>> AND WELCOME BACK TO
YOUR CHEDDAR BROUGHT TO YOU BY
ALLY THE BANK THAT WORKS
RELENTLESSLY TO MAKE YOUR MONEY
WORK
FOR YOU. ACCORDING TO DATA FROM
THE CONSULTING COMPANY CAN'T
FAR LESS THAN HALF
OF CONSUMERS. FEEL LIKE THEY
HAVE CONTROL OVER THEIR
FINANCIAL SITUATION RIGHT NOW
AND JOINING US TO TALK ABOUT IT
IS AND THE LEASH ALLOW
SENIOR DIRECTOR OF PRODUCT AND
STRATEGY AT ALLY EMILY GREAT TO
HAVE
YOU ON RESEARCH
SHOWS FINANCIAL AND MENTAL
HEALTH STRUGGLES OFTEN GO HAND
IN HAND. HOW ARE YOU SEEING
SOMEONE'S FINANCIAL HEALTH
CONTRIBUTE TO THEIR MENTAL
HEALTH AND JUST OVERALL
WELL-BEING.
>> SO WHAT WE KNOW IS MANY
AMERICANS RIGHT.
>> NOW IS THAT YOU KNOW WE'RE
BEHIND ON OUR
LONG-TERM GOAL AND SO WHAT
TYPICALLY HAPPENS IS THAT
TRANSLATES TO A LOT OF STRESS
AND ANXIETY, ONE THING PEOPLE
THINK ABOUT
MONEY AND AND THAT HAPPENS AND
THEY'RE JUST THINKING ABOUT IT,
YOU KNOW THEMSELVES LET ALONE
HAVING A CONVERSATION WITH
THEIR SPOUSE OR SIGNIFICANT
OTHER OR THEIR FAMILY THEIR
FRIENDS. THE TOPIC OF MONEY IS
ALMOST HAVE TO BECAUSE OF THE
STIGMA OF STRESSING DIED, IT'S
TIED
TO IT AND WE WERE SPEAKING TO A
WOMAN WANTS ALL WE DID WAS ASK
FOR A SIMPLE QUESTION ABOUT
TELL US ABOUT YOUR RETIREMENT
PLANS AND SHE GOT VISIBLY
FLASHY STARTED FANNING HER FACE
AND
YOU STARTED TALKING ABOUT ALL
THE THINGS THAT SHE DIDN'T DO
HOW BEHIND SHE WAS AND YOU KNOW
SHE HAD
THIS VERY YOU KNOW REAR VIEW
LOOKING APPROACH TO HER MONEY
WHICH IS SO SHE ALWAYS HAD THE
SENSE OF STRESS BECAUSE SHE
ALWAYS SAW BEHIND BECAUSE OF
THAT ONE OF THE THINGS THAT WE
THINK IS CRITICALLY IMPORTANT
FOR PEOPLE IS TO STOP LOOKING
BEHIND YOU START FOCUSING ON
TODAY. AND THINK ABOUT HOW YOU
CAN BREAK THE SITE TO BUY THE
SMALL CHANGES THAT YOU CAN MAKE
TODAY AND IF YOU CAN DO TODAY
TODAY WILL BE COME TOMORROW
WHICH WILL BECOME THIS WEEK
THIS MONTH AND BEFORE LONG
YOU'LL BE MAKING MEANINGFUL
PROGRESS IN YOUR FINANCIAL
JOURNEY AND YOUR SENSE OF
STRESS IT WILL DISSIPATE AND
YOU WILL FEEL VERY MUCH
IN COUNTRY.
>> THAT'S REALLY GREAT ADVICE.
AMERICANS ARE FEELING THOUGH
JUST SO MUCH ANXIETY OVER THEIR
FIND AND SPECIALLY JUST BECAUSE
OF WHAT'S HAPPENING IN THE
WORLD. WHAT ARE SOME OF
CONSUMERS TOP CONCERNS AND HOW
ARE THEY COMBATING FINANCIAL
STRESS.
