Tips for Financial Wellness from WomanUP

In Part 3 of WomanUP’s virtual workshop mini-series on Whole-person Wellness, Laura Webb of Webb Investment Services; Avril Pinder, Buncombe County Manager and Jane Hatley of Self-Help shared tips for financial wellness. Financial health and wellness are deeply connected to every aspect of a person’s life – their access to healthy food, health care, housing.  According to a recent study by PwC, money causes the most stress in the lives of almost 60% of employees.   Across all generations, money was the top life stressor, and more than 30% of employees say their health has been impacted by their financial worries.

Explore these resources for improving your financial wellness…

For Getting Your Numbers in Shape/Understanding Your Numbers:

• Find a good income and expenses tool:
  • Example:  webbinvestmentservices.com/resources
  • With Bank or CU
  • Online tools
    • Financial Health Network FinHealthScore: A measurement framework to assess your financial health.
• OnTrack WNC Financial Education & Counseling: Women’s Financial Empowerment Center
• Self-Help Credit Union: the credit builder loan can help you establish/clean up credit.
• A-B Tech Continuing Education: Financial Wellness

Increase your financial literacy:

• www.smartaboutmoney.org
• www.practicalmoneyskills.com
• www.kahnacademy.org
• HerTwoCents Podcast
• So Money Podcast

For Budgeting:

• Mint.com
• myspendingplan.com

For Small Businesses Financing: (In addition to regular banks and credit unions):

• Mountain Community Capital Fund: offers guaranteed loans for local small business owners who may not have collateral or some other risk factor.
• Local non-profit CDFI’s that do small business lending: Mountain BizWorks (mountainbizworks.org), Self-Help Credit Union (self-help.org), Carolina Small Business Development Fund (carolinasmallbusiness.org).   In addition,
  • Mountain BizWorks: offers classes and coaching.
  • Carolina Small Business Development Fund which also operates the Western Women’s Business Center
  • Self-Help: offers a way for you to invest in local woman-owned businesses, the Women and Children CD.

For Building your small business community:

• Explore our Member Maps to learn how to activate your membership.
• Start-up resources from Venture Asheville
• Asheville Grown Business Alliance: offers a directory of local businesses and the Go Local card.

For Investment Advice:

• Online Ellevest – A Financial Company For Women, By Women – with a promotion for three months free with sign up through Nov. 2, 2020 https://www.ellevest.com/
• Local Banks or Credit Unions
• Local Financial Advisors

Additional Info & Resources:

• Article from Wall Street Journal: How the Coronavirus Crisis Threatens to Set Back Women’s Careers
• McKinsey & Co. study: Women in the Workplace 2020
• Asheville Chamber Coronavirus Resource Guide