Financial Wellness

A crucial part of safe financial planning is having a fund in place for disasters. Many people keep some form of rainy-day fund to help bail them out of financial trouble when an unexpected expense lands on their lap, like an unforeseen home or car repair, a sudden medical issue or something else.

Your innate financial traits and habits play a significant role in your choices, lifestyle and overall well-being and you may not even realize it. By identifying your core behaviors around money, you can gain insight into your money management style and make better-informed decisions to enhance your financial situation.

If you encounter a situation where you need to draw on your emergency funds, the chances are that you'll need access to the money right away. For this reason, emergency savings are typically kept in cash or in a traditional savings account. There are, however, a few other options.

The new year is a perfect time to reflect on your spending and money habits. Just a few small tweaks can make the difference between an early retirement, your ability to switch careers, travel the world, or otherwise achieve the financial freedom you desire.