E15 - From Financial Stress to Financial Fitness

In this episode, Mike talks about getting beyond financial stress to financial fitness. He shares some tough facts about how American households are entering a debt trap. We all have experienced financial stress and it can have a negative impact on our lives. There is a way out and it’s by taking actions towards financial fitness. He highlights seven ways to get back on track and reduce the stress. These are things you might already know. Here they are:  1. Living below your means and understanding the debt cycle.  2. Having an emergency fund.  3. Having no high-interest debt.  4. Having savings and investments that are growing.  5. Having SMART goals.  6. Having a written and evolving financial plan.  7. Using money as a tool rather than a source of stress.

Financial fitness leads to a better well-being. It takes discipline, planning and some financial savvy. He makes it clear that this is all worth it and you can do this. Also, don’t forget to take time out for yourself to relax, go for a walk if you can, reach out to friends and family. Have some quiet prayer or meditation time. Self-care is so important.

If you have ideas you'd like to share with Mike for a future episode, or any other recommendations, you can reach him at:  [email protected]

For a free coaching session, you can go to: www.fettermanfinancialsolutions.com

at the “Schedule an Appointment” page and go to the “Resources” page to see some of his favorite personal finance tools including a sample customizable budget with Excel and websites of some of his favorite personal finance podcasters.

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