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:
Be an aware consumer
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.
Use print or online coupons
Save on items you regularly purchase but choose other manufacturers that offer a discount coupon. Additionally, consider saving for your financial future through investing.
Educate yourself on financial concepts
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.
Create a budget
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.
Regularly contribute to your retirement savings
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.
Meet with your financial professional
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:
- Take control of your money before it controls you.
- Can determine how safe your money is.
- Plan what to do with your money.
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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In conclusion, 1st Choice Financial Services, Inc. specializes in providing strategies for those who want a better lifestyle in retirement. We offer our experience and knowledge to help you design a custom strategy for financial independence. Contact us today to schedule an introductory meeting!
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