FinFit Learn  |  Family, Home & Lifestyle

April is Financial Capability Month, a time to empower individuals with the knowledge and tools needed to make informed financial decisions. Being financially capable isn’t about how much money you make, it’s about how you manage, save, and plan for the future. No matter where you are in your financial journey, small changes can lead to big improvements in your financial wellbeing. 

What is financial capability? 

Financial capability means having the skills, knowledge, and confidence to manage your money effectively. It includes: 

• Budgeting wisely: Knowing where your money goes and aligning it with your priorities. 

• Building savings: Preparing for unexpected expenses and long-term goals. 

• Managing debt: Keeping debt under control and making a plan for repayment. 

• Investing in your future: Planning for retirement and growing your financial resources over time. 

According to a study by the Financial Industry Regulatory Authority (FINRA), only 34% of Americans can answer basic financial literacy questions correctly. This highlights the importance of ongoing education and financial awareness. 

How to strengthen your financial capability 

1. Assess your financial health 

Start by reviewing your financial situation. Ask yourself: 

• Do I have a budget that aligns with my income and expenses? 

• Do I have an emergency fund that could cover 3-6 months of expenses? 

• Am I actively reducing debt and avoiding high-interest financial burdens? 

2. Build healthy financial habits 

Small daily habits add up over time. Here are a few to start with: 

• Automate savings: Set up direct deposits into a savings account so you’re consistently putting money aside. 

• Use the 50/30/20 rule: Allocate 50% of your income to essentials, 30% to wants, and 20% to savings and debt repayment. 

• Review your subscriptions and expenses: Cancel services you don’t use and redirect those funds toward your financial goals. 

3. Take advantage of financial resources 

With FinFit, you can: 

• Start with a financial assessment to identify areas for improvement in your financial health journey. 

• Access guidance to reduce debt, improve your credit score, and build savings. 

• Use FinFit’s budgeting tools and resources to simplify money management and stay on track toward your goals. 

Log into your FinFit account today to explore how financial coaching can help you build confidence and take control of your money. 

4. Plan for the future 

Financial capability isn’t just about handling today’s expenses, it’s about preparing for tomorrow. Make sure you’re taking steps to: 

• Invest in your retirement, even if it’s small contributions to a 401(k) or IRA. Check out this Learn article to read more about how to save for retirement. 

• Set long-term financial goals, like buying a home or paying off student loans. 

• Continue learning, whether through financial literacy courses, books, or employer-provided resources. 

You have the power to improve your financial future! 

Financial Capability Month is a reminder that no matter where you’re starting, you can take steps toward greater financial stability. 

Take this opportunity to evaluate your finances, set new goals, and use available resources to build a more secure future. Whether it’s creating a budget, growing your savings, or reducing debt, every step you take today moves you closer to financial confidence and independence. 

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FinFit Learn  | Credit & Borrowing

When unexpected expenses arise, it can be tempting to turn to payday loans for quick cash. But while payday loans may seem like an easy solution, they often lead to a cycle of high-interest debt that’s difficult to escape. Understanding how payday loans work, and the risks involved, can help you make better financial decisions and avoid financial pitfalls. 

What is a payday loan? 

A payday loan is a short-term, high-interest loan typically designed to cover expenses until your next paycheck. These loans are usually: 

• For small amounts (typically $100 to $1,500). 

• Due within two weeks to a month. 

• Secured by access to your bank account or a post-dated check. 

Because payday loans are easy to obtain, they are marketed as a quick fix for financial emergencies. However, their extremely high interest rates make them a risky option. 

The true cost of payday loans

Payday loans come at a steep price: 

• The typical two-week payday loan has an APR (Annual Percentage Rate) of almost 400%.  

• 12 million Americans use payday loans each year, and the average borrower pays $520 in fees to borrow $375.  

• Four out of five payday loans are rolled over or renewed, meaning borrowers take out another loan to cover the first—trapping them in a cycle of debt.  

Because payday loans require full repayment in a short time, most borrowers can’t afford to pay them off and end up borrowing again, leading to long-term financial hardship. 

