Do Your 2024 Wellness Goals Include Your Finances? 3 Steps to Bring Financial Wellness to Your Life

As we settle into a new year and look for ways to improve our physical, mental and emotional wellness, I would suggest that focusing on our financial wellness in the year ahead is just as important.

To get started, ask yourself: What emotion do you most frequently experience when you think about your finances?

Most of us experience an element of anxiety when we think about our finances. In fact, year after year, Americans list money as the number one cause of stress in their lives. And with factors such as economic uncertainty, volatile equity markets, inflation and interest rate spikes weighing on us, these past few years have been no exception.

Heck, even when we find ourselves on strong financial footing, the future remains uncertain. It’s human nature to question if we are doing everything we can to prepare for the unknown. We wake up in the middle of the night asking ourselves, “where are my blind spots, what am I missing?!?”

Hiking in Marin
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The good news is that the steps to financial wellness are just as straightforward as diet and exercise are for physical wellness:

1. Create clarity and transparency by taking stock of your financial life.

Get started by completing a balance sheet or a monthly income and expense worksheet. Seeing the full picture of your financial situation is critical to making informed decisions.

2. Identify areas of improvement.

Have a conversation with yourself and/or your partner to identify what’s working with your finances and what isn’t. What adjustments can be made to make your life more financially sound? 

3. Partner with an expert.

Consider working with a financial advisor (ideally one that’s a fee-only fiduciary) to craft a plan tailored to your family’s unique needs. The right advisor will know which of the financial planning tools to implement to help you reach your goals. 

In the end, financial wellness is about improving our relationship with money. If that relationship is filled with anxiety, it’s destined to fail. But a relationship built on honesty, open communication and a clear path ahead is one I think we’d all like to be a part of.

While it’s normal for us to focus on the tried-and-true new year’s resolutions of diet, exercise and the like, we should also keep in mind the important benefits of financial wellness. It’s been my experience that those who have confidence in their financial future spend less time consumed by stress and more time focused on the things that really matter in life. 

Wealth Management Financial Advisor
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The Equius Team of Wealth Enhancement Group works with families to craft financial plans designed to help reach their unique goals–from retirement and income planning to tax strategies and investments. Our team has been serving Marin County for over 30 years and would be honored to serve you.

If you are interested in a complimentary consultation, please contact our office to get the conversation started! 

3 Hamilton Landing Suite 260, Novato, CA 94949 |
[email protected] | 415-382-2500

Advisory services offered through Wealth Enhancement Advisory Services, LLC, a registered investment advisor and affiliate of Wealth Enhancement Group®