INDUSTRY INSIGHT
YOUR FINANCES
SPONSORED CONTENT
Rebuilding
Your Financial
Confidence
D
on’t let financial fears paralyze you into a state of
indecision; it’s time to take the reigns and regain
control of your financial future.
As the economy starts to recover and jobs may
not be quite as hard to come by, it’s time to regain
a sense of purpose and empowerment when it comes to
your finances. Here are some practical steps that may help
you recover from and begin getting your fiscal future back
on track:
• Evaluate your financial health: Prepare an updated list
of your income, expenses, assets and liabilities. A job loss or
financial hardship can deplete your savings. If you’re looking
to get your finances back on track begin saving for the
suggested six to eight months of emergency cash stashed
away, now is a good time to really pinch pennies to help make
sure that money is there when you need it
• Analyze your spending habits: many people don’t
realize how much they spend on weekly trips to the market,
afternoon lattes or dry cleaning. Aim to eliminate a portion of
these expenses- start with maybe cutting back by 25% - more
if you’re willing. And be honest about what you really can live
without. Brewing your favorite cup o’ joe at home may not be
as fun as a frothy latte from the corner cafe, but shaving four
dollars a day from your food budget adds up to $120 a month
in savings.
• Call your creditors before you fall behind. Many people
avoid calling their lenders and credit card companies until
the default notices start piling up. But these days many
companies are willing to work with you, even deferring
or temporarily lowering payments while you look for
employment. Make those calls as soon as you suspect money
will get tight and explore all your options.
• Re-define your financial goals: Even if previous plans
have taken a detour due to financial hardship or job losses,
taking a moment to redefine where you see yourself in 5, 10
or 15 years will help stave off discouragement and empower
you to look forward. You may not be able to retire when
you expected to, or pay outright for a four-year college, but
instead of saying “I can’t afford it” begin looking for new goals
and asking the question: ••How can I afford it.”
• Meet with a financial professional. Even if you’ve
done this in the past, getting professional guidance about
investment losses, financial products, insurance coverage and
other important issues is essential. You need to know how
you can help meet your goals and objectives keeping in mind
your present and future resources.
When you experience a financial loss, the emotional toll can
be as high as the monetary one. Making choices based on a
new reality will go a long way towards rebuilding your self
confidence and your bottom line.
For more information contact Jason Hoeltzel, Financial
Professional with The Prudential Insurance Company of
America’s Agency, located in Wexford, PA. Jason can be
reached at:
E-mail: [email protected]
Office: 724 799-2876
Offering Securities products and services as a Registered Representative of
Pruco Securities, LLC (Pruco). The Prudential Insurance Company of America,
Newark, NJ and Pruco are Prudential Financial companies. 1 800-778-2255.
1002587-00001-00, Ed 6/27/18, Exp 6/21/2020
CRANBERRY ❘ SPRING 2020
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