The Santa Ana Chiropractor to see - Chiropractor Santa Ana

How’s Your Financial Health?

Is that a trick question? No, but it’s an important one, especially if you are in the throes of a financial illness due to today’s unstable economic times.

Think about this… what made you start care in our practice? Something wasn’t right and you thought we could help you. Maybe you had headaches, low back pain, chronic illness or any one of a hundred other conditions that bring patients through our doors. Bottom line, you came in for some type of relief care. It may have taken awhile to get you feeling good again, but once you felt better, hopefully you began to realize the value of wellness care to keep you feeling good. And… if it did take awhile to get positive health results, you also came to the understanding that it took some time for you to get unhealthy too!

The same is true of your financial health. Let’s start with the same premise – you’re experiencing some type of pain or perhaps a serious injury in terms of your finances. Maybe you are drowning in credit card debt and your spending is completely out of control. Maybe you’ve just incurred a huge debt, due to unforeseen circumstances or an emergency, like an illness or accident. Or maybe you wind up in the same place month after month when you realize that your in-come is less than the demands of your out-go!

What are some of the steps you can take to get relief from your financial pain?

• Determine total current debt and monthly income.

• Determine how much of your income you will be able to apply to your debt each month.

• Establish clear and attainable monthly goals to clear up your credit card debt and don’t charge anything else on your cards.

• Keep one credit card with the lowest interest rate for a true emergency and cut up or close out all other cards so you won’t be tempted to use them.

• Pay off all credit card debt according to the schedule you have created.

• Establish new financial goals for responsible spending and saving.

In addition to debt, there are other areas that need some attention. Do you have a will? Do you have life insurance/disability insurance that will allow your family some peace of mind should something happen to you and your ability to earn an income?

After you have achieved financial health through the relief measures outlined above, you can begin financial “wellness care” by establishing a regular savings schedule (i.e., you put X amount of money away from each paycheck) and stick to it. Monitor your spending habits to identify any “backsliding,” so you can quickly regroup and get back on track. Be sure to undergo a complete “financial checkup” at least once a year with a financial planner, tax advisor or banker.

Once you are on the road to financial wellness, you won’t want to jeopardize your financial health again!