March's Health + Wellness Pulse: Managing Debt

Did you know most Americans have some form of debt? Although it’s pretty common, debt can also create some real headaches when surprise expenses pop up or when your income takes an unexpected hit. This month, let’s take Just One Step to manage debt.

Your One Step This Month: Manage Your Debt

What Is Debt Management?

Think of debt management like giving your finances a good spring cleaning. It’s all about getting a handle on what you owe, making a plan to pay it off and finding ways to avoid debt problems in the future.

Common Types of Debt

Mortgage debt is by far the most common, followed by debt that falls into three major categories:

Credit Card Debt: Using a credit card means borrowing money to pay for things. Be careful, though—high interest rates can make this type of debt grow fast.
Student Loan Debt: College is expensive, and many of us have the loans to prove it. These loans can stick around long after you graduate.
Car Loan Debt: Cars can get pricey, and many people take out loans to buy them.

Webinar: Building a Foundation of Financial Wellness for Everyone

Join our partner Empower for a live webinar March 19, with a morning and afternoon session available so you can choose the time that works best for your schedule.

You’ll learn about key financial areas that need your attention and hear stories about people who have faced similar challenges.

Two Smart Ways to Pay Off Debt

Two popular methods to tackle debt are the Debt Snowball and the Debt Avalanche methods.

Debt Snowball

This method suggests you pay off small debts first to get some quick wins. Those wins can also be great motivation as you work your way up to the bigger ones.

Debt Avalanche

With this method, you first focus on paying off debts with the highest interest rates. This helps you save more money in the long run, since you’re not paying that extra premium.

Once you pay off a debt, put that old payment to work toward the next one. It all adds up over time!

What If the Debt Is Too Much to Manage Alone?

It’s okay to ask for help! Sometimes debt can be too complicated to manage alone. In that case, consider working with a credit counseling organization or a debt management company. They can help negotiate lower interest rates and consolidate your debt into one manageable payment.

Take Charge of Your Retirement Planning

As a Heritage employee, you’ve got great resources for your retirement questions.

Schedule a one-on-one session with a representative from our partner Empower on March 5 or 12 to ask retirement planning questions, review your savings strategy and confirm you’re on track.

To schedule a session, follow this link, select The Heritage Group - Virtual, and choose a date and time.

Save with This Heritage Perk

Heritage employees can purchase a new one-year Sam’s Club Membership for only $19.99.

In addition to enjoying premium quality brands, amazing perks and members-only prices year-round, you will receive one free additional household membership and a $20 Travel & Entertainment Credit.

To access this and other deals as a Heritage employee, please visit TicketsatWork.

You’re Invited: Learn How to Make the Most of Your Carrot Benefit in 2025

Join Carrot on Wednesday, March 26, at 12 noon EDT to learn how to use your benefit to support hormonal health, fertility and family building. During this webinar, Carrot will walk you through this benefit’s most impactful resources, including unlimited video chats with medical experts and specialists, expert-produced educational materials, recommendations for vetted and top-rated providers and supportive group sessions.

Plus, you’ll learn about the latest and greatest resources now available in 2025. Partners are welcome and all registrants will be emailed a recording. Save your spot today!