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National Savings Day

Celebrated annually on Wednesday, October 12th, National Savings Day reminds people of the importance of savings, as it can be an essential function to live a healthy life.

The increase in gas, food, and other essential items has altered many aspects of everyday life, making people question if they really need to take that vacation, if they should push off retirement, or lower their savings contribution. People are budgeting with the hope they can spread their current resources thin enough and ensure the hard work and sacrifices they make can provide for themselves and their families. The current economy has everyone asking questions and making sacrifices that they feel will make the biggest impact. People’s relationship with money and savings has changed, and not for the better.

Having a positive, or even neutral, relationship with money is important as it affects almost every decision people make. National Savings Day gives you the time to think about your saving (and spending) habits and what you can do to improve if you’re not saving quite enough. Saving doesn’t have to be painful. There are lots of easier ways to save to bring your dreams within reach.

How can you celebrate national savings day?

  1. Overcome your fear and check your credit report. Commit to reviewing your credit report so you can address any inaccuracies you may find. Every year, you are entitled to a free credit report from the three credit bureaus: Equifax, Experian, and TransUnion. Doing so will put you on more solid footing and prepare you for the future.
  2. Sign up for free debt counseling. There are free debt counseling services that can work with you to develop a workable budget, negotiate with creditors on your behalf, and help you prepare to buy that first house. Use National Savings Day as a springboard to a new, debt-free life.
  3. Attend community events and use free resources. You don’t have to spend money every time you want to have a good time. On National Savings Day, challenge yourself to see how many events or activities you can find that don’t charge admission. Now’s the time to be creative while you’re saving those bucks.
  4. Plan Your Estate. Just like any other significant economic occurrence, the current circumstances are one more reminder of the importance of establishing an estate plan. A diversified plan can address many of people’s most common concerns regarding expenses, your obligations, and the legacy you hope to leave. You can explore options like giving to your family, scholarship, educational institute, or healthcare facility.

If you’ve never been a saver or want to explore tackling your financial problems, people and resources are available to assist you in building better financial habits. Specifically, if you are worried about healthcare spending, Southwest Health has Patient Financial Counselors available to help assist you.

Heather Wilkinson is one of those counselor who help patients every day either by helping people understand their bills, estimating how much services cost, deciphering insurance, or assisting people decide what payment options are best for their individual situation.

“As a patient financial counselor, I help educate patients on various things. From applying for our financial assistance program, setting up payment plans, processing in-person and over-the-phone transactions, and addressing any other issues/concerns patients may have with insurance and/or billing. I work closely with our insurance billers in our Patient Financial Services department to ensure they have the correct and accurate information to process insurance claims for patients in an accurate and timely fashion. The best advice I can give as a patient financial counselor is, “Ask for help if you are struggling financially to pay your healthcare bills.” Southwest Health has resources available for patients if they are struggling. We are willing to educate and work with patients to help them through the process. We are here for you!” Heather Wilkinson, Southwest Health’s Patient Financial Counselor

Thinking about money doesn’t have to be scary. You shouldn’t feel like you need to avoid opening a bill or checking your credit card statement. Take the first step towards better financial literacy today. If you’d like to set up a meeting a Southwest Health Patient Financial Counselor, call 608-348-2331 Ext# 1957 or email, pfs@southwesthealth.org.