No one is guaranteed financial wellness. Hard work, planning, and self-discipline are what it takes to have a person’s fiscal house in order. Not fiscally responsible by nature, most folks learn the discipline. It is often by trial and error, but good advice and professional guidance will shorten the learning curve.
Budgets Promote Financial Wellness
The path to real money independence starts with a workable budget. An individual will use this financial tool as a guide for all spending decisions. Essential ingredients of creating a reasonable budget include:
- Research. Knowing where your money is coming from and what your monthly financial objectives are;
- Planning. Deciding how your present and future income is spent;
- Goals and Objectives. Determining what you wish to achieve in creating realistic benchmarks for future earnings and spending;
- Flexibility. Creating a budget that will respond effectively to any unexpected emergencies;
- Discipline. Being willing to stick to the guidelines of the budget and having the maturity to focus on the goals.
There are several strategies a person can use creating a budget. One of these is the 50/30/20 rule.
50% of net income is for routine expenses.
30% of net income is for what you want (entertainment, hobbies, shopping, etc.)
20% of net income is for savings.
Of course, the budget strategy used depends on the person’s situation.
Professional Guidance Helps
People don’t always understand budgeting and are not able to design personal budgets that are workable. Having access to good advice makes budgeting more manageable, and Countrywide Pre-Paid Legal Services offers it.
Financial Experts Will Assist
We have a nationwide network of certified counselors who are easy to contact. A Countrywide counselor will help a Financial Wellness Plan member design a budget that fits that person’s needs.
A budget analysis is the primary Countrywide tool. The counselor evaluates the Plan member’s current income and expenses. This financial professional will point out where costs can be adjusted and explain the means necessary to remain solvent. Many Plan members live from paycheck to paycheck. They’re pleasantly surprised by finding out that sound financial management doesn’t require a Ph.D.
Sudden emergencies can disrupt any budget. These can include medical bills that might be thousands of dollars. Countrywide’s Financial Wellness Plan includes benefits to help in managing medical bills, dealing more sensibly with credit cards, and handling college loan debt. We can develop a working budget that will handle these types of debts without forcing a person to take drastic measures.
Empathy Is Essential
Countrywide has administered employee benefits for more than 30 years, and we recognize the importance of empathy. Some people are embarrassed because they can’t figure out how to do a budget and personal finances are always a sensitive topic.
Our clients can be assured that Countrywide counselors are going to display a lot of emotional intelligence. All Financial Wellness Plan members can get easy access to a counselor and expect to be treated like an adult. Counselors will not give stern lectures or sermons about financial issues. We want to help solve a problem and not create another one.
Employers Have a Say
Management wants to give excellent benefits to employees, but they would like to have services that people will use. Countrywide allows clients to select which options will be part of their own Plans. We administer these efficiently and make sure that needed help is delivered quickly. We have a reputation in the industry for excellent membership service, and our clients appreciate our commitment to helping people.
A person who has a reasonable budget can handle everyday expenses and take care of emergencies at the same time. Countrywide will provide the necessary support in helping a person create sensible objectives and take care of daily bills. If you have any questions about our services, please feel free to contact us at your earliest convenience.