Laying the Foundation for Financial Wellness
*Stacey Tisdale is a sponsored partner compensated by OneMain.
Just like a home, your finances take time to plan, build and feel uniquely yours. It starts with a strong foundation and fundamental understanding of the environment around you and knowing what you want to create. Financial expert and sponsored partner Stacey Tisdale explains how you can start making your own blue print to managing your money.
See video transcript...
It's hard to stay focused on financial goals when we're worried about money. But that's actually the time when goal-setting matters the most.We set off a chemical process in our brains that create strategies to achieve them, and the smarter the goals the smarter the solutions. But goals must be specific...
Specific
"I will save $500 in an emergency fund by next December." Specific goals help you make better spending and savings choices.
Measureable
If you want to save $500 by December, you know you must save $50 a month beginning in March to be at that $250 mark by July. Achieving that measureable mid-year success builds confidence to keep going.
Attainable
Make sure your goal is realistic enough to actually reap the reward of setting one. Is $500 a reach? Or is it doable?
Relatable
You should be able to clearly share your goals with a loved one or friend. This accountability greatly improves your chance of success.
Timely
If you're helping your child pay for college this year, it may not be the time to buy a new house or even save an extra $500. Timely goals eliminate financial stress.
This is NOT a dress rehearsal. This is your real life. Let your goals guide the way.
This article is for general education and informational purposes, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any purpose and is not intended to be and does not constitute financial, legal, tax, or any other advice. Parties (other than sponsored partners of OneMain Financial (OMF)) referenced in the article are not sponsors of, do not endorse, and are not otherwise affiliated with OMF.
