Finances can be rough to talk about – but the conversation is neccessary. 62% of those with a budget say it makes them feel more in control of their finances, 55% say it improves their confidence, and 52% say it increases their sense of financial security. Without a budget, 19% say they feel like things are out of control, 18% say they feel worried throughout the course of their daily lives, and. 17% feel stressed.
Although traditional American work is changing; and achieving retirement seems to be a meer pipeline dream, it is possible to set funds aside to ensure your comfort as you age.
Some interesting statistics: 79% of Americans are debt-free or are in the process of actively paying down debts. Additionally, 65% of Americans have some amount of emergency savings, and 48% are good for saving at least 5% of their income.
If none, or few, of the aforementioned statistics, apply to you, ask yourself the following:
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Who do I want to spend my time with?
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What do I want to spend my time doing each day?
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What career would make me eager to go to work each day?
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What would make me excited to learn?
Knowing the answers to these questions can shift your financial gears to ensure a more enjoyable, and financially stable life. Less than 2 in 3 Americans are confident they can afford a comfortable retirement; however, only 15% of Americans have taken the initiative to draft a financial plan. Strongly consider creating one – then stick to it. Keep reading the information below for more insights on achieving financial freedom – and the tech that can help you along the way.
