Employee Well-Being

Mayo Clinic is here to support employee well-being with engaging activities through the COVID-19 season. Explore this website for opportunities to support your social well-being, engage your families and friends in safe activities, and thrive (not just survive) during this time.

Nov 11, 2020

Balance Finances

By nicoleblock, @nicolerawlings
Financial stability is on the horizon. 
A 2017 report in MarketWatch found that half of American households currently live paycheck to paycheck. Living without a budget is like traveling without a roadmap. There’s no better time than now to get on the path to an important destination: Financial Well-Being.
Most affluent people have grown their wealth through the use of a structured budget—you can too. Budgeting activities provide substantial benefits in personal financial health by acting as your road map to financial freedom and helping to reduce stress, align priorities, increase savings, and accelerate your financial goals. With a bit of planning, you can have everything you need to be fiscally fit and financially free.
Financial Well-Being will help you come up with a strategy to commit to your personal financial goals, live below your means, and develop the willingness to make the necessary adjustments to be successful.

Use these quick tips and make it a habit to Balance Finances
  • Paying off high-rate debt such as credit cards is key to getting ahead financially. Consider using tips from 10 Easy Ways to Pay Off Debt.
  • Creating and sticking to a budget will reduce stress, prioritize spending, and create healthy financial habits. Check out these MEFCU budgeting tools.
  • If you have educational debt, be sure that you understand your repayment terms, and seek help from your student loan servicer if you have questions.
  • Understanding your employee benefits can help you reduce your taxes, out-of-pocket expenses, and more! Visit HR Connect from the Mayo intranet page for assistance.
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