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:
Who do I want to spend my time with?
What do I want to spend my time doing each day?
What career would make me eager to go to work each day?
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.