Why you should avoid payday loans

While payday loans promise quick cash, they create long-term financial strain. Here’s why they are a bad option for most people:

• Sky-high interest rates: Payday loans can have APRs 10 times higher than traditional interest rate limits set by states. 

• Cycle of debt: Most payday loan borrowers roll over their loans multiple times, paying more in fees than the original loan amount. 

• Risk of overdrafts and bank fees: Lenders withdraw funds automatically, leading to overdraft fees and more debt. 

If you’re struggling financially, there are better alternatives to payday loans. 

Building an emergency fund to avoid payday loan   

One of the best ways to avoid the payday loan trap is by having an emergency savings fund. Even a small emergency fund can help cover unexpected expenses without having to rely on high-interest loans. 

• Start by saving a small, manageable amount, even if it’s just $10 per paycheck. 

• Set up automatic savings so you don’t have to think about it. 

• Use employer-based savings programs, you can set aside money directly from your paycheck to build a safety net. 

Having even $500 in emergency savings can prevent you from turning to payday loans when an unexpected expense arises. 

Better alternatives to payday loans 

Many employers offer financial wellness programs like FinFit, where you can access low-cost financial assistance, savings tools, and financial coaching. Log into your FinFit account to explore your options. 

• Local credit unions & nonprofits – Many offer small-dollar loans with lower interest rates and flexible repayment plans. 

• Negotiating bills or payment plans – If you’re struggling to pay rent, utilities, or medical bills, contact your service providers. They can offer payment plans or hardship programs. 

• Building an emergency fund – Even saving a little at a time can help create a safety net for unexpected expenses and keep you out of the payday loan cycle. 

Final thoughts: Payday loans are a trap! 

Payday loans prey on financial stress and make money problems worse. Instead of turning to high-interest loans, focus on building emergency savings and exploring better financial alternatives. 

If you need financial support, FinFit provides resources to help you manage debt, grow savings, and build financial confidence. Log into your account today to take control of your financial future—without the payday loan trap. 

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FinFit Learn  | Credit & Borrowing

Your credit score is affected by more than just your spending habits and bill payments, it can also be influenced by your living arrangements. Whether you live alone, with a partner, or with roommates, it’s important to understand how your housing situation can impact your financial health. Here’s what you need to know. 

Current roommates or financially linked partners 

Your credit score isn’t directly affected by your roommates or housemates, unless you share joint financial accounts with them. Many people open joint checking accounts, take out joint loans, or share utilities for convenience—but this can create a financial association that lenders will consider when you apply for credit. Types of financial associations that impact credit:

• Joint bank accounts 

• Joint credit cards or loans 

• Co-signed leases or mortgages 

• Some utility bills (if in both names) 

If you prefer to keep your credit separate, make sure bills are in one person’s name or that each person has their own designated accounts. 

Past roommates, ex-partners, or shared accounts 

Even if you no longer live with someone, any joint financial accounts from your past could still be affecting your credit. If you were previously married, in a long-term relationship, or had a co-signer on a loan, your financial association with them doesn’t automatically end when you move out or separate. Steps to separate financially from past housemates or ex-partners: 

• Close joint accounts: If you still share a checking account, loan, or mortgage, work with your bank or lender to close or transfer the account to one person’s name. 

• Remove yourself from shared bills: If utilities, credit cards, or leases are still in your name, ensure they are switched over. 
• Request a “Notice of Disassociation”: With major credit bureaus like Equifax, Experian, and TransUnion, you can formally remove past financial links. This helps prevent their financial behavior from impacting your credit. 

Verifying your identity with the credit bureaus 

Whether you live alone or with others, being listed on official records helps establish your credit profile. Lenders verify your identity using your address history, so ensuring your current and previous addresses are updated with the credit bureaus is essential. 

Why this matters: If your information isn’t updated, lenders may struggle to confirm your identity, making it harder to get approved for loans, credit cards, or even rental applications. How to make sure your address is up to date:

• Update your address with your bank, credit card providers, and credit bureaus. 

• If you move, update your address on important financial accounts immediately. 

