Love is in the air! The love for long-term investment strategies, that is. According to a recent Gallup Economy and Personal Financial Survey, nearly 40% of Americans do not invest in their financial futures at all. Whether you fit into that group or want to show yourself a bit more money love, these tips are designed to help you get started and be your own financial Valentine.
- Put a Ring on Your Retirement Planning. First, maximize your employer retirement matching program (if there is one). Also, look into opening or adding to your own 401(k) or IRA to build wealth over time. The earlier you start, the more compound interest can work in your favor.
- Kick Toxic Debt to the Curb. High-interest debt, including credit card balances, isn’t good for your financial love life. Instead, transfer those balances to a Rewards World Mastercard with no balance transfer fees. Or choose a personal loan. Either option can help you save money and get things paid off.
- Schedule Date Nights with Your Emergency Savings Account. What is an emergency savings account? That’s an account where you keep anywhere from three to six months’ worth of your living expenses. To save up that money, schedule automatic deposits to that account.
- Pledge In Sickness and in Health for Yourself. Review your life, disability, and health insurance policies. Pay extra attention to your beneficiaries, deductibles, and co-payments. If necessary, research additional insurance options or shop around.
- Show Yourself Some Financial Love. Investing in yourself is always a good idea. Options include taking courses at your local community college, adding skills to your resume, attending a seminar, or applying for a new job with better pay.
Boost Your Financial Wellness
More Financial Wellness Matters blogs on topics ranging from financial self-care to protecting your financial health are coming soon. Twice a month, we’ll dig a bit deeper into the relationship between financial health and overall well-being, shedding light on the behaviors and beliefs that drive money relationships. With simple tips and proven insights, we hope to enhance your financial well-being and help you live a healthier, happier life.