09/17/2020

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SoFi Blog

Tips and news—
for your financial moves.

A little holiday help from SoFi

Happy Holidays from SoFi!

‘Tis the season for sitting by the fire with a cup of cocoa, a warm, fuzzy blanket, and your 2020 budget.

What’s that? Getting your money right wasn’t in the plans this holiday? No worries!

We’ve put together some tips to help you ring in the New Year a bit more mindfully when it comes to your finances.

From creating realistic spending targets to budgeting tips for couples, we’re here to help turn your 2020 into 20money. So pull up a chair, grab another snickerdoodle, and enjoy our collection of festive videos below.

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SoFi’s 2019 Year in Review

As 2019 comes to a close, we are eager to look back on the year and see how our members fared financially. From paying off student loans to getting started with investing, we found that members really focused on building their financial health this year—and they achieved a number of milestones along the way.

To really dig into the specifics, we surveyed over 1,000 SoFi members and 1,000 general consumers (ages 24-73)1 across the U.S. to get their insights on how they did financially in 2019, the key financial trends of the year, and the financial goals they hope to achieve in 2020.

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colorful peaks

Your October Monthly Market Commentary

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more. Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.

With the holidays right around the corner, the market continues to move upwards in the face of major geopolitical headlines and seemingly endless predictions of the next great downturn. October included some major news on stories we have been tracking for several months along with some new updates as companies announced earnings. As you recover from the sugar high after eating all of your kids’ candy (maybe that’s just me…), sit back and catch up on some highlights from October.

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debtfreetaxfree

Growing Momentum for DebtFreeTaxFree Movement

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more.
Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would also support our members (like now!), but we will be transparent about it when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.

On September 25, 2019, SoFi headed to Washington DC as part of the DebtFreeTaxFree Coalition, where like-minded organizations expressed support for House of Representatives bill, H.R. 1043 / Senate bill, S. 460 . Because these bills are so similar, support was being given to either/or, with SoFi’s general counsel Rob Lavet serving as our Capitol Hill representative.

Organizations met with 21 Congressional offices that day, meeting seven Congress members directly, to share stories about how this legislation could positively impact people in the United States who have student loan debt.

On that day, three more members of the House added their support and signatures to the H.R. bill—with more signing after that day—bringing the total number of signatures to 189 on the House bill and 46 on the Senate bill, making it a total of 235 members of Congress who support one of these bills.

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Are You Leaving Money on The Table?

Did you know that if you don’t negotiate your salary you could be missing out on up to $1 million dollars over a 45 year career?1

Last year, we introduced Get That Raise—an initiative that empowers our members to go out and ask for the money they deserve, while equipping them with the tools and resources to be prepared and have informed conversations with their managers.

This year, we’re expanding on our initiative to discuss why it’s important to go out and ask and stop leaving money on the table. We’re excited to partner with Allyson Felix, the most decorated Track and Field Olympian, who lived this experience firsthand.

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