The year has just begun and many of us make a resolution to be physically healthier in the New Year.  This usually includes working out more and eating better. Of course this a great thing to want, but consider the other ways to create a healthier lifestyle such as emotional, spiritual, or financial wellness.

Financial health has a huge impact on an individual’s life.  Stress creates a lot of personal, relationship, and health issues for many people. An endless amount of possibilities from each individual’s personal life can induce stress, but a common factor many experience is financial struggles. Whether you are a college student, recent graduate, employee, or employer, financial stress can attack anyone! Think about the impact this stress can have on our overall physical and emotional stability.

What can be done?  It’s definitely a process and here are things to consider.

• We have said it time and time again, and we will continue to say it, SAVE! Having a savings account is very crucial to financial wellness! Put everything you comfortably can into your savings account and watch it grow. The simple fact of knowing that money is there could reduce so much stress. After you feel confident about your savings account, begin saving and investing for your future! 401k plans are your future financial health, so it is important to give your 401k plan attention.  Always have a savings.
• The opposite of saving is being in debt, especially consumer debt.  It is not easy to avoid especially with how easy it is to purchase items. All you have to do is get a credit card and you are ready to go. Staying on top of your bills will reduce the amount you pay. Of course there are other ways of getting into debt, such as student loans or buying cars. It is well worth reading the fine print; always do your research on interest rates and the conditions of terms you agree to.  Always pay your bills on time.
• Think about all the costs included with a purchase. Just for an example you buy a boat, and you got a great deal. At the time of purchase it was basically a steal, how could you pass it up? When you bought the boat, you may not have realized you weren’t just buying a boat. There is insurance, state fees, storage fees, gas, the boat and lake toys, and maintenance to winterize it and then to summarize it! Of course this concept applies to so much more than buying a boat.  Always add up all the costs.
• As your savings grow, your debt is manageable, and your income is stable, then it’s time to look at the next steps of actively managing your assets.  This too helps reduce stress.  There are good investments and not so good investments.  Get expert help. If you are not sure of what moves to make, the risks and uncertainties of your decisions can become very stressing. This is where companies like 401k Selections play a role in the movement to financial wellness for many individuals. There are strategies used in ranking funds to maximize returns while minimizing the risks.  Always have a strategy to buy and sell.

Now imagine the positive impact on your life from making a commitment to financial wellness in the years to come. Let 401kSelections.com be a part of your movement to financial wellness in 2016!