• Check your credit report regularly through services like AnnualCreditReport.com to ensure your information is accurate. 

Your living situation affects your credit score more than you might realize, but with a few simple actions, you can protect your financial future: 

1. Avoid unnecessary joint accounts with roommates or partners. 
2. Fully separate finances when moving out or ending relationships. 
3. Keep your financial records and address up to date with credit bureaus. 

Understanding these factors can help you make smarter financial decisions and ensure that your credit score reflects your own financial habits, not someone else’s. 

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FinFit Learn  |  Family, Home & Lifestyle

Mother’s Day is all about celebrating the incredible moms in our lives—but showing appreciation doesn’t have to come with a hefty price tag. Whether you’re on a tight budget or just want to be mindful of spending, here are some heartfelt and cost-effective ways to make Mom feel special without breaking the bank. 

Plan a meaningful experience instead of buying a gift 

Instead of spending on expensive gifts, consider giving Mom the gift of time. 

• Cook her favorite meal at home instead of dining out. Set the table nicely, light some candles, and make it feel special! 

• Plan a picnic in the park with homemade snacks, fresh fruit, and her favorite drink. 
• Have a movie night at home with her favorite films and some homemade popcorn. 

Get creative with DIY gifts

Homemade gifts add a personal touch that store-bought presents can’t match. 

• Make a photo album or scrapbook filled with special memories. 

• Write a heartfelt letter or poem expressing your appreciation. 

• Create a “Mom’s Coupon Book” with thoughtful vouchers like “One free car wash,” “Breakfast in bed,” or “A day of no chores.” 

Take advantage of deals & discounts

Many restaurants, retailers, and online stores offer Mother’s Day discounts and promotions. 

• Check deal websites like Groupon for discounts on spa days, subscriptions, and experiences. 

• Look for Mother’s Day freebies (some coffee shops and dessert places offer free treats). 

• If you’re shopping for a gift, check out cash-back apps like Rakuten to save on purchases. 

Go the DIY spa route

Pamper Mom at home with an at-home spa day instead of an expensive salon visit. 

• Run her a bubble bath with candles and relaxing music. 

• Make a DIY face mask using simple ingredients like honey, yogurt, and oatmeal. Check out recipes here.  
• Offer a hand or foot massage to help her relax. 

Make her day special with small gestures

Sometimes, the smallest acts of kindness make the biggest impact. 

• Let her sleep in while you take care of the morning chores. 

• Write a gratitude list with all the reasons you appreciate her. 

• Spend quality time together doing something she loves, gardening, crafting, or just chatting over coffee. 

Show mom love without overspending 

Mother’s Day isn’t about how much you spend, it’s about making Mom feel loved and appreciated. With a little creativity and effort, you can make the day special without stretching your budget. 

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FinFit Learn  |  Family, Home & Lifestyle

June 1st marks New Year’s Resolution Recommitment Day, the perfect time to check in on the financial goals you set at the beginning of the year. If you’ve drifted off course, don’t worry! It’s completely normal to lose momentum, but the good news is that it’s never too late to realign with your resolutions and make meaningful progress. 

Earlier this year, we shared a Learn article, Simple Steps for Setting Financial Goals in the New Year, to help you create a strong financial foundation. Now, let’s revisit those principles and explore ways to refocus on your resolutions. 

1. Reflect on your progress 

Take a moment to review your original financial resolutions. Ask yourself: 

• What goals did I set? (Saving more, paying down debt, improving spending habits, etc.) 

• Where have I succeeded? (Even small wins count!) 

• Where have I struggled? (Identify roadblocks and challenges.) 

By acknowledging both your wins and setbacks, you can develop a plan that works better for you moving forward. 

2. Adjust your goals if needed 

Life happens, and sometimes our original resolutions no longer fit our current situation. That’s okay! 

• If a goal feels overwhelming, break it into smaller, more manageable steps. 

• If your financial situation has changed, reassess your priorities and adjust your savings or debt repayment plans. 

• If you’ve lost motivation, set a new deadline or find a fresh reason to stay committed. 

