Do you want financial health? Do you know what that means? Do you know how to get it?
One way to help you become financially healthy is to use good financial services.
With increasing life spans, rising medical costs and a volatile stock market you need good financial services just to keep pace with everything. When the economy is turned upside down, financial health seems hard to get; but it’s not. You just have to know what you are looking for and where to find it.
Improving your credit score can work hand in hand with using good financial services. So don’t ignore the basics in attaining financial health, improve credit score.
What You Need For Financial Health:
You Need A Good Credit Score.
- Improve credit score to lower the cost of everything you buy.
- Financial institutions will charge you less in goods and services if you take the steps to improve credit score.
- By paying less on auto loans, insurance premiums, mortgage loans and other goods and services, you will keep more of your money to start building wealth.
- A credit score above 750 is a good credit score. A credit score of 850 is considered to be a perfect credit score.
You Need Good Financial Services.
- Financial services involves more than a phone call from a financial advise once a year.
- To become financially healthy takes more of a hands on approach.
- The purpose of financial services is to keep more of your money in your pocket.
- Advice and guidance on financial fitness.
- Direction on how become financially healthy.
- How to also stay financially health.
- It’s a process.
Understanding The Different Stages of Financial Health.
- Financial health is a moving target.
- As your financial needs change, your financial health changes.
- Your financial needs change as your life changes.
- As you go through different stages of life, your financial priorities change.
- You have different financial priorities when you first start a job.
- You don’t even have a financial plan when you are new in your career.
- As you start to settle into your working years, you begin to develop your financial goals.
- Your financial priorities are different from when you start to accumulate wealth compared to when you have already accumulated wealth.
Already Accumulated Wealth.
- You want guidance.
- You need to preserve your wealth.
- Your financial needs are projections and analysis.
- You do not want to exhaust your investments.
- You do not want to outlive your investments.
- Just because you had the expertise on how to make it, does not mean you have the same expertise on how to preserve your wealth.
- Good financial services should have that expertise.
Just Starting To Accumulate
- If you are new to investing, you want a financial education.
- If you just started to accumulate wealth, you want a different kind of guidance.
- You want to be financially healthy, but don’t know how.
- You want an education on how to build wealth.
- Advice on how to grow and manage wealth.
- You will learn that one key to financial health is avoiding debt and not living pay check to pay check.
- If you want to build wealth, you need to live within your means.
- Accumulating wealth is a long-term process.
- Use the financial services available to you to learn the process.
Where Can You Find These Financial Services?
Your 401k plan
- Some 401k plans offer financial advisers.
- These advisers can help you with 401k investment selections.
- The adviser can gauge your risk tolerance level.
- Give you an idea of how much money you will need to retire.
- Whether you are saving enough to meet your time horizon for retirement.
- Your 401k adviser can tell you if you are on track.
- What you can change to make your 401k investing better.
- Where you can make improvements in your other investments.
Your Auto & Home Insurance Agent
- Your agent can help you save money on your insurance.
- The money they help you save, you can invest.
- Ask your agent how to save money on premiums by credit repair.
- Your credit score is one key to lowering your insurance premiums.
- By improving your credit score above 750 you will lower your insurance premiums.
- Maybe you can increase your deductibles to save money on insurance premiums.
- Maybe you can drop certain coverages that may not apply anymore due to the age of your auto or home.
- Your banker can discuss ways for you to save money.
- Maybe refinance your mortgage to get a lower interest rate.
- Invest the extra money you save.
- Save you money on your tax bill.
- Find additional write-offs, so more money stays in your pockets.
All of those financial services are available to you in the market place. You just need to be aware of them. You need to know who can offer you the financial services that you personally need.