Financial wellness means creating a healthy economic life for yourself and feeling good about your financial situation. It is also an essential part of taking care of yourself and those around you.
When it comes to your finances, financial wellness can mean different things for different people. However, it encompasses these key areas:
Financial wellness can provide you with the freedom to make choices while living the life you’ve earned- literally. When you manage your money efficiently, you could have shelter, food, clothing, and participate in the broader economy. Financial wellness could also prepare you for future short-term and long-term expenses and emergencies that may arise.
National Financial Awareness Day is August 14th, 2021, and is a great reminder to examine your finances, work toward financial stability, and focus on preparing for your financial future. Use this day to start building financial wellness by doing something to protect your financial future and increase your stability now. You can start saving money in small ways every day. For example, choose to drink water while you’re eating out instead of ordering a drink from the menu. Or check for coupons in this week’s newspaper or online to save on items you regularly purchase. Additionally, consider saving for your financial future through investing. Educating yourself on financial concepts is another way to help you achieve financial wellness. Creating a budget that enables you to save and regularly contribute to your retirement savings can also help you achieve financial wellness.
When it comes to financial wellness, your financial professional can help evaluate your financial situation and provide you with ideas to become financially well. Financial planning that prepares you for the future is critical to your financial stability today and in the future. Work with your financial advisor to develop a plan that keeps you on track for achieving your goals.
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At Money Bridge Wealth & Income Planning we work with clients of all ages to plan for a successful financial future. We help clients gain financial peace of mind regardless of stock market and economic volatility. Whether you’re entering retirement or just planning for it, we can help you on every step down your financial path. Contact us today to get started.