It comes as no surprise that managing finances and money can be stressful. Like most types of stress, financial stress can impact your sleep, physical and emotional health, relationships, performance at work and family life.
April is National Financial Capability Month, highlighting the importance of having a basic understanding of how to handle money matters like paying bills, managing debt and saving money. This knowledge is essential when it comes to reducing financial stress and making informed financial decisions for you and your family.
Improve your financial well-being
The MHealthy website includes information, programs and university and national resources to help support your financial well-being. Learn about:
- Help available if you have a need
- Understanding financial basics
- Managing your money
- Managing your debt
- Understanding and improving your credit score
- Setting financial goals
Gain awareness around your personal finances
Register for the new Money Matters virtual gameboard and boost your knowledge around money and personal finances – one square at a time. Over 28 days, journey along the path completing quick, daily tasks designed to test your knowledge, raise your awareness and help you reflect on your current financial habits. A new task is unlocked daily with topics ranging from budgeting and saving money to managing debt and improving credit scores.
Available to active, benefits-eligible faculty and staff and their spouse/other qualified adult enrolled in a U-M health plan. Sign up today on the MHealthy Portal.
Find solutions to difficult financial situations
In challenging times, it can be difficult to know where to turn for help. The MHealthy Resource Coach Program helps U-M and Michigan Medicine employees find practical solutions to difficult situations. Assistance comes in the form of case management services, connections to community and local resources, and in some cases, financial support for employees experiencing a financial crisis or other personal hardship.
Check in on your retirement
TIAA and Fidelity, U-M’s trusted administrators of its Retirement Savings Plans, are available to meet with you virtually, by phone or in person. Their specialists are trained to help you create a financial plan and take steps toward your goals. And, during National Financial Capability Month, both are also offering several web-exclusive events, both live and by-demand.
Access resources on the MHealthy Portal
The MHealthy Portal, available to benefits-eligible faculty and staff and their health plan enrolled spouse/OQA, includes online courses and self-guided programs focused on financial well-being, including:
- Path to Wellness: Financial Well-being
- Course: Creating a Cash Flow Plan
- Course: Path to Financial Well-being
