At MSA, we celebrate Financial Literacy Month by highlighting MSA’s Keys to Financial Health℠. You can master these financial habits through MSA’s holistic financial well-being solution: unbiased money coaching, a personal digital platform with self-help tools, and education events covering a wide variety of financial topics and life events. Let’s take a look at the five financial keys and things to consider as you get started.
1. My Money – Take control of my spending
Creating a balanced budget with a positive cash flow can allow you to feel in control of your money. As you consider whether you have mastered this financial habit, ask yourself the following questions.
Remember that budgeting helps you create healthy financial habits that you can build on.
2. My Credit – Leverage my credit and manage debt
Imagine the freedom of not being controlled by debt and having a credit score that works for you. Paying off or paying down debt might be one of your goals for achieving this. As you assess your current situation, ask yourself the following questions.
Even if you don’t need it right now, taking care of your credit can set you up for future opportunities. Plus, keeping a close eye on your credit report can help you catch discrepancies. If you’re unsure where to start, work with a money coach to create an action plan.
3. My Protection – Prepare for the unexpected
Gain peace of mind through having basic levels of insurance and emergency savings to prepare for the unexpected. This usually includes disability insurance to protect your income. It is also prudent to have adequate coverage for your belongings, vehicle, and home. If anyone relies on you, also consider life insurance to provide financial help if you can no longer provide support for your loved ones. Ask yourself the following questions:
There are many insurance options. A Money Coach can provide shopping tips and help you identify the types of coverage that may make sense for your situation.
4. My Retirement – Build my future
Gain confidence that your dream for retirement is possible. Acting on a strategic plan to achieve your retirement vision is key to retiring when you want to and how you want to. Answer the following questions to assess where you are.
Don’t just dream about retirement. Put your plan into action as soon as you can.
5. My Game Plan – Achieve my goals
Your chances of success greatly improve when you take the time to create well-defined goals and realistic plans to fund and achieve them. Gain momentum as you build the future you desire. Use the following questions to get started:
Talk with an expert Money Coach who can help you prioritize your finances and achieve your dreams.
How MSA Can Help
MSA is committed to helping members achieve their financial dreams. Improving your financial literacy and well-being can be much easier when you have helpful tools and an MSA Money Coach who can partner with you to create an action plan. Call 888-724-2326 to schedule a coaching session today.
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