Vanguard BrandVoice: 4 Important Steps Toward A Healthier Financial Life

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What comes to your mind when you think of fitness? For many of us, it’s the treadmill, the weights, or maybe those awesome burpees—the things that keep our bodies moving and strong. But fitness also applies to our minds, jobs, families, communities and finances, all of which play an important role in our overall health and well-being. Keeping all those plates spinning together can be daunting, so it’s worth re-looking at how you’re spending your time and energy to make sure each silo is getting the attention it deserves.

If your financial life could use a little extra cardio, these tips can help you decide where and how to start.

1) Define your vision

It all starts with deciding how you want to live. What does your current housing situation look like—or what are you working towards? Where will your home base be? How long do you expect to travel? How much should you set aside for “extra” entertainment like entertainment? The more specific you can be when listing your lifestyle goals, the more accurately you’ll be able to budget and planning,

2) Crunch some budget numbers

Once you know what your expenses are (or should be), it’s time to compare that number with your monthly income to see how it measures up. Don’t be afraid to ask yourself important questions, like “Am I saving enough for the future?” And “Is my money working too hard for me?“Be realistic, but don’t be too hard on yourself. You may have the opportunity to refresh your savings goals and create an investment plan that can help you reach them—and it’s never too early to start Or it’s not too late.

3) Double whammy on discipline

Think of investing as a marathon, not a sprint. As long as you’re taking regular steps to improve your financial health, it’s okay if they’re small. You’re still putting yourself in a better position to reach your long-term goals. Consider automating your monthly savings, paying off high-interest debt, starting an emergency fund, rebalancing your investments regularly, or updating your beneficiaries after major life events. Don’t put pressure on yourself to do too much at once—no one goes into a marathon before running a few miles. start with a good habit and work your way up.

4) streamline, streamline, streamline

It’s a lot easier to make good financial choices if you don’t need to think about them too much! Make sure your financial information is organized and easy for you to access and that you are taking advantage of opportunities to automate savings and consolidate debt.

Remember: As most fitness trackers will tell you, all steps are good steps. We can help you continue your investment journey with your best bet.

Learn to invest on your own

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