BUSINESS

Health on the Money: By JULIA KAGAN, updated April 10, 2022; reviewed by CHARLENE RHINEHART;

fact checked by JIWON MA. Definition and How to Measure and Improve It What Is Financial Health?

The state of a person’s personal financial affairs is referred to as financial health. The amount of money saved, the amount saved for retirement, and the amount spent on fixed or non-discretionary expenses are just a few of the many aspects of financial health.

Key Takeaways A person’s financial health is measured by the stability and state of their personal finances and financial affairs.

A steady income stream, few changes in expenses, high returns on investments, and a growing cash balance are all typical indicators of good financial health.

You need to look at your current net worth, make a budget you can stick to, set up an emergency fund, and pay off your debts to improve your financial health.

Also Read  You can eliminate the need for some kinds of insurance

Leave a Reply

Your email address will not be published. Required fields are marked *