The new year always brings new resolution, need for change and improvement for ourselves. Two popular areas of focus are physical and mental wellness, and financial stability. Many professionals in both industries believe in maintaining balance and good physical health, one should start by focusing on their economic well-being.
Financial Well-Being Contributes to Personal Success
Poor financial management can affect many aspects of our life with the most significant threat being to our overall physical fitness. Understanding where to get started is vital. It’s suggested to take financial advice from a trained financial specialist. We trust our medical appointments and preventive care to healthcare professionals in their field of expertise, so it makes sense to seek assistance from a financial professional.
Money sets the infrastructure for our survival. Financial well-being should allow us to pay our bills and save many for future activities or emergencies. When we experience proper financial planning, we find ourselves with extra money from time-to-time to pamper ourselves and others in our life. Now, other aspects of our life will begin to come into focus once we are not experiencing the stress caused by our financial struggles. At this point, we can start to focus on the other facets of our physical health and well-being.
There are many steps to get started to put our finances in order. While they will not all be solved in this article, we hope to bring awareness to the link between financial well-being, and good physical and mental health. Make a move to improve finances, and the see positive changes in other aspects of life.
A great place to get started is understanding our credit score and our options. There are so many decisions made in our lives that begin with our credit standing, including car insurance. And, today more than ever there are resources, advisors and education portals to point us in the right direction, regardless of our current status.
What is in a number?
According to Experian there is a lot in a number. For a score with a range between 300-850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most credit scores fall between 600 and 750. Higher scores represent better credit decisions and can make creditors more confident that you will repay your future debts as agreed.
Experian further advises, credit scores are used by lenders, including banks providing mortgage loans, credit card companies, and even car dealerships financing auto purchases, to make decisions about whether or not to offer your credit (such as a credit card or loan) and what the terms of the offer (such as the interest rate or down payment) will be. There are many different types of credit scores. FICO® Scores and scores by VantageScore are two of the most common types of credit scores, but industry-specific scores also exist.
At Meliora we work towards your solution to educate, advocate and inform your employees about the essentials of healthy living! We are ready to build your OVERALL SOLUTION, to capture the wellness and well-being experience for your company and your employees!
Reach out today, Click Here to Schedule an Appointment Call Bill Johnston at 817-869-1310 or
email wjohnston@mel ioratech.com and visit our website at melioratechnology.com
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