For many consumers, 2024 was filled with financial challenges, and according to our predictions, 2025 will present much of the same: prices will be high and many people will struggle to make ends meet. As consumer data and stories show, there are some financial areas where people will feel more stretched in 2025 and ways that financial health resources can help meet those needs.

Transportation costs will put employment, education, and financial health at risk

With the cost of transportation, including car expenses, transit tickets, and ridesharing services, on the rise in 2025, following a demand for transportation financial health resources up 24% from Q2 2024 to Q3 2024, transportation health resources will be key next year.

Banks and financial institutions will be on point for disaster relief support

Daily expenses such as transportation may be where much of people’s expenses will go in 2025, but unexpected bills can hamstring consumers’ financial health for months or years. Hurricanes, tornadoes, and wildfires leave waves of destruction, upturned lives, and companies scrambling to support their customers and employees with financial relief. 

As natural disasters become more frequent and more severe in 2025 and beyond, companies can no longer wait for disasters to destroy their communities to organize resources; they must proactively plan for how to support consumers through difficult times.

As Gorey recently shared in American Banker, “Banks have an obligation to plan ahead for natural disaster relief.” Supporting customers means creating a centralized space for disaster relief resources, which SpringFour partners saw value in as they have been working diligently with consumers after Hurricanes Helene and Milton. SpringFour saw demand for resources rise by nearly 38% in Q3 2024 over Q2 2024, and a 144% increase year-over-year in Q3 2024 over Q3 2023.

Financial health and mental health will remain intertwined

Financial health challenges not only hit bank accounts, they can also take a toll on physical and mental health. A survey by MarketWatch found that 41% of respondents agreed that finances were destroying their mental health.

Student loan payments will continue to challenge consumers, second only to mortgage debt

Student loan debt is one bill that consumers may dread opening, and is now the second-largest consumer debt balance in the country second only to home mortgages, with nearly 42.8 million borrowers strapped with federal student loan debt.

While periods of forbearance put federal student loan payments on hold, payments will resume in February 2025 and organizations will need to prepare to support borrowers to avoid default.

Income-driven repayment plans, such as the SAVE plan, and other support for student loan borrowers will be crucial to helping them maintain their financial health in 2025, as loan forgiveness changes loom.

Financial coaches, agents, and counselors will be central to the solution

Accessing financial resources digitally truly helps consumers improve their financial health, but there’s no denying the need for human support in hand with digital tools. While data points are crucial to understanding where consumers will need the most support in 2025, stories from financial coaches, collection agents, and counselors, add to the picture to see how resources are part of the winning solution.

Learn more about how partnering with SpringFour can help your organization support consumers as they face financial challenges in 2025 by emailing us at impact@springfour.com.

Morgan Pierce

Impact and Communications Manager, SpringFour

As Thanksgiving approaches, we want to acknowledge how thankful we are to make a difference in people’s lives every single day.

While we talk about our impact with numerical data — and that matters — there’s nothing like real-life stories to show what our financial health solutions truly mean to people. 

See three of our recent favorites below from contact center agents, counselors, and coaches who use SpringFour to deliver real value to individuals facing financial challenges.

We wish you a happy Thanksgiving and, as always, our team at SpringFour wishes to thank you for your support and partnership. Together, we are proud to be part of the solution and grateful to work with you.

Responding to Hurricane and Natural Disaster Relief

Finding Employment

Getting Back on Track with Mortgage Payments

Rochelle Nawrocki Gorey, Founder & CEO, SpringFour

We are proud to announce the release of SpringFour’s Q3 2024 Impact Report!

The third quarter was like no other because SpringFour was acquired by C&R Software, a CORA Group company and subsidiary of Constellation Software, Inc., the 23rd largest software company in the world with an $80B market cap! 

Since 2005, we have connected millions of consumers with financial health resources via the banks, lenders, credit unions, employers, nonprofits, and other organizations that serve them. Most of all, we’ve put the win-win importance of financial health on the map. With this acquisition by C&R Software, we can confidently say that financial health is here to stay. 

Read more about our Q3 impact and how SpringFour is delivering much-needed support — when and where it’s needed.

​What’s Inside SpringFour’s Q3 Impact Report?

→ Impact metrics at a glance (page 3)

→ C&R Software acquisition details (page 4)

→ Natural disaster response and recovery (page 5)

→ Health insurance resources available for open enrollment (page 6)

→ One year of delivering transportation savings resources (page 7)

→ Supporting military families and accessing affordable childcare (page 8)

→ Self Financial and SpringFour Partnership Overview (page 9)

→ Panel at Financial Wellbeing Symposium and Top Women in Tech Award (page 10)

Why More Companies Are Creating Impact with SpringFour

More and more organizations are working with SpringFour to incorporate financial health into their bottom lines, driving valuable impact for consumers, employees, and organizations alike. We couldn’t be prouder of this work.

As Nicole Casperson wrote in a Fintech Is Femme feature on SpringFour: 

Here’s What You Can Do With This Report

Morgan Pierce

Impact & Communications Manager, SpringFour