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Video length: 1 minute 44 seconds
Transcript
So, what is financial wellness? It’s the ability to pay your bills while saving toward future goals.
And it doesn’t need to be complicated. Big change starts with small steps. With the right tools and knowledge, you can develop better behaviors—no matter who you are, or where you start.
How to get going
At Vanguard, we think of improving financial wellness as a 3-step process:
- Step one: Get a clear picture of your finances by tracking your money. Figure out how much is coming in and going out, and look for ways to spend less. Then, use that extra money to tackle your highest-interest debt first.
- Step two: Build your emergency savings. Start off by putting aside whatever you can each week, whether that’s $1 or $100. It’s not just about the amount. It’s about making progress. You’ll have less stress knowing that you won’t have to take on more debt or dip into other savings in an emergency.
- Step three: Save for the future. Whether you want a comfortable retirement, a house, or a dream vacation, saving even a little from each paycheck will help you get there.
Take charge of your future
With this 3-step approach, it’ll be easier to take care of today while planning for tomorrow. And you’ll breathe easier knowing all of your financial needs are being met at once.
When you feel better, you do better. We’re here to help you thrive!
The legal details
Whenever you invest, there's a chance you could lose the money.
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