Explore the importance of a financial self-care routine, setting meaningful financial goals, evaluating investments, optimizing financial health, and engaging further with the podcast for valuable financial insights.
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Quick takeaways
Define financial goals aligned with personal aspirations for a fulfilling life.
Incorporate annual, monthly, and daily financial practices to ensure consistent financial well-being.
Deep dives
Establishing Financial Goals and Life Planning
Setting financial goals involves looking beyond money towards defining the life you want to live and the person you want to be. Examples include paying off student loans, maxing out retirement investments, or saving for a house down payment. It's crucial to align financial goals with personal aspirations, ensuring that they contribute to your desired lifestyle.
Annual Financial Tasks and Reviews
Annually, financial tasks like tax filing, reviewing insurance and investments, setting goals, and checking work benefits are essential. Obtaining free credit reports and updating beneficiaries are also crucial tasks. These activities can be incorporated alongside other financial commitments for effective planning and management.
Monthly Financial Maintenance and Reflections
Monthly financial practices involve timely bill payments, maintaining a buffer in checking accounts, and monitoring expenses for potential fraud. Reflecting on income and career goals, as well as tracking progress on financial objectives, ensures consistent financial well-being. Daily habits of mindfulness, journaling, affirmations, and conscious spending help reinforce positive financial behaviors and life alignment.
There are things we're supposed to do routinely for our health: brush our teeth, shower and exercise. There's a version of that for financial health too. We'll talk about those tasks — and go beyond the number-crunching to explore how our mental health affects our finances. This episode originally published August 15, 2023.