About HelloWallet Guidance

About HelloWallet Guidance

HelloWallet Guidance offers you a guided approach to reaching your financial goals and improving your financial life. Our Guidance is broken down into different components including:

Savings & Debt Guidance

HelloWallet’s Savings and Debt Guidance is a projection tool that allows you to see how much you are saving over time and helps you make your own decisions about how this will affect your financial goals.

The Projected Savings & Debt graph allows you to visualize how your goals affect your savings and debt levels over time.  You can view your savings and debt levels at a 6-month, 1-year, 5-year, or 30-year outlook in relation to your planned goals as well as emergency savings levels.

HelloWallet provides guidance for how much you should have in emergency savings by recommending emergency savings levels. You will also receive guidance related to each of your spending and debt goals based on factors such as your emergency savings levels or interest rates.

Score Guidance 

 


Score Guidance helps you increase your Financial Wellness Score. Score Guidance is broken down into steps that correlate to different components of your score. You will commit to spending less than you earn, save for emergencies, and pay down credit cards. We'll also help you take a look at the other pieces that make up your finances such as health expenses and insurance.

Score Guidance is broken down into steps to help reduce the anxiety that comes with managing your finances. Here, you can feel good about your accomplishments as you move from one step to the next. Each time you complete a step we'll send you a congratulatory email and a link to continue on your next step.

Note: You will need to complete each step before you are able to proceed to the next. If you find that you aren’t able to complete certain steps right away that’s ok! There is no rush and you can always come back to the Review Your Financial Life step to re-evaluate your plan.

  Retirement Guidance

 


Use the Retirement Guidance section to evaluate your current contributions and how that will project out over time to the age you want to retire. HelloWallet will offer recommendations to help you reach a target savings amount.  You can see how the recommendation will affect your projected retirement savings, commit to the new plan, and then track your progress towards that plan on an annual basis.

Spending Guidance


Spending Guidance helps you save for large purchases outside the your monthly Budget. Here, HelloWallet will offer you recommendations for spending in relation to your overall savings to make sure that any large purchases will not dip into your Emergency Fund.

Note: With the release of our new Savings & Debt Guidance feature, Spending Guidance will soon be going away. Create spending goals and see how they affect your savings with Savings & Debt Guidance.

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