Improving Financial Wellness
Indicators that you are maintaining good financial wellness are:
- Having a comfortable and relatively low stress relationship with money
- Income and expenses are balanced: you can easily cover expenses and make debt payments
- You continually educate yourself on financial maters
Improving financial wellness can reduce stress in a big way, as financial uncertainty affects us in all parts of our lives. So what are some good ways to start improving financial wellness?
- Get control over your expenses: know where the money is going and determine if there are areas where spending can be reduced.
- Create and maintain a money management strategy or budget that works for you
- Set up an emergency fund: over time build up cash to cover 3-6 months of expenses
- Determine long term financial goals: pick ones that are meaningful to you!
- Educate yourself through credible resources: attend an Empower webinar, make an appointment with your financial advisor, or check out the Smart About Money courses for a high-quality foundation of knowledge.
- Make sure you understand your benefits, so you are taking advantage of all that can help you
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