Important things to know about Healthy Financial Habits

Jan 11, 2023Financial Literacy

The start of a new year is a time to start fresh.  Many people use this time to make new year’s resolutions, often around health and wellness.  Health doesn’t just have to refer to our physical well-being though, it can be applied to our financial well-being.  Finances can be overwhelming, but often, by adopting some important financial habits, you can feel more confident in your financial well-being and apply this towards financial goals you may have for the new calendar year.  

Using the free *Native American Financial Services Association (NAFSA) Financial Literacy Program, you can explore online playlists with many modules that relate to overall financial competency, whether this is understanding credit cards or car loans, our curated playlists will provide you with important information.

Healthy Financial Habits:

Financial wellness, much like physical wellness, while varying from person to person, can generally be assessed by looking at various criteria that relate to your finances.  This can be things like your earnings and expenses, where you stand with debt, your savings, your status with credit, and your retirement goals.  

Our Healthy Financial Habits module, located in the Building Financial Capability playlist explains how to assess whether you are living with your means (and why this matters), a mathematical way to determine whether your spending habits align with your financial state and goals, as well as tips to build emergency savings, manage debts, and more.

This module also breaks down the term debt-to-income (DTI) ratio and includes a DTI calculator where you can input your actual numbers.   Also included are tips on consolidating debts, retirement planning, as well as additional outside resources relating to financial health.  Work through this module to kick off the year towards a more financially healthy you!

The NAFSA Financial Literacy Program provides a variety of modules and tools with easy-to-understand information to help people better comprehend their finances and make more informed decisions.

Explore the program today:

*The NAFSA Financial Literacy Program content contained on the NAFSA web page(s) referenced above, and on any subsequent pages created by our service providers/partners, provides general consumer information. It is not legal advice or regulatory guidance. There may be other resources that also serve your needs and you are always encouraged to, and should, consult with your own professional advisors prior to making any financial decisions.

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