According to the Consumer Financial Protection Bureau financial well-being is a condition where a person can fully meet current and ongoing financial obligations, can feel secure in their financial future, and is able to make choices that allow them to enjoy life. Achieving financial well-being can help you sleep better, feel more relax and improve your overall health. Follow these tips to improve your financial health:
Write your due dates on a calendar: With all the things you have going on, it may be easy for a bill due date to slip your mind. To avoid late fees, interest payments, and financial hardships, try writing all your bill due dates on a calendar you regularly look at.
Build a good credit score: Credit scores are important. When applying for a mortgage, credit card, auto loan, or other credit product, companies use your credit score to determine how much they can lend you and your interest rate. Taking steps to improve or maintain your credit score now, can help you save money in the future.
Make a budget: Setting and sticking to a budget may seem difficult, but it doesn’t have to be. A good way to start is to list out your sources of income and your monthly expenses. From there you can organize and set a goal to stick to it. Check out these great tips for budgeting.
Talk with a Smart Money Coach: FREE financial coaching is available for all City employees and residents of San Francisco. Meet with a financial advisor to discuss your unique financial needs and challenges.
Financial stress can be hard, but it's not impossible to overcome. Like any healthy change in your life, setting goals, getting organized, and making a commitment to become financially healthier is achievable. To get started on your financial well-being journey, check out Better Every Day financial well-being resources.