are gaining an understanding of how they found themselves in their financial position.
Why is Financial Health important?
When a family or individual can sustain their own personal finances in a continuing and positive manner, then they increase their financial health and in turn allows the individual to have choices and opportunities that can only be achieved through an understanding of basic personal finance principals.
Clients consistently tells us about the reduced stress levels in their lives once they take control of their finances and make strides in a positive direction. Tracey B. from Chester, MD says, “I can sleep so much better now! I have hope for my future. I am able to save a little bit every month for retirement. It is my dream to accumulate enough money to put down a payment on a small home in the next few years.”
To hear our clients talk in terms of hopes and dreams, and of sleeping better, we know that not only their financial health is improved, but their physical well-being is as well. They learn to budget their money and take small steps in the direction of becoming debt free. They have learned to fish and provide for their futures and those of their children as they pass their personal financial knowledge onto the next generation.
Visit our Education Library to learn more about your personal finances and how to manage them.
Lori Stratford is the Social Media Strategist at Navicore Solutions. She promotes the reach of Navicore’s financial education to the public through social media and blog content.