Flexibility is key—your resolutions should work for you, not stress you out! 

3. Create an action plan for the next 6 months 

Now that you’ve checked in on your progress, set new mini goals to carry you through the rest of the year. Here’s how:

• Write down your updated goals. Studies show that people who write down their goals are more likely to achieve them. 

• Set monthly check-ins. A regular review (on payday, for example) keeps you accountable. 
• Use tracking tools. Whether it’s a budgeting app, a savings tracker, or even a simple spreadsheet, tracking progress helps keep you motivated.

4. Build better habits 

If sticking to financial resolutions has been tough, focus on building habits instead of chasing perfection. 

• Automate your savings and bill payments to stay consistent. 

• Use the 24-hour rule before making impulse purchases—wait a day before buying non-essential items. 

• Find an accountability partner (a friend, family member, or even an online community) to keep you on track. 

Progress happens in small steps, so focus on consistency over perfection. 

5. Celebrate small wins 

Don’t wait until December to recognize your achievements! Celebrate small victories along the way:

• Paid off a credit card? Treat yourself to a movie night at home. 

• Stuck to your budget for a month? Take a guilt-free break from tracking for a day. 

• Saved your first $500? Reward yourself with something small but meaningful. 

Recognizing progress—no matter how small—keeps you motivated to keep going. 

It’s never too late to get back on track 

New Year’s Resolution Recommitment Day is your mid-year reset button—a chance to refocus and finish the year strong. No matter how far off track you feel, the most important step is the next one you take. 

Start fresh, adjust where needed, and keep moving forward. Your financial goals are still within reach, let’s recommit and make the rest of the year count! 

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FinFit Learn  |  Family, Home & Lifestyle

Father’s Day is a time to show appreciation for all the amazing dads and father figures in our lives. But celebrating Dad doesn’t have to come with a big price tag! Here are budget-friendly ways to make Father’s Day memorable while keeping your finances in check. 

Plan a fun, low-cost activity 

Skip the expensive gifts and give Dad the gift of a great experience instead. 

• Go fishing, hiking, or biking together for a relaxing outdoor adventure. 

• Have a backyard BBQ instead of going out to a pricey restaurant. 

• Play his favorite game! Whether it’s a round of golf, a board game, or video games. 

• Host a family movie night featuring Dad’s favorite films. 

DIY gifts that mean more

A homemade gift can often be more meaningful than something bought in a store. 

• Create a personalized photo album or frame a special family picture. 

• Write a heartfelt letter telling Dad how much he means to you. 

• Make a “Dad’s Coupon Book” with vouchers like “One car wash,” “One free lawn mowing,” or “A day off from chores.” 

Score deals & discounts

Many businesses offer Father’s Day discounts—take advantage of them! 

• Look for restaurant deals offering Father’s Day specials. 

• Check deal websites like Groupon for discounts on experiences like golf outings or brewery tours. 

• Use cash-back apps like Rakuten to save on any purchases. 

Get creative with a DIY home celebration

Turn your home into the perfect celebration spot. 

• Make Dad’s favorite breakfast and serve it to him in bed. 

• Put together a backyard camping experience complete with s’mores and storytelling. 

• Create a “Reasons We Love Dad” poster with the whole family writing messages. 

Show appreciation in small ways 

Sometimes, the simplest gestures mean the most. 

• Take over his usual chores for the day. 

• Watch his favorite sports game with him, even if it’s not your thing. 

• Tell him how much you appreciate him—a heartfelt conversation can be more valuable than any gift. 

Make Father’s Day special without overspending 

Father’s Day is about celebrating Dad, not draining your wallet. With a little thought and creativity, you can make the day unforgettable without spending much at all. Let’s make this Father’s Day one to remember!  

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FinFit Learn  |  Spending & Budgeting

April is Stress Awareness Month, a time to recognize how stress affects our daily lives and explore ways to manage it. Financial stress is one of the most common stressors Americans face, impacting mental and physical health, relationships, and overall wellbeing. If you feel overwhelmed by money worries, you’re not alone—and there are ways to take back control. 

