Monday, January 20, 2014

How’s Your Financial Health?


 

During the month of January we will continue our focus on finance.  Here is a little food for financial thought.

Most of us have a general idea of our height and weight. Some of us know our blood pressure and cholesterol level. Those of us that are really health conscious may even know our Body Mass Index, or BMI and our Fat Index.

How many of us know our credit scores? How many of us know our debt ratio? How many of us know how much disposable income we actually have?

Just as most of us are aware of some of our physical statistics we should be just as aware of our financial statistics.

Our financial wellbeing is just as important as our physical well being. Did you know financial stress is often manifested physically?

Financial worries can cause headaches, fatigue; even a lowered immune system.

If untreated financial stress may result in reduced productivity or a reduction in activity on or off of the job.  You may be distracted by calls from creditors. You may not be completely focused on the tasks at hand. You may need to slip away at work to make a phone call that can only be made during business hours. Your mind may be fixated on how you are going to make ends meet. You may be embarrassed because you can’t afford to go to dinner, a movie or shopping with friends.

Are you postponing doctors or dentists visits because you can’t afford them? Maybe some of you aren’t taking all of your prescribed medications because of the costs.
 
Do you choose between buying groceries and paying the utility bills? Do you neglect regular maintenance on your cars, or drive on tires that should be replaced?

Maybe none of this applies to you. Perhaps your income is sufficient but you can’t figure out where your money goes each month.

Are you in need of a financial checkup? Do you want to be in Optimal Financial Health?

Being in Optimal Financial Health means:

·         knowing your credit score and having a credit score which enables you to receive the best interest rates when applying for credit*

·         setting and living by a budget

·         having a financial plan

 

*I am not an advocate of credit however, not everyone is able to make larger purchases such as automobiles and homes with cash. Credit should always be used responsibly.

If you are interested in being in Optimal Financial Health contact me at gretahillman@gmail.com group and personal consultations are available as well a self study program.

 

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