It’s much easier to achieve goals when you have other people by your side. And that’s especially true when it’s something as challenging as achieving positive financial health.
In an age when meeting your everyday expenses and putting money away for your future can be overly challenging, ensuring that you have the right people around you is paramount. In doing so, you’ll not only help to maximize your financial landscape but also avoid many of the mistakes that prevent other people from reaching their fiscal goals.
Let’s take a look at some of the people you may need to boost your financial health.
A Determined You
As you’ll see in this article, there are plenty of people who can help you to improve your financial well-being. But ultimately, the most important player will be yourself. If you’re not determined to get ahead, then there’s only so far you can hope to go — other people can help to show you the way, but if you’re not committed to improving your financial well-being or you’re reckless with your spending, then it’ll be impossible to get ahead.
Some people are naturally disciplined with their finances, but most people need to work on it. By identifying your weak points, making a plan, and showing commitment, you can become your own biggest supporter.
A Good Employer
There are ways to supplement your income, but in the end, it’ll be your salary that has the biggest impact. A good employer can have a tremendous impact on your financial health. Not only will they provide yearly salary increases, but they’ll also offer other perks and bonuses that can reduce your spending. On the other hand, a bad employer will offer low wages that make it difficult to not only save money but also make ends meet.
You can’t magically turn a bad employer into a good one. If you don’t think you’ll ever reach a top salary with your current company, then consider getting a new job. Studies have shown that employees who move roles end up earning more than those who don’t.
A Financial Advisor
It’s not only tricky to figure out what to do with your money; in some cases, it’s outright impossible, especially if you have a large chunk of money (say, money from an inheritance). You’ll find it much easier to make the right financial decisions if you work with an advisor. They’ll be able to present all of your options to you and will likely make their own recommendation. Remember that not all financial advisors are created equal, so you’ll need to conduct research to ensure that you work with the right one. Reading online reviews and getting recommendations from friends and family are good places to begin looking.
People Fighting Your Corner
If you’ve been involved in an accident, then you’ll need to have people fighting for you if you’re to have any hope of getting the maximum amount of compensation. Most people who have a case for compensation tend to accept the first offer that comes their way. In practice, they’d likely get a much higher offer if they worked with a personal injury or workers compensation attorney since they’ll have the expertise and experience you need to get as much money as possible. You should work with experts whenever there’s a significant amount of money involved — you’ll get more money for your property if you work with a real estate agent, for instance.
Positive Friends
Your friends should have a positive impact on your financial health. Alas, that’s not always the case. In some instances, your friends can actually have the opposite effect. This usually happens when you have friends who are always encouraging you to spend more money than you should — for instance, going to fancy restaurants, expensive vacations, or having weddings in far-flung, expensive destinations.
Good friends will adjust activities so that everyone can comfortably afford them. If you speak to your friends about your money situation and they’re not positively receptive, then it might be time to look for new friends!
Expert Advice
Finally, remember that you’ll have a wealth of expert advice at your fingertips, all thanks to the internet. There’s a near-endless number of podcasts, websites, and other digital media that you can use to improve your financial situation. The Ramsey Show, a podcast that tackles financial matters that everyday people face, is a terrific source of valuable information. The Clark Howard Podcast and BiggerPockets Money are also recommended; it’s expert advice, completely free of charge.