In a previous FinFit Learn article, we explored the different types of money stress and how to reduce it. Financial stress can come in many forms, from worrying about debt to struggling with unexpected expenses or feeling unprepared for the future. Understanding what kind of financial stress, you’re facing is the first step toward managing it. 

How financial stress impacts your wellbeing 

Money-related stress can lead to: 

• Difficulty sleeping or concentrating 

• Increased anxiety, depression, or frustration 

• Avoidance behaviors like ignoring bills or avoiding conversations about money 

• Strained relationships due to financial tension 

These effects can take a toll over time, making it even harder to focus on financial wellness. But just as stress doesn’t appear overnight, reducing it takes time and small, consistent steps. 

Managing financial stress with small changes 

If financial stress is weighing on you, it’s okay to start small. The previous FinFit Learn article emphasizes the importance of identifying the root cause of your money stress and creating a plan to address it. Whether it’s paying off debt, building an emergency fund, or learning to budget better, the key is to focus on progress—not perfection. 

One of the best ways to relieve financial stress is to talk about it. Many people feel ashamed or alone in their money struggles but seeking guidance can help ease the burden. If your employer offers free financial coaching through FinFit, logging into your account and speaking with a financial coach could help you:

• Gain clarity on your current financial situation 

• Develop a realistic plan to reduce financial stress 

• Feel more confident in your financial decisions 

Sometimes, simply having a plan in place can bring immediate relief and a greater sense of control. 

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FinFit Learn  |  Spending & Budgeting

May is Mental Health Awareness Month, a time to recognize the importance of mental well-being and break the stigma around seeking help. While mental health can be affected by many factors, one of the biggest stressors for Americans is money. If financial worries are taking a toll on your mental health, you’re not alone, and help is available. 

How finances impact mental health 

Financial stress is a widespread issue in the U.S.: 

• 73% of Americans rank finances as their number one source of stress.  

• 52% of people feel that money concerns negatively impact their mental health.  

• Financial problems can impact your sleep, self-esteem, and energy levels. 

When financial stress becomes overwhelming, it can lead to: 

• Sleep disturbances and anxiety from constantly worrying about bills and expenses. 

• Lower productivity at work due to distraction and exhaustion. 

• Avoidance behaviors, like ignoring bills or avoiding financial discussions altogether. 

If this sounds familiar, take a deep breath—you’re not alone, and there are steps you can take to regain control. 

1. Talk about it – Discussing your financial concerns can ease anxiety. With FinFit, you may have access to financial coaching. A financial coach can review your situation, create a debt repayment plan, and set savings goals to build confidence and reduce stress. Log into your FinFit account to learn more. 
2. Take small, actionable steps – Financial stress can feel overwhelming, but small changes add up. Start by listing your expenses, automating savings (even $5 per paycheck), and using a budgeting app to track spending.
3. Prioritize self-care – Managing stress is just as important as managing money. Incorporate mindfulness, exercise, and journaling into your routine to stay mentally strong while working toward financial stability. 

Resources for support 

If financial stress is affecting your mental health, reach out for help: 

National Alliance on Mental Illness (NAMI): Free mental health support and resources. 

Consumer Financial Protection Bureau (CFPB): Financial education and debt management tips. 

988 Crisis Lifeline: Call or text 988 for confidential mental health support. 

And remember—if your employer offers FinFit, log into your account today to explore your options. You don’t have to navigate financial stress alone. 

This Mental Health Awareness Month, take a moment to check in with yourself. Your financial and mental health are connected, and support is available. 

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FinFit Learn  |  Saving, Investing & Retirement

Saving money can feel overwhelming, but what if you could do it in small, manageable steps? The 52-week savings challenge is a simple, gradual way to build your savings over the course of a year, with just a little effort each week, you’ll have $1,378 by the end of 52 weeks! 

How Does the 52-week savings challenge work? 

The concept is easy: start small and increase your savings each week. 

Week 1: Save $1 

Week 2: Save $2 

Week 3: Save $3 

…and so on, until you reach Week 52, where you save $52. 

