What Health Means to Me... By Dr. Karen Ivy
Financial Health means to me being able to afford a little rest and relaxation while successfully balancing expenses, taking advantage of savings opportunities, and stretching your current income. Life is a journey full of twists and turns. Your road to financial fitness is a journey as well. Remember these quick financial rules of thumb:
Spend less than you make – track your spending and save where you can. Target Total Housing Payments – not to exceed 28% of our gross income. Target Total Debt Payments – not to exceed 36% of your gross income. Stash Emergency Savings – at least 3 months’ worth of living expenses for emergencies. Pay off debt – Focus on credit card balances… be gone! Invest in your company benefits and pre-tax accounts – Just do it! Review Your Medical and Life insurance needs – plan for that “raining day”. Contribute toward your Retirement Planning – invest appropriately for your age. Monitor your progress along the way.
Just remember that financial health is attainable and contributes toward your overall health and less stress! On your part, it takes time, commitment, and making well planned decisions. So here’s to your financial health… yes you can do it! Just get going and enjoy the results!