David Lerner Associates: Financial Wellness Basics

David Lerner Associates: Financial Wellness Basics

Core Facts

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Ask one hundred people, and you’re sure to find that the great majority of them would agree.
We all want more stable finances. We all want what is now being referred to as “Financial Wellness.”

We aren’t talking about the difference between wealth and poverty here. We aren’t talking about hand-to-mouth versus upper affluent income brackets. We’re talking about a quality of life and a healthy financial life. 

Here are some things that will get you there:

1. Financial literacy

The more that you know, the more you can control and be responsible for. Taking control of your own financial life begins with learning and understanding the ABCs of finances. This could be as easy as finding a local community financial education class or researching online. But the point is that you are educating yourself. 

2. Get sound advice

Find someone whose advice you trust and know has your best interests at heart. Someone who will not push you into risky investments but rather a conservative approach to taking care of your money.

3. Budgeting

Know how much is coming in and how much is going out. And stick to your budget. Don’t get extravagant with your finances. That’s not to say you can’t treat yourself now and then, but make sure you have it in your budget before splurging. 

Take a good look at your finances, and divide your spending into categories -- food, education, necessities, luxuries, etc.

Use the technology available to you. Nowadays we can access our account online from our phones, and move funds between them. This avoids being overdrawn. There are also all kinds of budgeting apps and calculators available. 

4. Credit cards

Look at ways to get better interest rates on your existing cards and loans. This could mean the difference between being debt free and being buried under endless credit card bills. 

5. Change your mind

This is a simple attitude shift towards your own financial scene and your own financial future. There is hope. Don’t feel ashamed or guilty about your finances. It’s a state of mind. Change your attitude, and take control of your own financial future. 


Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. 




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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: www.davidlerner.com

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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