As the year begins, we all have resolutions that we want to make. Some are new and some are yearly. This is one we should all make whether it is January or June! Financial Health Day is a different kind of health than we usually discuss here, but just as important! This type of health can also lead to the availability of more spa travel and wellness travel!
As many of you are aware, America’s #2 most popular NYE resolution is money related: get out of debt, pay off or refinance student loans, save more, cut expenses, etc. Yet, like most resolutions, January’s resolve disappears by February. This is why former banker turned consumer advocate and founder of MangifyMoney.com Nick Clements believes every American should take advantage of January’s resolve and take a Financial Health Day.
Nick outlines an hour-by-hour plan for a Financial Health Day, as well as ways to automate finances for the rest of the year in his new ebook published today “Richer In 7 Hours: Financial Tips & Tools To Grow Your Net Worth.” For many Americans, a Financial Health day would like be their highest earning day of the year.
Here is an outline of the day:
9:00 – 10:00 a.m. What is my net worth? And why should I care?
10:00 – 11:00 a.m. How much do I add to (or subtract from) my net worth every month? In other words, what is my monthly budget?
11:00 a.m. – 12:00 p.m. What is my credit score? And what do I need to do to fix it?
12:00 – 1:00 p.m. Can I find ways of cutting my expenses so that I contribute more to my net worth
every month? (This will be a working lunch!)
1:00 – 2:00 p.m. How can I get rid of credit card and student loan debt?
2:00 – 3:00 p.m. How can I calculate my needs in retirement? And how do I know if my current savings
are enough to reach my retirement goal?
3:00 – 4:00 p.m. Do I have the right insurance in place to protect my loved ones in case I die?
4:00 – 4:30 p.m. Where can I turn for help? And how do I make sure I am not ripped off?
4:30 p.m. Time for a well-deserved break!
