Financial Wellness is in Your Reach
Well, well, well! looks like January decided to give us Financial Wellness Month. It must know we all have some new goals and to start the year out right.
We found a perfect article that gives some great insight into saving for the future and making the right decisions for your life. I found a lot of the suggestions helpful and I hope you can too…or maybe you’re already right there with these suggestions! If so, then bravo, keep up the good work. I listed below the suggestions that the article gave me along with the link so you can read further into what they shared with us.
I hope you enjoy this article and please, if you have any insurance needs, reach out anytime to our main office, 707-463-1010. There might be some savings on your policy that we could look into!
Understand Your Life Goals
This is a good time to hit the reset button and re-look at your life goals. Understand if there are areas of focus and what steps are needed to get there. It is important to make SMART goals during this time. Goals that are specific, measurable, attainable, relevant, and time–bound. Having SMART goals help you stay on track to make sure that your goals are realistic to set during this time.
2. Lose Toxic Financial Beliefs
We all have some type of toxic financial belief whether we know it or not. Some common ones are spending outside your means by using credit cards, believing you don’t deserve financial wellness because of bad financial decisions prior, or you believe that you’re not capable of managing your money properly. Whatever those false beliefs are about your money, toss them out the window. This is a new year, and a new you.
There is a really cool quiz to take to uncover your money beliefs. It is called Klontz Money Script Inventory quiz <https://form.typeform.com/to/Bh9cPW>. I highly recommend that you take the quiz if you’re not sure what your money beliefs are. The quiz unlocks your deeply rooted beliefs about money, stemming back from childhood, and unconscious beliefs about finances.
3. Be Mindful About Your Finances
It seems like we are living in a fast-pace society, speeding through decisions, and not paying attention to the details. We sometimes forget about what we are actually doing and become robotic to life demands. According to Healthline, “anxiety and depression lead to a disconnect with our bodies. Our heads are in the clouds, and we’re not paying attention to the sensation in our bodies.” It is important to slow down when it comes to your finances. A pros and cons list are important to do first before making a big financial decision. Before spending money, ask yourself if this is something that you really need and if it’s serving the overall life goals you’ve set for yourself (found in step one).
4. Set a Budget
This might sound easy to do but it can be very challenging to set a realistic budget and continuous hold true to that budget. According to John Hancock, creating a 50-20-30 budget is ideal to do when creating a budget because it divides your paycheck into three categories: 50% for the essentials, 20% for savings, and 30% for everything else. If you’re a visual learner, it can be helpful to use the envelope system <https://www.johnhancock.com/ideas-insights/debunking-50-30-20-budgeting-rule.html> to see where your money is being spent on a daily basis as well.
5. Ask for Help
There is no shame in asking for financial help. It is important to get people in your corner to discuss ways you can get to financial wellness. Sometimes it is hard to get past the debt in front of you and you may need a professional to see past the emotions attached and align you properly. There are many ways right now to refinance and consolidate loans. Don’t be afraid to ask for financial help.
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