Happy Monday friends. Still over here recovering from last night’s Pats loss, mainly because I usually go to bed at 9pm so I’m just really tired. And I I don’t want to admit this but I am sort of happy for the Eagles because I know how good it feels when your team wins (especially after they haven’t for a long time) so good on them. We are into our second month of the #JAKWellness12 and after the Instagram stories poll I did last week, the majority chose Money to focus on this month (Career will be next month). If I’m being honest I didn’t want money to win, which is probably a good indication that we should be talking about it. Financial wellness is SO important, and it wasn’t until a little over a year ago I actually got serious about it. Money is a difficult thing to talk about, and it can be an overwhelming and scary thing to navigate. They really don’t teach you this $hit in school, and they should! This month we’re going to discuss different aspects of financial wellness so we are all on a path to a better and more secure financial future. Don’t forget that every Monday you leave a comment with your progress (from the week before) you’re automatically entered into the monthly and year-end giveaways! I’ll be picking last month’s winner later today.
February Wellness Dimension: Money
This week’s challenge: Understanding your financial situation.
This week is going to focus on getting a better understanding of your financial situation. Some of you may be further along than others, wherever you are is fine. This Wednesday I will be meeting with my financial advisor to ask him some questions from all of you. Any questions you have about financial wellness (savings, retirement, paying off debt, credit, etc.) leave them in the comments below before Wednesday morning! Next week I’ll share his answers and advice. To get you started this week, here are some suggestions:
-Get all of your debt in one place (a spreadsheet is helpful). Understand how much you owe (credit cards, car payments, student loans, etc.)
-Do the same for your savings and investments (put together a spreadsheet of your assets -it’s ok if you don’t have any, not that long ago, I didn’t).
-Create a spreadsheet of your monthly expenses (rent, groceries, gas, utilities, credit cards, phone, health insurance, clothing, student loans) literally everything you pay on a monthly basis.
-Write down your financial goals. What do you want to accomplish this month, in 6 months, this year, in 5 years? Think short and long term about your financial wellness and priorities.