CrossState’s Foggie and Service 1st’s Thomas Discuss Financial Wellbeing, Setting Goals, Budgeting on PA Newsmakers

Yesterday CrossState Chief Regulatory Officer, Nicola Foggie, and Service 1^st FCU President and CEO, Michael Thomas, joined PA Newsmakers Host Terry Madonna to talk about the importance of financial wellness when setting new year resolutions.

Here are a few of their key points:

Setting a Path to Financial Wellbeing

Resources are available to create a plan to take control of your financial well-being and set a pathway to better financial health.
There are steps that can contribute to a major impact on your finances and improve whole-person health.

Seek emotional support
Look into employer financial wellness programs
Contribute to a savings account regularly

Setting Goals to Improve Your Overall Wellbeing

Set goals that motivate you
Set SMART goals (Specific, Measurable, Attainable, Relevant, Time Bound)
Set goals in writing
Make an action plan

Budgets Set Up Long-Term Success

How to get started:

Write everything down
Figure out your after-tax income
Divide your income into needs, wants, savings, and debt repayment
Choose a budgeting plan and monitor your progress
Record your spending using online budgeting or savings tools

Automate your savings

Automate as much money as possible toward a specific purpose
A partner, financial institution, or online support group can help hold you accountable.

Watch the full recording on the PA Newsmakers website. You can also catch this episode on the following days, times, and stations:

WGAL Channel 8 (Harrisburg and Lancaster) Sunday, January 21st at 11:30 AM
WBPH (Lehigh Valley and Philadelphia) Monday, January 22nd at 8:30 PM
WLYH (Harrisburg, Lebanon, York7th) Monday, January 22nd at 8:30 PM
WKBS 47 (Altoona) Saturday, January 27th at 9:30 AM
WPCB 40 (Pittsburgh) Saturday, January 27th at 9:30 AM
MeTV (Susquehanna Valley) Sunday, January 21st at 9:30 AM

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