Finance
I’m a financial planner — this is the one simple money habit you need to break in 2025
New year, new habits.
Shannon McLay, the CEO of financial planning service The Financial Gym, is shaeing the one spending habit that people should break in 2025.
Emphasizing “mindfulness,” the money guru says it’s time to delete easy payment apps off your smartphone, which allow you to make thoughtless purchases with just the click of a button.
“I always say we work really hard for every dollar that we make, so we need to make it hard to spend those dollars because it’s hard to get it in the bank,” she told TheStreet.
“But it’s so easy for us to spend money we spend on our phones. We spend it with credit cards on apps, and we don’t realize where it’s going.”
McLay says financial experts “hear all the time” that their clients have “no idea” where their money is going, with many saying they “make it and then it’s gone.”
She encourages people to be mindful of their money, even though it’s often anxiety-inducing.
“We see people who look to us very financially healthy and are feeling anxiety,” she said. “And when we feel anxiety about an area, we avoid it. We don’t want to dig into the thing that’s creating anxiety.”
As a result, people are “not going to look at” where their income is going.
One study last year found that 73% of Americans are stressed about their finances.
“So that’s one of the first steps we’ll say is being mindful of where your money is going and whether it’s tracking your expenses via an app or even just manually tracking it in the Notes app on your phone,” McLay advised.
“That process of paying attention where your money is going is really a good first step.”
Gen Z has also ushered in another financially savvy trends — “loud budgeting,” or being transparent about finances.
“They are saying there is no shame and guilt in their financial situation,” financial expert Julie O’Brien, the senior vice president and head of behavioral science at U.S. Bank, previously told Money.
“They are just saying, out loud, that healthy management of their money is something they value more than consumption and the curated, unrealistic ideals they see portrayed.”
Editor
Texas agriculture continues to face financial challenges that threaten the livelihoods of farmers and ranchers across the state. HB 43 by Rep. Stan Kitzman aims to address those concerns by strengthening the Texas Agricultural Finance Authority (TAFA) and expanding financial support programs to better serve farmers and ranchers.
During a
FORT DETRICK, Md.- Current times have many struggling with achieving personal financial goals, but fortunately Fort Detrick has a new personal financial counselor who is eager to help anyone interested on learning how to meet those goals. Meet in Rebecca Carlson, Rebecca has over 15 years in the finance field, and this is her first installation.
We sat down with Rebecca for a brief question-and-answer session to get a feel of what she hopes to do here and how she can help.
Q: What is your position here at Fort Detrick?
A: I am the new Personal Financial Counselor here at Fort Detrick. If you know Madeline Green, I am taking over for her. (Everyone remembers Mrs. Madeline Green. You saw her everywhere and she continued to entertain us all so many times with her dollar bill necklaces and sunglasses. Last year she retired)
Q: Are there specific educational requirements for this position?
A: I have a master’s degree in personal finances, and I hold the Accredited Financial Counselor (AFC) certification through the Association for Financial Counseling & Planning Education.
Q: What does that position require of you?
A: My focus is to assist Service Members and their families in achieving their financial goals. We can discuss debt, building/repairing credit, TSP, spending plans, large purchases, preparing financially to PCS, divorce, new babies, and anything in between.
An Army Personal Financial Counselor (PFC) provides essential financial support and education to service members and their families.
Their responsibilities include:
• Financial Counseling: They assist service members in evaluating their financial circumstances and setting financial goals.
• Education and Tools: PFCs offer tools and education to help individuals and families achieve their financial objectives and overcome challenges.
• Support Services: They provide face-to-face appointments, group presentations, and referrals to military and community resources for budgeting, credit management, and navigating benefits.
• Professional Guidance: PFCs are trained professionals who help service members address their financial concerns and provide referrals to appropriate services.
This role is crucial for enhancing the financial wellbeing of service members and their families.
Q: Any goals or what you hope to do while here?
A: My goal is to integrate myself into the units to ensure their financial success. As a fiduciary, I work in the best interest of the service member. I am not an advisor but am an educator.
Q: Can you assist anyone, contractors, active duty, DoD civilians, spouses?
A: I am a free and confidential service provided to Service members, and their immediate families.
Q: Will you host any training events or informational sessions?
A: I host multiple finance classes that change monthly, along with teaching whole unit classes. You can find information through the Fort Detrick Weeklies and the My Army Post App. Financial literacy training provides the pathway for sustaining financial wellbeing and resiliency with benchmarks of meeting all financial responsibilities, building wealth, and obtaining a sound financial future and a secure retirement. PFCs are beneficial in providing service members with training and resources to help avoid debt and create practical solutions for financial goals.
Q: Where are you located?
A: I am in Army Community Services located in building 1520, room 125.
Q: Any tips you can provide readers or resources you recommend?
A: Along with myself, below are a few of many great websites to gain information and guide service members. Military OneSource https://www.militaryonesource.mil/ Office of Financial Readiness https://finred.usalearning.gov/
Personal Finance Counselor prohibited services.
While PFCs provide valuable services through a wide range of financial readiness capabilities, there are several services that are prohibited.
Personal Finance Counselors cannot:
• Act as an agent for a military aid society in providing emergency financial assistance.
• Provide financial investment advice in specific investment funds/ opportunities.
• Make financial or financially related decisions on behalf of a client to include, but not limited to, TSP asset allocations, designation of beneficiaries for assets, etc.
•Perform inherently governmental functions such as certification training and responding to media queries on behalf of the government.
Personal Financial Counselors stay in their position for a minimum of 12 months, and then they can choose to stay in place or move to a new open position. We certainly hope Mrs. Carlson finds Fort Detrick
Rebecca Carlson is the new Personal Financial Counselor at Fort Detrick. She is available to provide free and confidential financial counseling to Service members, and their immediate families
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as special as so many of us do and decides to stay as long as she can.
Welcome to the Ft. Detrick team.
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