Did you know that January is Financial Wellness Month? This month is about more than just setting financial goals — it's about educating yourself, creating lasting habits, and taking meaningful steps toward financial wellness. It is the perfect time to reflect on your financial health, reassess your priorities, and focus on building a solid foundation for the future.
Whether you're looking to reduce stress, increase savings, or improve your financial knowledge, there's no better time to start than right now. Here are 5 ways to celebrate Financial Wellness Month and make lasting improvements to your overall financial health.
1. MyMoney.gov
MyMoney.gov is an excellent starting point for anyone looking to take charge of their finances. As a free, government-backed resource, it offers a variety of tools and content designed to help you manage your money effectively. Key features include:
- Calculators: From retirement savings to loan repayments, these tools help you make informed decisions based on your financial goals.
- Budgeting Worksheets: Use these practical templates to track income, expenses, and savings.
- Checklists: Whether you're preparing or a major life event like buying a home or having a baby, MyMoney.gov offers step-by-step guides to ensure you're financially prepared.
- Specialized Resources: MyMoney.gov goes a step further by offering resources for unique groups, including military members, justice-involved individuals, educators, youth, and more. These tailored tools address the specific financial challenges faced by each group.
2. Khan Academy
Khan Academy offers a free, comprehensive personal finance course. This course covers key financial topics in easy-to-understand modules, perfect for those looking to build or refresh their financial literacy. Subjects covered are:
- Saving & Budgeting: Learn the essentials of managing your money and setting up a sustainable budget.
- Interest & Debt: Understand how interest works and how to manage and pay down debt efficiently.
- Investments & Retirement: Dive into the basics of investing and planning for retirement.
- Income & Benefits: Explore how income works, including taxes, deductions, and various benefits like health insurance.
- Housing & Car Expenses: Get tips on budgeting for homeownership and car-related costs.
- Paying for College: Learn how to manage and plan for education expenses, including student loans and scholarships.
3. Investopedia
Investopedia is an invaluable resource for anyone looking to deepen their financial knowledge, especially in investing and advanced financial strategies. Some of the highlights include:
- Extensive Articles & Guides: Offers in-depth articles on topics like investing, stock markets, and retirement planning. It's perfect for anyone wanting to explore more complex financial subjects.
- Interactive Tools: Includes practical tools like retirement calculators, investment simulators, and mortgage calculators to help you make informed decisions about your finances.
- Financial Glossary: Provides a comprehensive glossary of financial terms, helping you navigate complex financial terminology with ease.
- Market Analysis & News: Regularly updated content on market trends, stock analysis, and economic news, keeping you informed on the latest developments in the financial world.
- Courses & Tutorials: Investopedia offers both free and paid online courses on a range of topics, from personal finance to financial analysis and advanced investing strategies.
4. Contact a Financial Advisor
Consulting with a financial advisor can be one of the most effective ways to improve your financial health. A professional can help you:
- Create a Tailored Financial Plan: Assess your current situation and craft a strategy to meet your short- and long-term goals.
- Navigate Complex Decisions: Receive guidance on topics like retirement planning, tax strategies, and investment choices.
- Maximize Savings & Investments: Learn strategies to optimize your financial resources and grow your wealth over time.
5. Our Newsletter: Wealth Wise
By subscribing to our Wealth Wise newsletter, you'll receive valuable insights to help you improve your financial literacy. We provide simple, practical advice on a wide range of topics, from saving and investing to retirement planning and building a strong financial foundation. Whether you're just starting out or looking to deepen your understanding, Wealth Wise makes complex financial concepts easy to grasp.
Click here to access clear, informative articles that will help you become financially empowered.
HORAN Wealth is here to help you grow, sustain, and safeguard your wealth. We offer a variety of wealth management services, and we have a team of experienced advisors ready to assist you. Visit https://horanwealth.com/contact to contact us today!
HORAN Wealth is the marketing name of HORAN Securities, Inc. (“HSI”) and HORAN Capital Advisors, LLC (“HCA”). Securities offered through HSI, a dually registered investment firm, member FINRA | SIPC. HORAN Wealth Management (“HWM”) is the associated investment advisory firm. HCA is an affiliated investment advisory firm.