To Ward Off Feelings of Financially Vulnerability, People Need a Plan.
Americans are feeling financially vulnerable and it likely starts with the absence of a comprehensive perspective on their finances, finds a new study from Northwestern Mutual. But there is hope, and you’ll find it at your local credit union.
According to the Northwestern Mutual study, one third of Americans (32%) do not feel they have a clear and accurate view of their whole financial picture, spanning both current obligations and future needs.
This may be a factor as to why only one in five (20%) feel “very confident” that they will be able to achieve their financial goals, the company said.
It’s not as if Americans are unaware of the importance of financial planning.
Far from it: when asked which they found more valuable, an overwhelming majority (89%) opted for “a feeling of comfort from knowing I am financially secure for the long-term” over “cash in hand today” while two in three acknowledged that their financial planning needs improvement.
A Lasting Feeling of Lasting Security Begins at Your Credit Union
Financial security begins with a plan, and planning begins with a visit to a credit union.
Why a credit union?
Credit unions are not-for-profit, and therefore aren’t motivated by the need to push you into financial products and services that make a lot of money for the institution – but aren’t necessarily in your best interests.
When you sit down with a professional at your CU, you can be sure that he/she is not simply trying to earn commissions and bonuses by selling you things.
Your CU has your own best interests at heart. After all, you become a part-owner when you join a credit union.
When it comes to your finances, think of your credit union as an all-natural anti-anxiety remedy.
Copyright Today’s Credit Unions