Is Financial Wellness Within Your Reach?

Financial Wellness means different things to different people.

When surveyed some of the answers to “What is necessary for me to take the next step toward financial wellness”:

• Getting rid of my credit card balance
• Not living paycheck to paycheck
• Having money in the bank for a “nice” vacation
• Having a sizable rainy day fund – just in case….
• Being able to afford some much need home improvements
• Having a sufficient savings plan for my kids future college costs
• Being able to afford to save a lot more toward retirement

Chances are that one or more of these ring true to you.

Well, what can you do to get started on your journey to more financial wellness?

In a word, “discipline”. It takes real discipline to change any habit and finances are no different.

I’ve run across clients with all these issues and yes, it does keep them up at night and keeps them from having the wonderful peace of mind they deserve. The problem for many people is that their finances and spending simply blow with the wind.

For example, if their child wants to sign up for travel soccer (even though they will never practice outside of the team’s practice) they agree and sign them up to play. Twelve hundred dollars and a gazillion hours of commuting time to and from games and practices later parent’s wonder why they don’t have much money in the bank.  It’s especially tough these days to say “NO” to kids activities. They have gotten very expensive and is a big reason that parents have little financial wellness. Try SAYING “NO” more often.

Dining out is another big money pit for parents on the go. The idea of the whole family gathered around the dinner table is becoming a rarity for many families. As sad as this is, the money spent of restaurant food is a huge budget buster and a bid reason you may not be able to check all the boxes above that keep you from having financial wellness.

Replacing technology and cars sooner than you need to. Of course car, TV and high tech manufacturers try to convince you that you need to upgrade. Apple is the best at that. The iPhone 7 was incredible and the be all end all until the iPhone 8 & 10 came out.  Stop losing the game to sexy marketing come ons that impulsively get you to buy what you truly don’t need. THIS IS STOPPING MANY PEOPLE FROM HAVING THE MONEY THEY WANT FOR THEIR PEACE OF MIND AND FINANCIAL WELLNESS.

The best way to help you say “no” is to not have the funds to say “yes” available. That might mean not having a credit card except for gas, travel and emergencies. It might mean that when you paycheck hits your checking account, you transfer the money right out to an outside savings account or investment to help fund your goals. Automating these transfers is the best idea I can give you. I’m like most people and if I didn’t have multiple transfers to fund the accounts that will pay for my goals, they would never be funded. When was the last time you wrote a check and mailed it in to an investment company?

If you do one thing start or increase an auto savings or investment account today.

Financial Wellness is attainable. It’s doesn’t happen over night, but you need to take the next step asap or risk never having the comfort possible by attaining your goals.

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