Loose Change

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Loose Change provides benefits, tools and resources that allow our subscribers to improve their financial situation one day at a time through our HealthyHabits 4 Pillars of Financial Wellness.

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MARCH FEATURE
Est. Time of Read: 5 Minutes

HealthyHabits
Author: HealthyHabits

Small changes can lead to BIG results! It's true. Whether it's getting in shape, losing weight, learning a new skill, changing a behavior, or financial wellness, small changes can make a dramatic difference in your life.

Many people look for immediate, long-lasting results in whatever they are trying to accomplish, however this is rarely successful. In most cases the best, and most sustainable success comes from accomplishing the objective over time, gradually conditioning behaviors to become a part of your normal routine. As they say, slow and steady wins the race!

In this issue of Loose Change, we'll talk about one of HealthyHabits core pillars of financial wellness, Save Well.

If you're not already aware, HealthyHabits is an award-winning platform offering members a variety of valuable benefits, perks, and resources designed to help you live your best life. HealthyHabits pillars of financial wellness include Borrow Responsibly, Save for Today, Plan Now and Spend Smart.

In this issue of Loose Change, we'll dive into Borrow Responsibly.

We all have financial obligations, whether they are consistent monthly expenses such as rent or mortgage, auto loan, insurance, utilities, food, clothing, and education. As well, from time to time we may also encounter unexpected expenses, ie. medical costs. This could be a health insurance deductible or co-pay, prescription medications, a required medical device, or an unplanned procedure that requires out-of-pocket payment. You certainly want to get the care you need, when you need it, however you may not be able to afford it. In fact, millions of Americans face this very same issue every day.

What then? - Delay or decline care? Or find a loan, perhaps a payday or a short-term loan? These are certainly not ideal options, as interest rates can be up to 21% or even more. Or perhaps you charge the medical expense to your credit card or apply for a health care credit card. These are also costly options and can impact your credit score, as well charge high interest rates that can dramatically increase the total amount you'll pay, and may force payments for years.

Thankfully, there are alternatives to help with your out-of-pocket healthcare costs.

Early Wage Access. Many employers offer access to earned wages before payday. Financial institutions may also offer this service at no-cost or a modest fee. Early wage access allows you to receive wage dollars earlier than you normally would, and this can be very helpful should you encounter an unexpected or emergency medical expense. If you're a member of HealthyHabits, stay tuned - in the coming months we plan to offer early wage access as an optional member benefit! This can certainly be an effective solution to help pay for an unexpected medical expense.

Health & Wellness Round Ups. This is another great way to save money and help pay for healthcare costs. Round up programs allow you to save money to a dedicated account by "rounding up" debit and credit card purchases to the next dollar, or another multiple that you define. Round ups from daily purchases and transactions can quickly add up to hundreds of dollars. This happens through small increments, barely even noticeable because they are just "cents" per transaction, or a couple dollars if you choose a higher round up. It's an extremely effective way to save without creating a burden on your household budget. And before you know it, you can have hundreds of dollars saved up for unexpected expenses. This is another valuable member benefit coming soon from HealthyHabits!

0% Interest Healthcare Line of Credit. Yes, you read that right! Imagine being able to set up a 0% interest payment plan to help pay for out-of-pocket healthcare costs, including medical, dental, vision, prescriptions, and medical devices. This valuable benefit is currently available for all HealthyHabits members. There is no credit check required, and members are pre-qualified for a minimum $1,000 line of credit to help pay for their out-of-pocket healthcare expenses, and budget-friendly payment options start at just $20 per month. With 0% interest, you're not paying hundreds, or even thousands of dollars more than the cost of your care as you would with short term loans or credit cards. If you're in a pinch and looking for an option to pay for your medical care, the HealthyHabits 0% interest healthcare line of credit could be a terrific option.

As you can see, there are budget-friendly options to afford the care you need, when you need it. Before taking out a high interest loan or charging your medical expenses on a credit card we urge you to explore these options, you'll be glad you did!

As we like to say, small changes can lead to big results. When it comes to your finances, slow and steady wins the race!

The Solution to
High-Deductible Healthcare

No Interest (0%) Line of Credit to help pay for healthcare costs

• Pre-qualify for a minimum $1,000 line of credit

• Utilize the line of credit to pay for healthcare deductibles, co-pays and out-of-pocket medical expenses

• Line of Credit can be accessed 24/7/365

Includes access to Member-Only Discounts, Rewards, and Wellness Resources.

Plus! Save up to 40% off at 300,000+ national, local, and online retailers.

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