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  • We all know you should take a sick day, or a mental health day, or even a personal day.

  • But a financial day is just as important.

  • [Your Money and Your Mind with Wendy De La Rosa]

  • You deserve to take time to get your life in order when you aren't on edge and under pressure.

  • Employers, if you're watching this, you should also think about giving your employees a financial health day.

  • Throughout this series, I've shared ways that you can change your environment so you can spend less and save more.

  • But the secret ingredient for each tip has been "time": calling your credit card company to change your interest rate takes time; deleting an app off your phone takes time.

  • And if you haven't had time to put these changes into action, this is your chance.

  • Mark a day on your calendar right now, to devote, to reorganizing your finances.

  • Really commit to this day, and make that day as productive as possible.

  • But here are the big headlines that are the most important to cover, both from earlier episodes and beyond.

  • So first I want you to focus on your fixed expenses.

  • Take the day to evaluate your bills.

  • Can you truly afford your housing payment?

  • Is it time to start looking for a cheaper place?

  • Do you need to switch to a low-cost cell phone provider?

  • Do you need to trade in your car for something else?

  • This is the day where I really want you to think about those large fixed expenses and make that one-time change.

  • Number two: sign up for the boring-but-necessary stuff.

  • Do you have life insurance? No? Sign up now.

  • Are you enrolled in your company's 401(k)? No? Sign up now.

  • Are you contributing enough to that 401(k)? No? Edit your contribution rate right now.

  • Number three: if you haven't already, talk to your significant other about money.

  • Get on the same page; it matters.

  • Visit the link below for a list of questions to help get you started.

  • Number four: create a singular savings goal.

  • You can start by setting up an automatic plan so that a portion of every paycheck goes directly into your savings account.

  • Number five: start paying off your debt every week, not just every month.

  • Maybe it's your credit card debt or your mortgage debt or whatever you have, you'll end up reducing more of your debt over the course of a year if you pay that debt more often.

  • Number six: renegotiate your credit card interest rate and change your payment due date.

  • Get on the phone, call your credit card company and make your credit card company work for you.

  • Number seven: use technology to your advantage.

  • Redesign your online environment by unsubscribing from all your shopping newsletters and install an ad blocker.

  • You can't spend on what you can't see.

  • Number eight: delete those distracting delivery apps.

  • Number nine: now, my tips are not all about cutting back spending, I want you to spend on things that increase your happiness.

  • So focus on experiences, on spending time with others, and on expenditures that help save you time.

  • Like hiring someone to clean your house, or mowing your lawn.

  • That will save you time and boost your happiness.

  • Number ten: last but certainly not least, schedule another financial health day for a few weeks later.

  • Chances are, you'll need to revisit some of the things you started today.

  • I know all of this may seem tedious or boring, but it's better to make these vital changes when you have the time to think about them.

  • And not under the stressful conditions, when we usually make these very important decisions.

  • Not every day can be a spa day, but I think a financial day will leave you feeling soothed and pampered.

We all know you should take a sick day, or a mental health day, or even a personal day.

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10 steps to boost your financial health -- that you can do in a day | Your Money and Your Mind

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    林宜悉 posted on 2021/10/22
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