HealthyLife Articles

Category: Financial Health

How To Set Up An Emergency Fund

FINANCIAL HEALTH

An emergency fund is a great way to save yourself from financial disaster. It gives you peace of mind when unexpected expenses come up. And, it may help keep you out of debt when you need extra money for an emergency. People who don’t have emergency funds may have to turn to high-interest loans or more credit card debt.

It can be difficult to set money aside when it’s being used for other day-to-day things. But, it is possible to do with a little discipline and planning. Here’s how:

*Make it automatic.Have some money automatically put in a separate account with each paycheck. Even if the amount is small, it can add up over time. An automatic transfer is more convenient than doing it yourself. You may find that after a while, you don’t miss that extra money. You learn to get by without it.

*Make it a priority.Pay your emergency fund first, before you use your paycheck for non-necessary items. Make a budget that doesn’t include your emergency money. This will ensure your bills and other necessities get paid without skipping your emergency fund payment.

*Use a bank or credit union savings account.These are easier to access in an emergency than savings bonds, mutual funds or certificates of deposit (CDs). But, don’t put it in your regular checking account, where you may be tempted to use it for a non-emergency.

*Keep the account totally separate.Make sure that account is for emergencies only. Make it a savings account instead of checking. Be sure the account doesn’t include fees or penalties.

*“Do I need this?”Cover your credit card with a savings message to reduce non-essential spending.

Creative ways to save

Think of little ways you can change your daily routine to save money. You’ll be surprised how much you can save!

Put away $.50 a day in loose change.

Monthly savings: $15

Yearly savings: $180

Skip the coffee out and bring your own from home.

Monthly savings: $80

Yearly savings: $960

Bring your own lunch 3 days a week instead of eating out.

Monthly savings: $96

Yearly savings: $1,152

Eat dinner at home 2 more times per month.

Monthly savings: $40-80

Yearly savings: $480-960

Source: Consumer Federation of America

© American Institute for Preventive Medicine

January 23, 2026
Stop! Thief

FINANCIAL HEALTH

When your purse or wallet is lost or stolen, do you know the 8 steps you need to take right away because the thief is already cashing in on your loss? Act fast, advises the Federal Trade Commission:

1. File a report with the police immediately. Get a copy in case your bank, credit card company, or insurance company needs proof of the crime.

2. Report the loss to your bank. Cancel checking and savings accounts. Open new ones, and stop payments on outstanding checks. Cancel each credit and charge card. Get new cards with new account numbers. Get a new ATM card, account number, and PIN or password.

3. Call your utility companies. Tell them that someone may try to get new service using your identification.

4. Report your missing driver’s license to the department of motor vehicles.

5. Report missing cards to the major credit reporting agencies and place a fraud alert on your accounts: Equifax: 1-800-525-6285, Experian: 1-888-397-3742, TransUnion: 1-800-680-7289.

6. Change the locks on your home and car if the keys were taken.

7. Contact the Social Security Administration. Call: 1-800-772-1213.

8. Contact your insurance companies. Make sure no one tries to add someone to your policies.

© American Institute for Preventive Medicine

January 23, 2026
How To Stop Impulse Buying

FINANCIAL HEALTH

Many people have bought something at the store that they didn’t plan to get. If you buy something simply because you see it and want it, this is called an impulse buy.

Some estimates show that the average American spends a few thousand dollars a year on impulse buys. These purchases can add up to big spending.

If you’re trying to save money, take a look at your buying habits. It’s possible that your unplanned impulse purchases are standing in the way of a healthy budget and your long-term financial goals.

Try not to dwell on past impulse purchases. Instead, look to the future and decide that you will resist the urge to buy things you don’t need.

Why we impulse buy

Stores use certain tricks and techniques to make impulse buys happen. Plus, specific things happen in our brains while shopping that can lead to an impulse buy. Some of the reasons we buy things on impulse:

1. A love of shopping and new things. Shopping can release feel-good chemicals in the brain. Once we experience this kind of pleasure, it can become a habit that is hard to break.

2. Fear of missing a deal. Our desire to save money can lead to impulse buying. We see a deal on something and wonder if we will regret not buying it later.

3. Hope that having this item will make our life better. For example, someone may think that buying a new blender means they will make a vegetable smoothie every day. Or, if someone is feeling depressed or angry, they may think this new item will fix their problem.

How to stop impulse purchases

If you think impulse buying is affecting you, there are ways to stop. Keep these things in mind when you go shopping:

* Stop and think about the price. Ask yourself whether that item is truly worth what it costs. Think about how many hours you would have to work to pay off that item. Is it really worth buying?