>> SO WE HAD THOUSANDS OF
CONVERSATION WITH CONSUMERS
OVER THE LAST COUPLE OF MONTHS
AND
WHAT WE'RE HEARING IS IT'S
PROBABLY TO BE EXPECTED THAT
MOST PEOPLE FEEL LIKE TIMES OF
BEEN REALLY TOUGH AND THERE IS
A
LOT OF YOU KNOW CONCERN AND
UNCERTAINTY ABOUT THE ECONOMY
AND REALLY WHAT THE FUTURE WILL
HOLD AND WHAT THAT IS
TRANSLATED INTO IS THAT YOU
KNOW PEOPLE REALLY STARTED
FOCUSING ON ON THE VERY NEAR
TERM AND THINKING ABOUT
SPENDING AND SAVING SO
WHAT MIGHT IN THE NEXT 30 DAYS
WITH MY DOING IN THE NEXT 60
DAYS AND THEY'VE REALLY STOPPED
FOCUSING ON LONG-TERM
PLANNING. SO YOU KNOW EVEN A
SIMPLE AS LIKE WHAT DO I WANT
TO
DO ABOUT VACATIONS NEXT YEAR
WE'RE SEEING A LOT OF PEOPLE
HAVE GONE INTO THIS WAY WHOLE
MENTALITY BECAUSE THEY'RE JUST
VERY FEW YOUR FULL, BUT WE ARE
STARTING TO SEE AND HEAR THAT
THERE IS AN ELEMENT THAT PEOPLE
ARE HOPING THE WORST
IS BEHIND US AND THAT THEY'RE
LOOKING FORWARD TO KIND OF LIKE
GETTING BACK TO WHAT
WAS THE NORMAL KIND OF
ENDEMIC LIFESTYLE.
>> ACCORDING TO CAN'T ARE 84%
OF MILLENNIALS SAY THAT FEELING
IN CONTROL OF THEIR FINANCIAL
SITUATION IS TIED WITH MANAGING
DRESS LEVELS. WHAT ARE SOME
TIPS TO HELP PEOPLE ACTUALLY
GAIN CONTROL OF THEIR FINANCES.
>> SO REALLY THE MOST IMPORTANT
THING THAT PEOPLE CAN DO IS
START THINKING ABOUT THEIR
MONEY THE WAY THEY
THINK ABOUT THEIR HOPES THEIR
DREAMS AND THEIR GOALS IN RIGHT
NOW.
>> WELL A LOT OF
THAT CAN.
>> ACTION IS LACKING SO WE ARE
FIRM BELIEVER IN SEEING IS
BELIEVING AND SO NO MATTER
WHERE YOU ARE IN YOUR PLAN
CHILDREN ERNIE, IF YOU CAN
WRITE
THINGS DOWN NOW OR HAVE YOU
BEEN ABLE TO ARTICULATE WHETHER
IT'S ON A PIECE OF CAKE AN
AFTERNOON OR INTO SOME SUPER
OKAY TO EXCEL MODEL THAT WE
KNOW SOME PEOPLE REALLY BELIEVE
WE THINK THAT THAT IS EXTREMELY
IMPORTANT SO
IF YOU'RE JUST GETTING STARTED
NOW AND MAYBE YOU FEEL LIKE
YOU'RE SPENDING TOO MUCH MONEY
WRITE DOWN WHAT YOU SPEND
LAST 30 WE'RE 60 DAYS AND LOOK
AT ALL THE MONEY THAT'S COME IN
ALL THE MONEY THAT'S GOING OUT
AND YOU CAN THEN IT BECOMES A
LAW EASIER TO DRIVE
IN ACTION. THE PLAN AGAINST NOT
THE SAME THING ON THE SAVING
SIDE, IF YOU IF YOU PUT MONEY
INTO A SAVINGS ACCOUNT, BUT YOU
JUST THINK ABOUT IT. IT'S LOUD
