This is a sponsored post on behalf of MassMutual.
Having overall health isn’t just for your body/mind, but your finances as well. I have noticed when my finances are in disarray, everything else follows suite. Since we’ve talked about taking steps to become fit/become a runner/or lose weight, we also all need to talk about setting goals and taking the steps to have financial success as well. Since it’s Financial Literacy Month, I figured this would be a great time to share some tips on getting fit financially.
Set Goals & Get Organized. Before anything else, you need to establish what your desired outcome is. Create a budget sheet to track your income and expenses, so you can see where you might be able to cut out unnecessary expenses. Make a long term and short term goal list so you know where to start – and where you want to be.
Save. Save. Save. Did I mention Save? You’ve heard it a million times (well at least I have). Always I mean always pay yourself first. If you have direct deposit have a percentage or certain amount automatically deposited into a savings or seperate account so you don’t even count it as bill money. Also set aside money each check for your childs college savings account,for your retirement, and any other finanical goal you have in mind. Like they say, “Out of sight, out of mind.” Eventually you won’t even notice that it’s gone!
Protect Your Assets. Insurance – whether it’s for your home, cars, or your life is a extremely important step to your financial success. Make sure that you are not only protecting that home or car, but also the liability that goes along with owning them. Meet with your insurance agent annually to determine if your policy limits are still sufficient for your needs.
Work with a Trusted Financial Professional. I can’t stress this enough. Having a company you can rely on for your finances is important – whether it’s setting up life insurance, retirement, college savings, or investments, you need a trusted financial professional that has your best interest at heart. Someone who can keep you on track and informed.
Massachusetts Mutual Life Insurance Company has the resources to help you meet your financial goals. MassMutual has tools, calculators, videos and articles are available on their website, and they can even put you in touch with a financial representative who can help you further along in the process of achieving your goals and dreams.
Are you financially ‘fit?’ What are some of your financial goals for the future?
This is a sponsored post written by me on behalf of MassMutual
My husband is an accountant, so our finances are in really great shape.
I like to think I’m an Olympian when it comes to family finances. We’ve got savings, retirement, and college funds all lined up.
Being financially fit is so important at every stage in your life. We just reviewed our retirement yesterday to make sure we are still meeting our goals.
These are really great steps. I think we are finally financially stable. Now we are going to save up for a down payment on a house.
Great steps! We are able to put a chunk down for the house we’re in, from tax refund and pay it off by next year. It’s my in laws former home and they don’t want a lot for it so I am excited.
Getting our finances in order is our top priority at the moment. It is such a relief when you have a plan and putting it into effect.
I think we are financially fit! We could stand go save more but we are good!
Having direct deposit makes my life so much simpler. I don’t have to worry about saving, since most of it is done for me.
I agree saving now for a rainy day sure helps a lot. I do love direct deposit and I love the option of Bill pay. It’s like auto pilot for me.
These are great tips! We’ve been working on the save aspect for the past few years and it’s hard! We do need to sit down with a financial advsor and will work on doing that soon!
I totally agree that healthy finances are an important part of overall health. These are great tips that I will be sharing with my 17 year old who will be off to college in just a few months and needs to establish healthy financial habits 🙂
I would like to research 401K plans and start putting more toward those type of savings options in the near future. I consider us pretty darn financially fit!
These are really great tips. I am very lucky to have a Brother in law that is a accountant. He is great with finances.
In this economy I don’t think many people feel ‘financially fit’ now-a-days, the more tips and tools and resources available to provide guidance the better! Thanks for sharing!
Tracy @ Ascending Butterfly
Thankfully, we are in a good place and have a method that works for us. These are great tips for others to get on budget!
My husband is awesome with our finances. He creates budgets for us so we stay on track.
I am a former Super Spender turned Super Saver. I now enjoy seeing my balance grow more than I do seeing my closet grow LOL
I agree, when my finances are out of order so too are a lot of other things. Finances play such an important part of our overall well being
Getting “fit” financially is something my husband and I are working on. I’m trying to become more of a saver.
MassMutual has a lot of great information. I need to check out the college savings calculator for my kids.
Great tips for financial success. I have 5 kids to save for so it’s very important.
These are some great tips! I really need to get my financials in order!
Luckily we’re doing okay financially, but now that we’re planning to buy a bigger house in a couple of years I’m really focusing on saving more money. We make a lot of purchases that we don’t NEED to make, so I’m working on getting us all to slow that down.
These are definitely some important things to starting thinking about. I need to make it a goal to start saving money again. Thanks for sharing.