ATTENTION HOPES Patients: HOPES operations for all locations will be closed on July 4, 2024 to observe the holiday.

 ATENCIÓN Pacientes de HOPES: Las operaciones de HOPES en todas las ubicaciones estarán cerradas el 4 de julio de 2024 para observar el feriado.

Healthy Money Habits Newsletter – March 2020

Time to Spring Forward

Time to set your clock forward one hour. Some see this as a loss of time to sleep, while others see it as just something else we have to do so they adjust their sleeping schedule. What do you think? What can you do with one hour, sleep, read? Many people do not spend enough time on their finances and often overspend. How about spending one hour a week with your finances to monitor where your money goes. You may be surprised with what you find.  Try it; you will be glad you did!

You got a tax refund; now what?

Congratulations, you are the recipient of a tax refund.  No matter how big or small, a refund is still a refund. Sometimes, getting one seems like you have hit the lottery, suddenly you have more money in your bank account. That is exciting! So what are you going to do with it?  According to the Penny Hoarder, one of the nation’s largest personal finance websites, your tax refund is not a “gift card.” It is your hard-earned money so use it wisely.

Check out the following tips.  
  1. Build up your emergency fund
  2. Pay down debt
  3. Contribute more to your retirement
  4. Save for a big bill you know is coming
  5. Invest in yourself
  6. Save for your kids’ college education

Dear Financial Coach…

Q: I am 19 years old and do not have credit. I have heard that this is a good time to start building it and I am thinking about getting a credit card. First, I want to weigh the pros and cons. Do you have any tips?

Dear Reader:  Thank you for your question.  It is not a bad idea to start thinking about building credit. One thing you have to keep in mind is your future. What does that look like for you? Is buying a house or a car part of that future?  If so, then credit will play a big part making that happen. If you are thinking about a credit card, experts recommend looking into a secured credit card that has a low limit to start building credit.  For more information, contact the financial coach.

What is the Healthy Money Habits program all about?

Healthy Money Habits is a program available to Northern Nevada HOPES patients, free of charge.  We are here to help you reach financial wellness by providing financial education, financial coaching, and additional services that help you set and achieve financial goals. We are not financial advisors or counselors, but we are dedicated to improving your financial health, empowering our community, improving financial literacy, and decreasing stress resulting from financial issues. Remember that financial health is part of your overall health!

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HOPES is thrilled to welcome our three new board members Maria Sandra Jimenez, Ph.D., Susan Fisher, and Katelyn Cantu! They will help play a vital role in HOPES' strategic vision, bringing more access to medical and behavioral health care to our community.