3 Tips That Changed My Financial Education & Wellness. Happy Financial Literacy Month!

💸 Are you in control of your money or is money in control of you? 3 Tools for financial wellness at any stage in your journey. 🧗🏽

Often overlooked, financial wellness can have a profound impact on our mental, physical and emotional health. Whether it’s anxiety building over mounting credit card bills, fear of a pending recession or the concerning tariffs everyone’s talking about, I’ve always found, the best way to combat fear is with knowledge. I used the three tools below to change my financial future:

1. 💲Personal Balance Sheet: a financial snapshot of your current situation, it’s made up of two items, assets and liabilities. Understand the difference between these. Assets are what you own and put money in your pocket, liabilities are what you owe and take money out of your pocket. You should get familiar with these terms and figures early and often. This is where an intimate relationship with your money and values begins. 📃🤔
2. 🫰Personal Cash Flow Statement: used to track your income and expenses for a specific time period it’s how budgets are created and maintained. You can better manage what you measure. People will do what you inspect, not what you expect. So inspect your cash flow statement periodically to hold yourself accountable.
3. 💳Continued Education [on personal finance]. Perhaps it’s reading a book about personal finance, reviewing your money goals or your list of values every few months. Building small habits that contribute to your long term goals is how you create positive growth. Expand your vocabulary and understanding so you can ask better questions and avoid common money mishaps where possible.
4. ✨*Bonus* Discipline. “Discipline equals freedom.” Regardless of the size of your goals, committing the time to review even the smallest bits of forward progress whether it’s hitting a savings benchmark monthly or finally being able to buy into that investment you’ve saved for is crucial. Take that time to appreciate your gains and how far you’ve come on your journey. Celebrating the little wins is what helps you remain consistent, it builds clarity in your vision for the future and resiliency when things don’t go exactly according to plan, as often happens in life. Build positive habits so your discipline feels automatic when it’s tested.

🤑When you feel secure in your financial future you can make choices that allow you to take risks and enjoy life in ways you may have never imagined. Like starting a business, investing in yourself, your education or simply traveling somewhere completely foreign to you, opening your eyes to new ways to see the world, yourself, and more.

👍Like/Share if you use these tools already or find them helpful. Disagree? DM me and let me know why, I’m always up for meaningful discussion.

✍When did you discover financial literacy? In what ways has it changed your life? Share your favorite books, resources or tools in the comments below.

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Disclaimer, I am not promoting or endorsing any of the books or authors shown in the photo above. This photo is a small sample of reads I found interesting and invaluable at different stages of my financial education and quest to understand monetary value, theory and economics.