Are You Ready? National Financial Wellness Month Is Here!

National Financial Wellness Month

Are You Ready? National Financial Wellness Month Is Here!

Preparing financially for the future can ease stress, and help provide confidence.

When it comes to New Year’s resolutions, most Americans focus on losing weight or improving their health and fitness(1). Staying healthy is extremely important—especially during a pandemic! But financial wellness is also important. We’re now in National Financial Wellness Month—and the timing is perfect. January is when we feel the impact of our holiday spending, start organizing our tax documents, and begin making plans for the year ahead. Maybe this is the year we’ll be able to reunite with family and friends on a well-deserved vacation—or pay off a loan that has been adding to our stress levels.

Check off your financial goals

Checking off financial goals can help provide confidence. And, if financial wellness wasn’t one of your resolutions for 2022, it’s not too late to start! Financial wellness goals vary by personal circumstances, so there is a lot to consider along the way.

Here are some financial wellness actions to consider for 2022:

ƒ Create a financial plan and learn more about your financial options—and potential obstacles. LPL has provided online articles, videos, tools and other resources to help you make your financial plans.

ƒ Consider age-based milestones as you plan your financial future. Where do you want to be financially in 10, 20, or 30 years?

ƒ Set a budget and track your spending, considering ways to save money. Cutting back on nights out, or eliminating any subscriptions or other services you seldom use might be a good start.

ƒ Add to your savings to address your short-term and long-term goals.

ƒ Evaluate your net worth and create a net-worth statement to review and update regularly.

ƒ As you prepare for retirement, do what you can to take advantage of compounding earning potential in your 401(k) account.

ƒ Be prepared for emergencies and unexpected expenses by creating (or adding to) an emergency fund to cover at least three months of living expenses.

ƒ Take steps to pay off your debt.

ƒ Add notifications or reminders to your digital calendar to nudge you to take care of upcoming expenses, such as estimated tax payments.

ƒ Review your portfolio regularly and work with a financial professional to help work toward your goals—especially if you need help with legacy planning or other potentially challenging situations.

ƒ Periodically check your credit report to ensure there are no errors, and use it as motivation to pay your bills on time and stay within your credit limits. You can request a free credit report every year from Experian, Equifax, and TransUnion.

It may seem like a long list, but financial wellness is well worth it! For deeper insights into your financial situation, consult a financial professional.


Thanks for checking out the blog. 

Gregory Armstrong , CFP®



This material is for general information only and is not intended to provide specific advice or recommendations for any
individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive
outcomes. Investing involves risks including possible loss of principal.

This material was prepared by LPL Financial.   Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and
broker-dealer (member FINRA/SIPC). 
Insurance products are offered through LPL or its licensed affiliates. To the extent you are receiving investment advice from a separately registered independent investment advisor that is not an LPL Financial affiliate, please note LPL Financial makes no representation with respect to such entity.


Securities and insurance offered through LPL or its affiliates are:


Share This Article


You May Also Like

Funding a Buy-Sell Agreement with Life Insurance

As a partner or co-owner (private shareholder) of a business, you’ve spent years building a valuable financial interest in your company. You may have considered setting up a buy-sell agreement to ensure your surviving family a smooth sale of your business interest and are looking into funding methods. One of the first methods you should consider is life insurance.

Read More »

Transferring Your Family Business

As a business owner, you’re going to have to decide when will be the right time to step out of the family business and how you’ll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the business or keep it until you die.

Read More »

Retirement Plans for Small Businesses

As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed certain tax benefits for establishing an employer-sponsored retirement plan, including a series of potential tax credits for establishing the plan and a deduction for contributions you make.

Read More »

Creating an Investment Portfolio

You’ve identified your goals and done some basic research. You understand the difference between a stock and a bond. But how do you actually go about creating an investment portfolio? What specific investments are right for you? What resources are out there to help you with investment decisions? Do you need a financial professional to help you get started?

Read More »

A/D Juicebox Ready, Set, Spring! (April 10th)

W​​​​​​​e are happy to present our A/D JuiceBox Webinar Series. JuiceBox will provide current events, financial planning strategies, taxes, investments, and general business updates.

Join us as Autumn fills the air, and the time is quiet and mellow to discuss things in the financial planning world.

Read More »

Understanding Risk

Every investment carries some degree of risk, including the possible loss of principal, and there can be no guarantee that any investment strategy will be successful. That’s why it makes sense to understand the kinds of risk as well as the extent of risk that you choose to take, and to learn ways to manage it.

Read More »

Don't Miss Anything

Stay up to date with our monthly newsletter.