January is Financial Wellness Month, and there's no better time than the present to revisit and refine your financial strategy. Whether you’re planning for the future, rethinking your current financial habits, or facing new challenges, this is the ideal moment to assess where you stand and make necessary adjustments. Take this opportunity to discuss your financial health, reassess your financial strategy, and set yourself up for success in the year ahead.

What is Financial Wellness, and Why Does It Matter?

Financial wellness is a personal concept that can mean different things to different people. It is shaped by your unique financial circumstances and lifestyle.

First, define what financial wellness means to you. Here are some key questions to guide your reflection:

• How much should you have saved? Do you have enough to cover emergencies or unexpected expenses?
• What is your monthly income vs. your expenses? Is your income sufficient for your lifestyle, and are you managing it effectively?
• How much debt do you carry? Could reducing debt help improve your financial stability?
• How flexible is your budget? Can you manage non-urgent expenses while saving for big financial goals?
• Will you be able to retire when you want? What are your long-term retirement goals, and are you on track to achieve them?

Your answers to these questions will form the foundation of your financial wellness plan. If you’re unsure about how to get started, a financial planner can help clarify what's most important to you and map out a clear path.

Setting Financial Wellness Goals for 2025

Achieving financial wellness often requires setting both short-term and long-term goals. Here are actionable steps you can take to start building a stronger financial future:

1. Have a Values-Based Financial Conversation: Sit down with any key financial decision-makers in your household (spouse, partner, etc). Set a recurring date/time to revisit progress and areas for improvement. Discuss whether your spending aligns with your household financial goals.
2. Set a Financial Date with Yourself: Financial wellness is one of the most basic aspects of self-care. Taking control of your money helps reduce anxiety, creates a sense of stability, and allows you to prioritize your well-being without the constant worry of financial stress. This isn’t about cutting out lattes—it's about ensuring your spending reflects your priorities and values. Check in with yourself monthly to celebrate progress, identify areas for improvement (in order to avoid getting too far off track), and outline necessary next steps or action items. Hold yourself accountable. No one is coming to rescue you.
3. Automate Payments: Take the stress out of bill-paying by automating regular payments like student loans, credit card bills, and other recurring expenses. Automation helps avoid late fees and ensures you stay on top of your obligations.
4. Build an Emergency Fund: Aim to save 6 months’ worth of expenses for emergencies. If this goal seems overwhelming, start small. Automate savings contributions and set aside a month’s worth of expenses, then gradually increase what you save and how much you have set aside for emergencies over time.
5. Contribute Monthly to Retirement Accounts: Make regular contributions to your retirement savings and take full advantage of any employer matching programs. The earlier you start, the better your retirement outlook. If you are self-employed, you have the ability to set up your own employer-sponsored retirement plan and provide a match for yourself! Don't miss out on those annual tax benefits and compounding returns.
6. Plan for Long-Term Goals: If you’re considering buying a house or making a large purchase, factor that into your overall financial strategy. Make your big goals a priority while managing smaller ones along the way.
7. Prioritize Debt Reduction: Is becoming debt-free a realistic goal? While it may take time, having a clear plan for paying down high-interest debt is absolutely essential. Having little to no debt frees up cash flow for other financial needs, wants, and the flexibility to afford and enjoy life experiences you truly value.

Remember, your financial wellness is unique to you. These steps aren’t one-size-fits-all, but they are a strong starting point for most people looking to strengthen their financial position.

Take Action Today

Establishing a solid financial plan now (or revisiting one you haven't reviewed in a while) can bring peace of mind and help reduce stress. Financial wellness isn’t just about the numbers; it’s about feeling secure, empowered, and ready for whatever the future holds.

If you’re ready to take control, schedule a consultation. Don’t wait—Financial Wellness Month is the perfect time to get started or set a time to regroup!

Get Started:

• Reach out to schedule a consultation
• Complete a free financial wellness audit to assess where you stand today and get actionable insights into where you can improve.
• Request to join our newsletter for ongoing tips and insights on improving your financial health.

By taking the right steps now, you’ll pave the way for a healthier, more secure financial future.

This content is developed from sources believed to be providing accurate information. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.