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, which highlights 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 good financial decisions for you and your family.

Improve your financial well-being

Financial well-being is an important part of your overall personal well-being. The MHealthy website includes information, programs, and university and national resources to help support your financial well-being. Learn about:

• What help is available if you have a need

• The basics of financial literacy

• Managing your money

• Managing your debt

• Understanding and improving your credit score

• Setting financial goals

Learn from a financial expert

MHealthy has partnered with U-M Credit Union to offer free, virtual workshops to the U-M community. Led by Mark Munzenberger, financial education manager for University of Michigan Credit Union, it's an opportunity to get guidance and tips in language you can understand. 

April 10: Save for Your Future Workshop

This workshop discusses the key habits that can lead to successful saving. Whether you are one year or 30 years from retirement, you’ll leave feeling better about your options moving forward!

Date: Wednesday, April 10, 2024
Time: 12-1 p.m.
Learn more and register now for the April 10 workshop.

May 21: How to Be Credit Healthy Workshop

This workshop will help you understand the do’s and don’ts of using credit, as well as help crack the code of credit reporting and scoring.

Date: Tuesday, May 21, 2024

Time: 12-1 p.m.

Learn more and register now for the May 21 workshop.

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

If you would like to learn more about your current well-being, including whether finances could be a concern, the confidential health questionnaire is also available. Active, benefits-eligible faculty and staff who complete the health questionnaire and set a healthy goal on the portal by May 31, 2024, will also earn a $75 reward.

View more financial well-being resources on the MHealthy website.