GreenPath recently hosted a live virtual event where we were joined by guests who have been featured on GreenPath’s Real Stories Podcast. Guests included Katie (episode 1), Tammy (episode 2) and Dawn (episode 6).

Recorded in May 2020, this conversation gave our guests a chance to reflect on some of the positive things happening during this difficult time and areas where they are having newfound anxiety.

Throughout the conversation, listen for stories of how people have coped in the midst of challenge, along with practical tips for stretching your budget.

Real Stories Live is a great reminder that all of us are at different places in our financial wellness journey.

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4:00 Katie shares how the pandemic has caused her to become more intentional with her spending on food.

8:55 Tammy shares how she has found a way to pick up more work more from home and enjoy more time with her family.

19:00 Katie talks about the stress related to the uncertainty at her husband’s job in the near future.

24:54 Tammy has anxiety over returning to a tight budget, but confidence that they can work through a new plan if needed.

33:58 Dawn discusses the realities of living in a smaller house during quarantine and her perspective of talking to others with financial concerns during the pandemic.

37:02 Jessie weighs whether to deplete savings or use credit while preserving savings.

43:19 Jessie shares her observation that a number of expenses have been drastically reduced during the pandemic.

Each year, Dawn and her family faced an income reduction when her husband got laid off during the winter months.

An opportunity came to save a significant amount in their monthly budget, but it would mean downsizing to a much smaller home.

What was the right choice for their family, including their son?

As many of us face challenges from the financial fallout of the COVID-19 crisis, learn how one family made a difficult decision and how their lives changed.

Listen and learn how a difficult decision turned into the right path forward.

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1:02 Dawn discusses how her husband faced a longer lay off than their family anticipated.

3:09 Dawn’s husband proposes a major change: downsizing to a smaller home.

8:13 Dawn discusses how her son reacted to the news that they’ll soon be moving.

10:40 When they put their current home on the market, an interesting possible buyer emerges.

12:20 Dawn discusses how her husband is processing the major the change that is about to occur.

14:50 We are rejoined by Dawn 7 months later to discuss how things played out.

17:48 Dawn discusses how her husband has adjusted to the changes in their housing situation.

21:10 Dawn shares how her new budget has opened up new goals.

23:58 We learn who bought their old home and how they saved on realty fees.

26:53 Dawn gives advice to others based on what she learned from her own experience.

32:08 Each of our co-hosts shares a key-takeaway and a call to action.

Michele faced hardships from many different angles.  Her mortgage payment became unaffordable after her initial payment skyrocketed.  Her husband lost his job.  She subsequently got a divorce, lost the home and filed bankruptcy.  She continued to struggle to keep up with her household expenses after a consolidation loan only provided a temporary fix.  She finally opened up to a friend about how it felt to be unable to afford Christmas gifts for her children.

0:36 Michele provides an update on how she is coping with income loss and a totaled car in the midst of the pandemic.

12:54 Michele discusses how her mortgage became unaffordable and how she ultimately lost her home.

23:54 Michele shares about how it felt to file bankruptcy after her divorce.

29:46 Michele takes out a consolidation loan, but quickly realizes it’s not a long term solution.

32:22 Michele confides to a friend how it felt to not be able to afford Christmas gifts for her children.

36:14 A call from her daughter’s coach causes Michele to reach her breaking point.

37:52 Michele describes her initial call to GreenPath as “hitting the lottery.”

47:50 She’s now encouraging others to reach out to GreenPath for support.

56:59 Michele explains how her entire mindset around finances has changed.

1:03:34 Our co-hosts reflect on Michele’s story and what all of us can learn from it.

In this episode of Real Stories of Financial Wellness, we want to address people’s concerns about their finances and how to best manage them during the coronavirus (COVID-19) pandemic. There is a lot of information floating around about what people should do if they experience a financial setback due. We want to clear the air and provide some real advice from Kristen Holt, President and CEO of GreenPath Financial Wellness.

0:42 What can people do if facing an income loss?

1:34 Possibly save money with lower interest rates

1:54 Draw on assets with a plan

2:14 Look to liquid assets first

2:29 Make a plan to pay back savings

3:08 What about retirement savings?

4:05 Write a repayment plan into your budget

4:52 Are there any utility programs in place to help assist people at this time?

6:30 What about student loans?

7:01 Anything else people should be aware of?

Matt and Kendal each had a unique story that included financial hardships and bankruptcy. They met, fell in love and decided to “merge corporations.” Faced with the prospect of another bankruptcy, they decide to take a different route: a Debt Management Plan. But this route proved to be a bumpy road and they had to figure out how to stretch their budget enough to pay their debt and their household bills, and still put food on the table.

