Money Makes the World Go ‘Round
- Written by Robyn Holder Robyn Holder
- Published: 21 October 2018 21 October 2018
Or does it? When I work with clients, we delve into not only their eating choices and patterns, but also their movement regime, sleep patterns, environmental challenges, and STRESS! Many times, money - and our relationship with it - can be a huge source of stress, which can greatly impact our health.
Consider some of these statistics, from my colleague, Money Coach Joe DeMuro:
- About ½ of Americans have only $500 or less in the bank.
- Average credit card debt per US household is greater than $15,000.
- 1/3 of Americans pay monthly just the minimum due on their credit cards.
- Only 24% of millennials demonstrate basic financial literacy.
- 93% of retirees are in debt.
Scary, right? However, if money woes are keeping you from reaching your potential, Joe offers these tips:
- Save at least 10% of income from each paycheck.
- Contribute the maximum to your 401(k).
- Use a credit card only if you have the money to pay for a purchase – other than in an emergency.
- Retirement savings comes first. Kids’ college savings second.
- Live within your means.
- Get into the habit of planning your financial future – at least once per quarter.
And, I’ll add a tip of seeking out Money Coach Joe DeMuro.
Money coaching is more than just talking about money. Joe will discuss your concerns, which may include spending too much or not being able to budget. He will help you address core issues and determine why you function the way you do relative to money. Money coaching is a vital investment in yourself - one that pays enormous long-term dividends. Working with Joe will make you realize its time to take control of your financial well-being.
And, by doing so, you may relieve some of your stress…and increase your health and vitality!
