If you’re a healthcare professional, we have some tips to help you plan ahead to live a better, healthier financial life, even as you focus on your career and the wellness of others. Best of all, these tips don’t take a lot of time.
- Always invest in your future. If your employer offers a retirement savings program, enroll in the automatic deposit program. Then, maximize your deposits to receive any matching employer funds.
- Track your spending. When you know where every dollar is going, it can help you feel more at ease and in control. Log into your account once a week to check balances, transfer funds, or pay bills as needed. You can use your smartphone or computer. If you use a debit card for all of your household expenses, it is easy to see where your money is going every month. Once you have a clear financial picture, you can then start making decisions that are more aligned with what matters most to you.
- Start an emergency fund. Unexpected expenses can catch anyone off guard. To weather a financial storm, have anywhere from three to six months of your total living expenses safely sitting in a separate savings account. To get yours started, set up automatic transfers with every paycheck or transfer a set amount of funds every month. Try not to use those funds unless you really need them.
- Get the right insurance. There’s more than just healthcare insurance. To fully protect your financial future, you should also consider disability insurance if you are unable to work due to illness or an accident, life insurance to protect your family when you’re gone, and liability insurance to protect yourself from possible lawsuits.
- Get organized and buy a shredder. This includes filing paperwork, organizing tax documents, and shredding anything you no longer need to help avoid identity theft.
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.