The solution? Designing new habits to automate their bill repayment– and a good dose of grit, humor and support for each other. Newly debt-free, they can now plan a life that includes making home improvements to accommodate their special needs son. Join us for a modern-day Valentine’s tale…

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GreenPath is a 60-year trusted national nonprofit, learn how GreenPath’s Debt Management Program can help you pay off your debt in 3-5 years, while helping you develop sound financial literacy.

1:00 Matt & Kendal “merge corporations.”

2:05 A conversation at a gas station becomes a turning point.

5:40 Kendal shares how her family’s medical debt snowballed.

7:09 Matt and Kendal share how they stretched their budget to put enough food on the table.

11:19 They figure out how to automate their finances.

16:11 Opening the mail becomes an adventure.

17:59 Matt & Kendal discover that they’re not alone.

18:52 Matt receives some really good news with Kendal.

21:10 They’re finally able to explore home improvements to accommodate their special needs son.

24:30 Kendal has anxiety over giving up control of their debt repayment.

26:24 Matt & Kendal have a friendly competition where they’re both winners.

Meet Tammy. Tammy’s husband is handling the family’s finances and becomes concerned that their debt is spiraling out of control. He approaches her with a plan to work with GreenPath Financial Wellness to become debt-free. What starts out as a challenge becomes a turning point in their marriage and growing family. Tammy finds out that one of her superpowers is managing their budget and together, they pay down their debt. In her own words, Tammy shares what it was like before, during and after their Debt Management Plan.

1:40 What prompts Tammy and her husband to reach out for financial counseling?

3:40 How does addressing their financial concerns become a turning point in their marriage?

7:25 What is their experience like starting a Debt Management Plan?

10:35 What is it like to connect with other people going through a similar experience?

11:25 How is it possible to move across the country while continuing to pay down their debt?

13:11 Why is GreenPath happy to “cancel” their program?

16:23 How do they maintain their momentum after becoming debt-free?

17:18 Would they have done anything differently with their finances when they were younger?

18:18 What advice do they have for people in similar circumstances?

21:21 Our hosts reflect on the lessons learned from Tammy’s story.

Meet Katie. Retail credit cards became her best friend shortly after college. Home alone with her 4-month-old in a place where she didn’t know anyone, she turned to shoes and designer handbags. Being a military family resulted in multiple moves and income instability. Eventually, her grandma came to the rescue and helped get her debt under control. But that was only short-lived. She eventually found herself divorced with two small kids, without a job and in $26,000 of credit card debt.

Katie turned to a nonprofit credit counselor to get back on track. She had found someone who supported her and did not judge her—even when her payments became unaffordable. After many ups and downs, she eventually completed her debt plan five years later. And when she was looking for a job, she found an organization that helped others in the same way she had been helped. Now, she’s able to take her passion and skills to pay it forward.

GreenPath Financial Service

GreenPath is a 60-year trusted national nonprofit, learn how GreenPath’s Debt Management Program can help you pay off your debt in 3-5 years, while helping you develop sound financial literacy.

1:40 Katie gets a new “best friend”… retail credit cards.

6:45 Katie discusses how loneliness and depression led to a shopping addiction.

9:00 How spreadsheets helped feed her shopping addiction

10:21 Why her joint debt with her then-husband ended up in her name

13:00 The Bank of Grandma comes to the rescue!

15:29 Katie buys a house… but is she ready to do so?

20:14 Katie is saddled with $26,000 in debt while jobless and divorced with two kids.

22:26 Katie can finally get a good night’s sleep after receiving a helping hand

26:00 Five years after enrolling in a Debt Management Plan, she makes her final payment!

27:40 Katie lands a job where she can help people who are in the same boat as she was.

29:40 Alex, Brad and Chris (our co-hosts) reflect on Katie’s story and how her emotions played into her money situation

We are excited to announce our first podcast, GreenPath Real $tories — Financial Wellness. The podcast shows that our financial lives are more than a number. Our guests will share their money journeys in their own words. Expect authenticity, vulnerability, and a little bit of inspiration.

In this special preview episode, you’ll meet our first six guests. Katie, who faces a shopping addiction. Tammy, who finds success after she and her husband let go and decide to be their authentic selves. Matt and Kendall, who face the prospect of filing bankruptcy a second time. Angela, who finds a dream home that almost turns into a financial nightmare. Dawn, who openly talks about her own difficult financial decisions when she helps others. And Annie, who despite a difficult financial journey to returning to college, is enjoying the intention behind her progress.

GreenPath Financial Service

Take control of your finances, get tailored guidance and a hassle-free budgeting experience. GreenPath offers personalized advice on how to manage your money.