At the end of the challenge, you’ll have $1,378 saved up without feeling like you had to make drastic changes to your budget. 

Why this challenge works 

• Starts small, builds momentum: The gradual increase makes saving feel easy. 

• Turns saving into a habit: By the time you reach the later weeks, saving is second nature. 

• A great way to fund a goal: Use the $1,378 for an emergency fund, vacation, or holiday shopping.  

How to make it even easier 

• Automate it: Set up an automatic weekly transfer to a savings account. 

• Reverse it: Start with $52 in Week 1 and decrease the amount each week—this can be easier if saving is tough later in the year. 

• Adjust it to your budget: If $1,378 is too much, try saving half the amount each week for a smaller goal. 

Ready to try the challenge? 

The 52-week savings challenge is an easy, structured way to build savings without stress. Start today and see how small steps can lead to big results! 

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FinFit Learn  |  Saving, Investing & Retirement

At FinFit, we’re proud to be a participating organization in America Saves Week 2025, happening from April 7th –11th . This annual event is both a celebration and a call to action, encouraging individuals to take charge of their financial future. 

Since 2007, America Saves Week has helped everyday Americans conduct a financial check-in, set savings goals, and create a plan to achieve them. With the support of thousands of participating organizations, this week is an opportunity to build better financial habits that lead to long-term stability and success. 

Each day of America Saves Week 2025 highlights a key financial theme. Let’s dive into what each theme means and how you can take action to strengthen your financial wellness! 

Monday, April 7: Saving Automatically 

Why it matters: Automating your savings ensures you’re consistently putting money aside without having to think about it. When savings happen automatically, you’re more likely to stick with it and build a financial cushion over time. 

Tips to save automatically:

• Set up direct deposit to move a portion of your paycheck into savings before you even see it. 

• Use round-up savings apps that round up your purchases and deposit the difference into savings. 

Tuesday, April 8: Saving for the Unexpected 

Why it matters: Life is unpredictable, and unexpected expenses—like car repairs, medical bills, or home maintenance—can throw your finances off track. Having an emergency fund helps you stay prepared. 

Tips to save for the unexpected: 

• Aim to save at least three to six months’ worth of expenses in an emergency fund. 

• Start small—even $5 or $10 a week adds up over time. 

• Keep your emergency fund separate from your checking account to avoid temptation. 

Wednesday, April 9: Saving for Major Milestones 

Why it matters: Whether it’s buying a home, going back to school, or taking a dream vacation, saving for big life events requires planning and consistency. 

Tips for saving for major milestones: 

• Set a specific goal and give your savings account a name (e.g., “First Home Fund” or “Dream Vacation”). 

• Determine how much you need and break it down into smaller, manageable contributions each month. 

• Consider investing in a high-yield savings account to grow your money faster. 

Thursday, April 10: Paying Down Debt is Saving 

Why it matters: Every dollar you pay toward high-interest debt is a dollar you free up for future savings. Reducing debt lowers financial stress and increases your ability to build wealth. 

Tips for paying down debt: 

• List all your debts, including balances, interest rates, and minimum payments. 

• Use the snowball method (paying off the smallest debt first) or avalanche method (paying off the highest-interest debt first). 

Friday, April 11: Saving at Any Age 

Why it matters: It’s never too early, or too late, to start saving! Financial goals evolve over time, but the key to success is building strong habits no matter where you are in your journey. 

Tips for saving at any age: 

• In your 20s & 30s: Start an emergency fund, contribute to retirement, and avoid lifestyle inflation. 

• In your 40s & 50s: Focus on paying off debt, increasing retirement contributions, and saving for long-term goals. 

• In your 60s & beyond: Protect your savings, explore ways to maximize retirement income, and enjoy financial freedom! 

Take action This America Saves Week! 

America Saves Week is the perfect opportunity to take a financial check-in, set goals, and build a plan for success.  

Get involved! Choose one or more of the daily themes and commit to taking at least one step toward improving your financial future. No matter where you are in your financial journey, small actions today lead to big rewards tomorrow. 

Let’s make America Saves Week 2025 your turning point toward a stronger financial future! 

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