* Bring a list. Make your shopping list in advance and buy only those items.

* Don’t use credit cards. If possible, only shop with cash or a debit card. This means you won’t have seemingly unlimited funds. If that’s not possible, picture next month’s bill with that item on it. That number on your statement may make the item less appealing.

* Don’t shop when you’re hungry, stressed, angry or sad. These emotions can prompt you to buy unwanted things.

© American Institute for Preventive Medicine

January 23, 2026
Talk Smart About Finances

FINANCIAL HEALTH

Economic flux hurts more than our wallets. Financial woes can lead to emotionally damaging arguments among couples and put unnecessary strain on the family, said Josh Klapow, PhD, a clinical psychologist and professor at the University of Alabama at Birmingham. Dr. Klapow is the author of Living Smart: 5 Essential Skills to Change Your Health Habits Forever.

He said financial discussions, and even disagreements, can have a positive impact on families struggling through uncertainty. The key is to make those discussions productive, not destructive. Dr. Klapow offers 5 talking tips:

1.Keep a cool head.When your emotions are high-be it anger, sadness, frustration-thoughts get cloudy. Relax, breathe, wait 2-10 minutes, then start to talk.

2.Start easy.Arguments often start because of a critical remark or an angry tone. Try to bring up problems and mistakes gently and without blame.

3.Don’t assume.Talk about your feelings, not what you think your spouse or partner is feeling. Describe your feelings in first person with “I” and explain why.

4.Think then speak.The goal of the conversation should be to problem-solve, not to win. Remember, once the words are out, you cannot take them back.

5.Repair and recover.Don’t let the discussion get out of control. End on a positive, or at least neutral, note. Lean on patience, change the topic, or offer a positive comment to let the other person know you’re part of the same team.

© American Institute for Preventive Medicine

January 23, 2026
Learn How To Check Your Credit Report

FINANCIAL HEALTH

The Consumer Financial Protection Bureau says everyone should check their credit report at least once a year. The information on your credit report could affect your ability to get a mortgage, car loan, a credit card or other loans. It can also affect the interest rate you get. Usually, a higher credit score makes it easier for you to get a loan and a lower interest rate. Most credit scores range from 300-850.

You are entitled by law to a free report from all three credit reporting agencies (Equifax, Experian and TransUnion) once every 12 months. Take advantage of it – and check it over carefully when you receive it.

But what should you look for when you get your report? Errors can happen, so be on the lookout for:

* Wrong name, phone number or address

* Accounts that don’t belong to you (this can happen when two people have similar names, or as a result of identity theft)

* Closed accounts reported as open

* Being listed as owner of an account where you are only an authorized user

* Accounts incorrectly reported as late or delinquent

* Wrong dates of payments, when the account was open or delinquency dates

* Same loan or debt listed multiple times (possibly with different names)

* Past errors that were corrected that may show up again

* Incorrect current balance or credit limit

* Accounts that appear more than once with different creditors listed (especially in the case of delinquent accounts or accounts in collections)

If you find errors, contact:

* The credit reporting company who sent you the report, or

* The creditor or company that provided the incorrect information. This is known as the “furnisher” of the information.

Your credit report tells you how to dispute inaccurate information. Sample dispute letters are available atwww.consumerfinance.gov. Go to Consumer Tools, then click on Credit Reports and Scores. You can use these letters if you find something incorrect on your credit report.

How do I get my report?

Many websites claim to offer free credit reports. But, some of them are trying to sell other products or services. To get your free credit report authorized by federal law, visit:

* AnnualCreditReport.com, or

* Call 1-877-322-8228

This website offers free reports only, not scores. Your credit score is available for a fee. You do not have to buy any products or services advertised onannualcreditreport.com.

You can also contact the credit agencies directly if you have questions or problems with your report:

* Equifax: 1-866-349-5191

* Experian: 1-888-397-3742

* TransUnion: 1-800-916-8800

© American Institute for Preventive Medicine

January 23, 2026
Teaching Kids To Manage Money

FINANCIAL HEALTH

Good money management habits start early. In fact, even preschool age children can begin to learn about money and how to use it responsibly. Parents and caregivers have the power to teach children about proper spending, saving and sharing from a young age.

Preschool age

* Use play money to “buy” items.

* Teach children about work. Tell them how your job helps you pay for things like food and clothes.

* Take them to the grocery store and talk about what items cost.

* If children get money for a birthday or holiday, have them put it in their piggy bank instead of spending it right away.

