Are You In the Money? Or In the Red?

When you think about taking better care of yourself, what are the first things that come to mind? Do you think about eating more fruits and veggies? Maybe you decide to exercise more, get more sleep or finally get that long-overdue annual checkup.

Those are all important to-dos, but have you thought about your finances? Money can be a big source of stress. Especially if you feel like your financial situation isn’t under control.

Financial well-being plays a big role in your overall well-being. When you take charge of financial decisions, you are better prepared for your future.

What You Can Do

Here are 10 ways you can improve your overall financial well-being. Remember, reaching any goal begins with small steps. Start with one or two listed here. As you become more comfortable and confident, put others into action.

1. Give yourself a financial checkup.
2. Track your monthly spending.
3. List your financial goals and create a timeline.
4. Set a monthly budget and stick to it.
5. Establish an emergency fund.
6. Make savings automatic.
7. Try savings and budgeting apps.
8. Pay down your debt.
9. Use a flexible spending account for medical, day care and other allowed costs.
10. Reward yourself when you reach a goal.

Remember, your financial well-being starts with small steps and grows over time.  Actions you take now will pay dividends toward your good health and well-being now and in the years ahead.

What are you doing to secure your financial well-being?

Interested in more about the well-being series? Check out the other four core aspect of well-being — career, community, social, and physical.

Sources: Coping with Financial Stress,  HelpGuide, 2023; Get Money Smart. 25 Tips to Improve Your Financial Well-being,  Consumer Finance, 2019; 50 Ways to Improve Your Finances in 2024,  U.S. News & World Report, 2024

Originally published 8/28/2017; Revised 2021, 2022, 2024