I THINK IT SOUNDS IS IT IS TOO
LOW THAT'S GOING TO GO BACK TO
THAT SINCE OF STRESS AND
ANXIETY, BUT IF YOU THINK ABOUT
IN A VERY DIFFERENT WAY WHICH
IS THAT IS NOT YOUR SAVINGS
ACCOUNT THAT IS RENEWING YOUR
VOWS AND ITALY
5 YOU'RE SURE NOW THAT'S JOEY'S
COLLEGE FUND THAT'S VISITING
YOUR MOM NEXT SUMMER THAT
BECOMES REALLY MEANINGFUL TO
YOU AND YOU'RE A LOT LESS WE TO
STICK TO YOUR PLAN OF
CONTRIBUTING TO THAT GOAL AND A
WHOLE LOT LESS LIKELY TO PULL
IT OUT AND
IT THAT THE WHOLE PREMISE IS
WHY WE LAUNCHED KIND OF OUR
SAVINGS BUT THAT STRATEGY NOW
AT THIS PAST YEAR BECAUSE WE
REALLY WANTED TO BRING THAT
VISUALIZATION AND
PERSONALIZATION
TO PEOPLE JUST START TO LOOK
PAST FINANCIAL PRODUCTS IS JUST
PRODUCTS BUT AS AN ANCHOR TO
THEIR FINANCIAL.
>> ALL'S I THINK THAT'S SUCH
GREAT TO WRITE DOWN WHAT
YOUR SPOT IN MONEY AND I
REMEMBER I I DID SOMETHING
SIMILAR AND I REALIZED I WAS
SPENDING SO MUCH
MONEY ON.
>> FOOD LIKE IT WAS INSANE.
IT WAS JUST A CRAZY AMOUNT OF
MONEY AND IT ACTUALLY
AND YEAH. WHAT ADVICE DO YOU
HAVE FOR INDIVIDUALS WHO MAY BE
UNSURE ABOUT THEIR FINANCES
DURING THIS UNCERTAIN TIME.
>> SO THE FIRST THING THAT YOU
CAN DO IS JUST HAVE A GRANT IT
GOES
BACK TO YOU KNOW IF YOU JUST
DON'T THINK ABOUT IT IT'S
YOU'RE NEVER GOING TO FEEL IN
CONTROL SO THE FIRST THING
A STAR WRITING DOWN THINGS THAT
ARE REALLY IMPORTANT FOR YOU
THE THINGS THAT YOU'RE AFRAID
OF AND START DEVELOPING THIS
FINANCIAL PLAN TO BRING IT
TO LIFE AND REALLY THE OTHER
THING THAT'S CRITICALLY
IMPORTANT FOR PEOPLE IS YOU
NEED TO HAVE SOME LEVEL OF
CUSHION FOR AN UNEXPECTED
EXPENSE THAT MAY ARISE OR
CHANGING YOUR KIND OF FINANCIAL
POSITION
AND SOME
LEVEL OF EMERGENCY SAVINGS SET
ASIDE IT'S GOING TO BE REALLY
IMPORTANT FOR YOU, SO YOU CAN
HAVE THOSE 2 THINGS HERE
ALREADY MANAGING TO A PRETTY
GOOD STARTING POINT
TO BUILD.
>> ALSO GREAT ADVICE AND REALLY
IMPORTANT IN TERMS OF JUST WHAT
WE'RE
GOING THROUGH I THANK YOU SO
MUCH FOR COMING LEAST ALLOW
SENIOR DIRECTOR OF PRODUCT AND
STRATEGY AT ALLY BANK CONSIDER
AN ALLY TO
HELP YOU REACH YOUR FINANCIAL
GOALS FROM BUILDING A COLLEGE
OR EMERGENCY FUND SAVING FOR
A DAY PAYMENT ON A HOME OR JUST
LOOKING INTO