National Financial Awareness Day is August 14th, 2021, and is a great time to examine your finances, work toward financial stability, and focus on how to become more financially aware. You can start building financial wellness by doing these seven simple things to help protect your financial future and increase your financial stability:
When dining out, make choices that save you money. For example, choose to drink water instead of ordering a drink from the menu. The same mentality when shopping for what you need versus want helps decrease spending, which allows you to save and invest more for your future. This is the first step in learning how to become more financially aware.
Save on items you regularly purchase but choose other manufacturers that offer a discount coupon. Additionally, consider saving for your financial future through investing.
Financial education is another way to help you achieve financial wellness. The more you know, the more likely you are to make sound financial decisions for yourself.
Budgeting is a great way to learn how to become more financially aware. Budgeting for expenses enables you to save and plan accordingly for each month’s payments versus not having enough money to pay your bills.
Saving today can help you achieve financial wellness in retirement.
Investing your money has the potential for a higher return than having it in a savings account. The higher the rate of return, the more you will earn on your investment. Deciding to invest involves setting a goal, assessing your income, age, risk tolerance, and the time horizon until you liquidate your investment.
Your financial professional can help evaluate your financial situation and provide you with a financial plan to help keep you on track to prepare you for your future.
Being financially aware each day can provide you with the freedom to make choices while living the life you’ve earned. Financial awareness means you:
When you manage your money efficiently and are financially aware, you can prepare for future short-term and long-term expenses and emergencies that may arise.
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