Financial Health Week

This week we are talking about Financial Health. Financial health encompasses the components that ensure security, safety, the ability to reach goals, and have financial freedom.

Financial health directly effects other our other components of health, including mental and physical health. When we are financially well, our mental health improves, and we are better able to participate in activities that improve our physically health as well.

This week we will talk about why financial health is important, how we can improve our financial health, and tips to help us achieve financial wellness.

Here are some ways we can improve our financial health.

According to a report by The Center for Financial Services Innovation (CFSI), people who are truly financially healthy should be able to answer "yes" to the following three questions:

1. Are you able to pay your current obligations? This includes things like your mortgage, car payment, utilities, and any other recurring expenses. If this applies to you, the solution is obvious – cutting down your expenses is the smartest way to improve your financial health.

2. Are you able to cover unexpected expenses? In other words, if you got a flat tire today, would you be able to pay for it without borrowing money or using a credit card?

3. Are you setting yourself up to cover future expenses such as retirement?

If you answered "no" to any of these questions, keep following along! Next, we will talk about the actions you can take in detail to answer "yes" to all of those questions!