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Thursday, January 7, 2016

financial wellness

So the new year has started and you have decided to take the higher financial freedom road. Whether you have decided to save money, get out of debt or simply make wiser financial decisions the world is yours and I hope you stay on the great road.

The starting point should of been by taking a close look at your personal financial status. Look at your income, expenses, and overall debt career. What does your financial future look like? It may look healthy and well put together or it could look hopeless where you want to throw in the towel Are you ready to accept responsibility for changing your financial situation?

January is National Financial Wellness Month. Since January is a month of resolutions and many of those have something to do with individuals financial information. Saving more, spending less, using coupons or whatever the resolution may be it can be met if you set your mind to it.

Two quick tips:

Pay yourself first. 
If you wait until the end of the month to see how much money is left over for saving, you’ll probably find that the answer is nothing. Pay yourself first, and then find ways to reduce spending to pay the rest of your bills.
Establish an emergency cash reserve. 
This will give you funds to deal with short-term emergencies such as a temporary job loss, a short-term disability, a major home repair, or a large medical bill. How much you need in the reserve will depend on your age, health, job outlook, and ability to borrow quickly.

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