The relationship between financial confidence and overall wellbeing is a critical part of modern life. Financial security not only impacts our economic standing but also has far-reaching effects on our mental, emotional, and physical health.
To boost your overall wellbeing let’s have a look at the actions we can take over the remaining months of 2023.
August: Cheaper Electricity
Electricity costs are rising so be proactive. Research available plans online and take note of the special offers, discounts, and benefits. Use a comparison site if you’d like to make it even easier.
Now call your existing electricity provider. Let them know you’re shopping around and ask for their best deal. See what they come up with, and then mention the other deals available. Tell them you’d prefer to stay if they can match or beat the competitor offers. If they won’t budge, then make the change for a better deal – you need to put your family first.
September: Debt Reduction
Debt is no fun, and it damages our overall wellbeing. In September, it’s time for a debt reduction strategy. First, put a Debt Freeze in place. This means no more new debt. Second, list all outstanding debts from smallest to largest. Third, attack them in that order to build momentum. Throw every extra dollar at the smallest one, then when it is at zero, roll all that repayment power onto the next one in line. Finally, when a debt is repaid then cancel the facility or card forever.
October: Rainy Day Fund
We need a safety net to build our financial confidence. It helps during challenging times, reducing stress, and promoting peace of mind. This October, commit to building a starter emergency fund. Begin with a goal of $500 or $1,000. Later, when all non-housing debts are fully repaid, you can increase this to three to six months’ worth of essential monthly expenses.
November: Mindful Spending
Adopt a mindful spending approach to enhance your overall wellbeing even further. The timing is perfect before Christmas arrives, which often tempts us to overspend, potentially undoing the progress made throughout the year.
Practice gratitude and celebrate the non-material aspects of life. Engage in activities that promote wellbeing, such as spending quality time with your partner and family. By being intentional with your spending, you can avoid financial strain and get ready to end the year on a high.
December: Debt-Free Christmas
As December arrives, go for a debt-free Christmas. Stick to your planned shopping limits and avoid any credit card spending. You’ll experience a sense of financial empowerment and accomplishment.
Make a list and check it twice to ensure your budget remains on track. Focus on the joy of giving and sharing meaningful experiences rather than the price tags on the gifts.
Give this action plan a go during the coming months. You’ll improve your financial situation and feel a lot better overall. Every step taken will build a brighter and more secure future.
Are you ready to make Real Progress?
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