School age

* Discuss the prices of items while shopping. Show your kids your shopping receipts and explain how much items cost.

* Have kids help you clip coupons and talk about how much you can save.

* Open a savings account for your child.

* Consider giving an allowance for chores. Talk to them about saving their allowance to buy something later, rather than spending it all now.

Teenagers

* Show your teen how to balance a checkbook.

* Discuss responsible credit card spending and avoiding credit card debt.

* If your teen has a job, talk about taxes and help them fill out their income tax form.

* Explain how automobile and health insurance works.

Don’t feel pressured to give your child a complete course in finances. Children learn by watching others, so setting a positive example for spending and saving is a great way to teach.

Source: University of Minnesota Extension

© American Institute for Preventive Medicine

January 23, 2026
Managing Financial Stress

FINANCIAL HEALTH

Do finances keep you awake at night? If so, you’re not alone. More than 75 percent of Americans say money is a big source of stress, according to the American Psychological Association (APA).

Although we can’t always change our financial problems right away, we can learn to cope with this type of stress. This can help you stay healthier and learn to deal with challenges in a positive way.

If you’re stressed about money, try these tips:

*Remain calm and make a plan.It can be easy to get caught up in the panic of the moment when a problem arises. A sudden expense needed for an emergency or stories about a “bad economy” in the news can make things feel hopeless. Instead, think about small steps you can take now to improve your budget. This may be writing down a few specific ways you can cut back on expenses. Or, look at your past spending and make a plan to cut back on things you can do without for now.

*Look at the positive side of being thrifty.Eating meals at home instead of at a restaurant can be a fun family bonding time. Have everyone help prepare the meal or pick out their favorite dish for the weekly menu. Can’t afford a fitness membership? Exercise with a family member or friend at home and make it fun.

*Be proud of progress.If you saved $5 by making your coffee at home rather than buying it at a coffee shop, that’s a step in the right direction. Think about the little ways you can save money and how they add up over time. These small successes can get you to your goal.

*If you can’t pay your bills, ask for help.Banks, utilities and credit card companies will often give you extra time to pay if you’re in a financial crisis. It doesn’t hurt to call and ask.

*Identify unhealthy behaviors.If you deal with stress by drinking alcohol, smoking or gambling, this will often make matters worse. Not only do these habits cost more money, but they can cost you your health, job and relationships. Healthy ways to cope with stress include exercise, deep breathing, eating a balanced diet, listening to music or calling a friend. If you need help with unhealthy behaviors, ask your doctor or look into community support groups.

Source: American Psychological Association

© American Institute for Preventive Medicine

January 23, 2026
Tips To Save On Your Summer Vacation

FINANCIAL HEALTH

You want your vacation to be memorable, but you probably don’t want to remember spending a lot of money. With some advanced planning, you can save a good amount of your travel and vacation expenses. Here’s what travel experts recommend:

*Don’t pick prime times for flights.If you’re flying, you’ll usually pay less for airline tickets during off-peak times. This means flying during the middle of the week, early in the morning or late at night.

*Be flexible.When booking airline tickets, choose the flexible dates option to find the lowest price for airfare. Sometimes, the savings can be substantial.

*Visit during the off-season.Many people travel to warm, tropical destinations during the winter months. Try going during the late fall or early spring instead.

*Check out renting a house.Many destinations offer houses for rent at about the same price per night as hotels but with much more space. When you share with another family, you split the cost for even more savings.

*Look for online deals & coupons.Look online for local activities you want to do, such as visiting museums or scuba diving excursions. Many places offer deals or coupons if you book in advance. You may also be able to avoid lines for buying tickets.

*Don’t forget your discounts.Companies like AARP and AAA often have discount rates for members. Some employers have discounts available to employees for car rentals and other vacation items.

*Pack snacks.Pack healthy snacks in a cooler for a car trip like fresh-cut fruits and vegetables. For flights, bring your own food to the airport and eat before getting on the plane. Keep in mind liquids more than 3.4 ounces can’t be taken through the security checkpoints.

*Get a kitchen.Look for hotel rooms that have a full kitchen so you can store food and beverages, cook your own meals and avoid the higher costs of eating out.

*Try camping.Instead of traditional hotels, look for campsites. Camping often costs a fraction of what a hotel costs, as long as you have a tent, mats to sleep on and a few more basic camping supplies.

*Look nearby.If the prices of airline tickets and hotels aren’t in your budget, look for daytrip options. Destinations within 2 hours of home are often doable for families and can be just as fun as a longer trip.

© American Institute for Preventive Medicine

January 23, 2026