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Financial self-care

Jan 27, 2022 | Kristie Svejda


Ladies, start your new year with financial self-care

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Ladies, let’s talk about self-care. 

When we think of self-care, generally our minds float to a massage, mani/pedi, or night out with friends. Most forms of female self-care revolve around instant gratification. When is the last time you gave yourself the gift of financial self-care? 

What does financial self-care look like? In my world, financial self-care starts in January and it looks like this:

Did I stick within my budget? This is a loose budget and actually most banks offer a readout that states if you spent more or less than you deposited for the year. Don’t stick your head in the sand, take a look at that number. Knowledge is power.

Did I contribute to myself? Not only is it important to add to your 401k, but as a general rule, you should add 20% of your income per year to your future self. In real world terms, if you made $100,000 last year $20,000 should be saved between your 401k/ IRA/ general savings…65-year old you will thank you.

Am I getting the most out of my spending? Credit cards can be a great tool, but by consolidating your spending to one card, you can get the most out of your benefits. Using one card can maximize your rewards, so make sure the card is racking up points towards something that is meaningful to you. Using one card can also make it easier to pay your bill on time and can help prevent fraud. Don’t cancel your other cards, though! Having lines of credit that you do not use can increase your credit score. 

Did I overspend in any category? By using one credit card, your year-end statement will show what categories your money goes to. Check that your spending is aligned with your goals.

For my married ladies, do you understand your household’s budget? Do you know your annual saving vs spending goals? Make your financial self-care an annual check-in with your partner and when the kids are old enough, bring them into the conversation. 

For my Moms, how much will college cost? Are you better off putting away a larger amount of money when your kids are young and letting it grow or should you put a little into a 529 each month?

Do you have 401k’s left over from old employers? If yes, do you know how they are invested?

One of the biggest lies we believe is that you have to be rich to hire a financial advisor. Anyone can benefit from having a financial advisor. I have loved my 24-years in the financial advisory business and feel blessed to be a part of helping families of all different income-levels reach financial freedom. A little discipline and financial self-care goes a long way in this world. Next time you do something nice for yourself, think about the long-term and do something for the future you.


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