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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness Network. I’m Jessica.

(John) And I’m John!

(Jessica) And today we’re talking about credit card debt. Hmm. That’s a tricky one, John.

(John) It can be. Particularly if you have multiple credit cards with significant balances.

(Jessica) Is it a good idea to consolidate all the cards into one debt, one payment?

(John) Consolidation can be helpful if used wisely. If you have multiple debts with varying interest rates, bundling them together has two notable benefits. The first is that ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness Network. Today, we’re talking to employers on how to help your employees deal with financial stress.

(John) Well, Jessica, with prices on everything going up, everyone is feeling the squeeze. That can affect job performance, productivity, job satisfaction, and overall physical and mental health.

(Jessica) So, what can an employer do to help relieve the stress?

(John) Well, the first step is to have a conversation to determine if there even is a problem. Second, offer ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness Network. I’m Jessica.

(John) And I’m John! And we’re talking about what to do when your budget gets out of whack and just doesn’t add up.

(Jessica) Is budgeting a four-letter word? I mean … it seems difficult to me.

(John) It can be daunting at first, but if you keep it simple, it’s easier to stay on track. Divide your expenses into three categories, and use the 50-30-20 rule. Fifty percent of your income should ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness Network. I’m Jessica.

(John) And I’m John!

(Jessica) And today we’re talking about the debt avalanche approach to debt repayment! John, how does the debt avalanche strategy work?

(John) Well, Jessica, this is a great approach to debt repayment when facing high-interest rates. You order your debts by interest rate from highest to lowest. The plan is to pay off the highest-interest-rate debt first while maintaining the minimum on your other debts.

(Jessica) Right, and once that debt ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness Network. I’m Jessica.

(John) And I’m John!

(Jessica) And today we’re talking about how to avoid overspending on credit cards.

(John) You know, Jessica, credit cards can be helpful tools and a great way to manage your money when used wisely, but it’s easy to reach for them a little too often and get buried in credit card debts and fees. A great way to avoid overspending is to treat purchases as if you’re paying with ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness Network. I’m Jessica.

(John) And I’m John!

(Jessica) Today, we’re talking about financial wellness, which is a whole-picture view of an individual’s financial health. So John, what does it mean to be financially well, and how do we get there?

(John) Well, Jessica, basically financial wellness means that you are in control of your money rather than your money being in control of you. It means you match your spending to your priorities and your goals ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness Network. I’m Jessica.

(John) And I’m John!

(Jessica) So, you wake up one day and realize your budget is blown. It’s a mess.

(John) Look, Jessica, it happens. So, first, stay calm and assess the situation! What caused your plan to get off track?

(Jessica) Sometimes those things are out of your control.

(John) Exactly. The next step is to act on the things you can control. Take an honest look at your budget. Is it realistic? Are you living ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness network. I’m Jessica.

(John) And I’m John!

(Jessica) And today we’re talking about debt and snowballs? What’s that about?

(John) The debt snowball is a method for reducing debt. Like a snowball, it starts small and gets bigger.

(Jessica) So, how does it work, exactly?

(John) With the debt snowball approach, you focus on paying off your smallest debt first while maintaining the minimums on other payments. Once that first debt is finished, you apply those payments ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness network. I’m Jessica.

(John) And I’m John!

(Jessica) And today we’re talking about what to do when your budget blows up. Uh-oh.

(John) Uh-oh is right. Just when you think you have a good plan and everything is under control, here comes inflation, high gas prices, and …

(Jessica) So, what do we do?

(John) First, make sure you know why you’re off track. Did you have some unexpected expenses? Did you splurge on a vacation? Or did ...

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(Jessica) Welcome to Money Matters on the Southern Bank Financial Wellness Network. Today, we’re talking about what to do when your rent goes up.

(John) Unfortunately, rent is going up just about everywhere. And it’s best to be prepared.

(Jessica) So, what do you suggest?

(John) Start by looking at options. For instance: Is it time to move or find a roommate? You can also talk to your landlord so you know what kind of increase to expect and when it is coming.

(Jessica) ...