Practicing Financial Self-Care in September

September is National Self-Care Awareness Month, which means now is the time to prioritize yourself. Of course, self-care isn’t about being selfish: it’s about taking time to focus on your needs. If you’ve been feeling off-balance financially, here are nine ways to treat yourself to a little financial self-care in September.

1. Set Financial Goals – No matter where your finances are at the moment, it’s important to have future goals. Financial goals give you a target to aim for and turn financial management into an optimistic, aspirational pursuit. This month, make a list of five to ten goals such as: save up for a vacation, pay off X% of a credit card debt, or start an IRA (Individual Retirement Account).
   
   
2. Track Your Spending – While money tracking may sound like a chore, many people find that getting a firmer sense of what they spend and when can reduce financial stress. There’s no one right way to track your spending. Some people use an app like PocketGuard that connects to your cards, some people create a spreadsheet and fill it in daily, and some people simply break out the pen and paper whenever they make a purchase.
   
   
3. Review Financial Accounts – Once you’ve got a handle on your spending habits, it’s time to do a thorough review of your financial accounts. Knowing precisely what’s happening in your accounts means more peace-of-mind on a daily basis. Check account balances, but also review your current interest rate and yearly fee. Are your account benefits matching up to your current financial needs? If not, investigate other options on the market.
   
   
4. Plan for Future Expenses – Do your future self a favor and start planning now for purchases you’ll need to make in the future. Holiday shopping, for example, is a lot less painful on your bank balance if you prepare ahead of time. Consider starting a Club Savings Account to save automatically for a specific need by making regular contributions through payroll deductions.
   
   
5. Educate Yourself – Boosting your financial education is an investment in yourself. What aspects of money are you less clear about? What terms do you keep hearing, but don’t totally understand? This September, take a little time to learn about APR, or refinancing, or how to deal with debt. Harvard FCU offers a variety of free workshops and webinars accessible online, so check it out here.
   
   
6. Evaluate Debt – Living with debt can have an exponential affect on your finances; causing you to owe more and more money, at a higher and higher interest rate, the longer you put off repayment. As an act of self-care, evaluate your debt this September and develop a debt repayment strategy. Dealing with debt isn’t always easy, but with professional support, you can pave the way to zero debt and a healthier credit score.
   
   
7. Plan for Retirement – It’s an amazing feeling to become more secure about what your financial future holds. If you haven’t spent much time planning for retirement, do so this September. Check in with your employer about your 401(k) plan. How much is in there? How’s it being invested? If you have an IRA, review your portfolio; and if you don’t have an IRA—which offers tax-advantaged savings for retirement—considering opening an account this month.
   
   
8. Seek Professional Advice – Self-care doesn’t mean you need to do everything on your own. In fact, asking for help is one of the greatest acts of care we can give ourselves. As a benefit of Credit Union membership, Harvard FCU members can access the GreenPath Financial Wellness Program which offers free debt counseling with a qualified counselor, a credit report review, and lots more. Visit GreenPath online at: harvardfcu.org/thrive/greenpath
   
   

9. Celebrate Small Wins – If you recently paid your credit card bill on time, or made coffee at home instead of spending $6 on an iced latte, or put a few dollars toward a saving goal—celebrate it! Focusing on what’s going right with your finances is an act of self-care, and will put you in a more positive frame of mind when it comes to addressing the challenges.