7 out of 10 Americans say financial stress is their most common cause of stress. TCG is here to help you prepare and avoid using credit cards or short term loans. Here are 3 steps to prepare you for a better financial future:

• Start with a budget. Document how much you make, spend, and save. Allocate an emergency fund into your budget, view this as paying yourself first. Then add in your basic needs such as food, shelter, and healthcare. If you have funds leftover consider your wants, such as entertainment or adding additional funds into savings.
• Save 3-6 months worth of living expenses. This emergency fund will ensure a cushion to fall back on if the unexpected occurs. If you live in a double income household save 3 months of emergency savings. If you live in a single income household save enough to cover 6 months of expenses. Refer to the budget you made in step one to determine your monthly expenses and calculate your emergency fund goal. TCG’s FinPath Platform is a resource made with your budgeting and planning needs in mind. The platform allows you to interact with your budget and access coaches who can answer any financial related questions! Learn more here.
• Make your money work harder for you. After you reach your emergency fund goal, that monthly allocation can be transitioned to investments. Investing your money can allow it to grow. Most investment vehicles, such as stocks, certificates of deposit, or bonds, offer returns on your money over the long term. This return allows your money to build, creating wealth over time.

Each step starts with the budget. Take the time to create a plan for every dollar you have. It’s not magic, but it can translate into more financial freedom and a life with much less stress! For more information or questions about your financial wellness schedule an appointment with an expert below.