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It’s National Self Improvement Month

It’s National Self Improvement Month

It’s National Self Improvement MonthDid you know? The entire month of September is actually National Self Improvement Month. This month is a time to make yourself better at anything you please, whether it is related to your physical health, mental health, social environment, career, home life or even…finances! Yes, your finances can play a role in your self-improvement process, when your finances are in order you can have more time to focus on the things that matter most to you. Unfortunately, getting your finances in order is sometimes easier said than done, which is why we want to help you through every step of the process.

  1.     Control Your Debt

This can be the trickiest step to getting your finances in order.  You might have made some financial decisions in the past that are costing you a lot of money right now. You should be building towards your future, not stuck in the past. We actually offer a free, anonymous service called, Savvy Money to help you analyze your financial standing and strategize ways to get rid of your debt.

  1.     Reduce Your Debt

Start this by just leaving your credit cards at home if they are a problem for you. IF they are not present, you cannot do any damage in the stores shopping. DIRECT DEPOSIT! Use this method to receive your paycheck, and autopay a set amount to your credit/debit card. You can reward yourself weekly with rewards that will not break the bank.

  1.     Save and Invest

Don’t just save! You have to invest too, so that you can start planning that future you have always wanted. It’s possible with some saving and smart investing, combined. When investing buy low, sell high,of course! Everyone knows that, but what does that have to do with your life? How can you apply this concept to real life? First, figure out your very own risk tolerance. Are you a high risk investor? Or would you prefer steady growth in exchange for lower returns? It is imperative that you understand every investment you make. You need to know where your money is going and what risks, fees and costs are associated with your choices. Then, there is the diversification aspect that you must consider too. There are many markets all over the world where you can invest and grow your funds; a common rule of thumb when investing is, it’s prudent to limit any single stock or bond to no more than 10 percent of your portfolio, especially with employer stock. Too much reliance on a company for your employment and long-term savings goals can be disastrous if that company falters.