Your Vote , Your Voice
Guest Cheryl Owens – Marico Walker
Get Financially Fit in 2023
A FORCE FORFAMILIES
Unlike the rest of the industry who overlook the majority of North Americans or take advantage of them, we fight for families by first teaching them how money really works and then by helping them create the financial security and independence they deserve.
A FORCE FORLEADERS
With thousands of entrepreneurs across North America, WealthWave’s team of educators are united to stamp out financial illiteracy. With world-class training, tools, and technology, our leaders are building scalable businesses without limits as we spearhead our crusade.
FITIt’s a new year. How healthy are your finances?
Get into top shape with this three-step guide.
- INTRODUCTIONThe first step on your road to financial fitness: Figure out where you stand. Though it sounds simple, this core step remains a formidable hurdle for many.A recent study found that 1 in 3 Americans feel they don’t have a clear and accurate view of their whole financial picture. That same study also found that just 1 in 5 feel “very confident” they will be able to achieve their financial goals.Whether you diagnose your current situation alone or with a financial professional, it’s critical that you get started.
- EXPERT ADVICE
- “You can’t go forward with a strategy until you know what’s happening.”- Kristen Euretig, CEO, Brooklyn Plans & Certified Financial Planner
- HERE ARE SOME FOUNDATIONAL QUESTIONS EURETIG RECOMMENDS FOR A FINANCIAL FITNESS EVALUATION:VISION
What is your preferred lifestyle and how much money do you need to support it? Consider everything from real estate to travel.BUDGET
Do you have a precise understanding of how your monthly income compares to your monthly expenses? Can you save and invest — or not?DISCIPLINE
Are you taking consistent, incremental steps to improve your financial health? These could include automating savings, paying down high-interest debt and creating an emergency fund.DATA
Is your core financial information easily accessible? And have you developed habits to check it regularly?Read More
- DATA BRIEF
- FINANCIAL PLANNING: A CAUTIONARY TALEA sharp financial fitness plan can help you avoid falling into the wrong statistical categories, such as these from a recent study.
- Only 1 in 5 Americans consider themselves to be “highly disciplined” financial planners12%Of Americans say they “do not plan at all” and “have not set any financial goals”
- INTRODUCTIONHow do you sort through the noise to find the financial tools you need? Here are a few attributes to look for:Relevance: What do you need the most assistance with? Budgeting? Saving? Bills? Triage your needs and focus your search on tools that can serve those functions most effectively.Ease of Use: If a financial tool is too cumbersome to set up or too clunky to use, drop it. You’re looking for help not headwinds.Pleasure: Recontextualizing the emotional experience of dealing with your finances can smooth the path to better habits.