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What can you do to improve your financial wellness?

So far, we’ve talked about what financial wellness is (security + freedom).

So, the next question is: how do you achieve financial wellness?

At Julep, we believe financial wellness is attainable through a combination of both knowledge and behavior. While learning about basic financial concepts is important, it comes down to how (and sometimes, if) you actually act on that knowledge.

Not only do we want you to learn how to manage your money, we also want you to understand why you manage your money.

We’ve put together a few suggestions on things you can do today to get you on the path to financial wellness.

Security, present: Make a budget. (We know, we know. Easier said than done.)

In order to have more control over your day-to-day, month-to-month finances, it’s important to make a plan. The best way to get started is to take some time to review your recent expenses and categorize them into “needs” (rent, groceries, etc.) and “wants” (Netflix, take-out, etc.)

Then, see if you’re sticking to the 50/30/20 rule (50% of your income towards needs, 30% towards wants, and 20% towards savings). Where does your spending fall? Where can you make some adjustments?

Security, future: Emergency. Fund.

Life happens, and, unfortunately, can cause tons of stress. Even more stress can come from being unprepared. An emergency fund is a personal budget you set aside as a safety net for future *unexpected* expenses and usually contains 3 to 6 months’ worth of expenses. If you don’t have one, we would recommend starting one. If you do have one, it’s always important to check in and make sure that your funds are still there and that you still have a sufficient amount, should your expenses change.

Freedom, present: Treat yo’ self.

What is life without being able to do (or buy) things that make you happy? As we mentioned, making a budget is important and financial obligations do come first, but that doesn’t mean life needs to be boring! Learning to recognize needs and wants is great, but be sure to include a few treats in your budget to avoid feeling deprived. What is something that brings you joy?

Quick tip: Look through your subscriptions (Netflix, Hulu, Kindle, FitBit, etc.) Find the one you use the least....and cancel it. Even if it seems like a small amount, start putting it towards your “freedom fund” and spend it on something that you actually want!

Freedom, future: Set a goal (or a few), AND write it down.

This seems very basic but trust us. The moment we start getting a paycheck, we tend to go on autopilot—as long as the bills are getting paid. Sometimes it can be hard to really think about the future. Where do you want to be in 5 years? Sure, you may have heard this question in a job interview, but have you ever thought about it from financial point of view?

Sometimes it helps to take a step back and look at the big(ger) picture.

Then, set a goal for yourself and plan out the steps you need to take to get there. Bonus points if you write it down. This step takes your goals out of your head and makes them visible and real.


So, out of these four areas, where do you feel you feel you might need some more work? Which one stresses you out the most? Is there anything you will start doing today to help future you? Share with us! Send us an email at and let us know what steps you will take today to work toward your financial wellness!

Have a great day!

Your Friends @ Julep

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