The Cornerstones of Financial Health

financial healthFinancial health is not complex, and it doesn’t take a business degree to figure it out. Financial health is dependent on consistency, persistence, and good planning. Let’s get back to basics with four cornerstones to solid financial health.

Do you know how to budget? This is the first cornerstone. Know how to design your budget and live by it. Do not waiver. Do not negotiate with yourself. Build a budget and commit to it. This will give you a vision of what your financial life can be. A budget will also give you vision on your current state, and how to get to your future state. Once this foundation is built, keep going for more financial health!

Sometimes investing may seem out of reach, but investing is another cornerstone of financial health. Bottom line is to make your money work for you! The power in money is not what you can buy, but how it can multiply with little effort from you! Spend some time researching and learning the best investment options for your situation. Once you begin down this path, opportunity will present itself.

Establish a stash of cash. That’s right, savings is another cornerstone. While having a cash savings will not generate wealth, it will help you to smooth out the rough edges when a budget falls short of the unexpected expenditures. Savings can also help you to reach short term goals much quicker.

The last cornerstone of financial health is debt. Slay that dragon, and keep debt in check. Ask yourself, why are you in debt. The answer is the same for everyone. You spend more than you make. Once you come to terms with your debt, you will find yourself back at the original cornerstone of financial health.

Stick with the firm foundation that these four cornerstones provide, and you will steady the course for financial health!