Financial Wellness Month: January 2024
Welcome to a month dedicated to transforming aspirations into financial well-being — Financial Wellness Month.
According to findings of a recent survey conducted by Lending Club, as of October 2022, a significant 59 percent of U.S. consumers were navigating their financial lives on a paycheck-to-paycheck basis. This underscores the prevailing economic challenges faced by a considerable portion of the population, highlighting the need for broader financial resilience strategies and support systems.
“At David Lerner Associates, we believe that true prosperity extends beyond investment portfolios; it’s about empowering individuals with the knowledge and tools to attain financial balance,” says David Beckerman, Senior Vice President, Investments at David Lerner Associates, Inc.
“As January 2024 unfolds, let’s embark on a journey of financial discovery,” Beckerman adds.
When is Financial Wellness Month 2024?
Recognized annually in January, Financial Wellness Month casts a spotlight on the importance of holistic financial health.
This is an opportune moment to recognize financial wellness. With the holiday season often escalating spending, New Year’s resolutions beckoning, and tax season preparations underway, this is the ideal time to take proactive steps.
It’s not just a month; it’s an opportunity for individuals to reassess, recalibrate, and reinforce their financial foundations.
History of Financial Wellness Month
Throughout the course of history, financial matters have persistently woven themselves into the fabric of human existence.
Serving as the gateway to manifesting our material aspirations, money stands as a pivotal force. Yet, in its mismanagement, it can swiftly transform from a facilitator of dreams into a catalyst for our downfall, leaving a trail of frustration in its wake.
Financial Wellness Month emerged as a response to the evolving landscape of personal finance. It recognizes that financial well-being is not merely about the accumulation of wealth but involves the delicate balance between financial security, knowledge, and meaningful life experiences.
This month-long observance is a beacon, guiding individuals toward comprehensive financial health. It’s a time to reflect on the journey from financial literacy to financial empowerment.
Who Gets Involved in Financial Wellness Month?
Financial Wellness Month is a call to action for everyone — from seasoned investors fine-tuning their portfolios to those taking their first steps in the world of finance. It resonates with individuals, families, and businesses, encouraging a collective commitment to understanding and enhancing financial well-being.
At David Lerner Associates, we recognize that financial wellness is a universal pursuit. Investors, regardless of their experience level, are invited to participate actively in this month of financial exploration.
Financial Wellness Month Participation Ideas
- Review Your Financial Goals: Start the month by revisiting your financial goals. Are your goals aligned with your current life stage and aspirations? Reflect on short-term and long-term objectives, ensuring they form a cohesive financial plan.
- Review and Adjust Budgets: Your budget is the backbone of your financial journey. Use this month to review your budgetary allocations, pinpoint potential savings, and reallocate resources to align with your financial priorities.
- Investment Portfolio Check-up: If you’re an investor, conduct a comprehensive check-up of your investment portfolio. Assess the performance of your investments, ensure diversification, and explore new opportunities that align with your financial goals and risk tolerance.
- Educational Empowerment: Dedicate time to expand your financial literacy. Attend webinars, read insightful articles, or engage with financial advisors to deepen your understanding of investment strategies, market trends, and economic indicators.
- Retirement Planning Exploration: Dive into the realm of retirement planning. Evaluate your current retirement savings strategy, explore new options, and ensure your plan aligns with your envisioned retirement lifestyle.
Conclusion
As Financial Wellness Month unfolds after a busy (and expensive) holiday season, now is the perfect moment to assess your savings, budget, investments, retirement plans, credit scores, and various financial aspects.
At David Lerner Associates, we are committed to being your partner on this journey toward financial well-being. Whether you are navigating investment opportunities, planning for retirement, or beginning your financial education, our goal is to equip you with the tools and knowledge needed for a prosperous financial future.
Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.