After talking to some friends, we realizes that life and finances can be hard to come to grips with for many people. Trying to decide what the most important things to concentrate on above everything else can be daunting, especially in today’s economy. Thus, here are our top 4 things, in order, that everyone should concentrate on before moving onto other things.
Brett_Hondow via Pixabay
1. Income.
It doesn’t matter if you’re single or have a family, live in a house or a trailer, need food or live paycheck to paycheck, the most important thing overall is income, aka making a living. Whereas there are those who will tell you that money isn’t everything, without money there’s no way you can live life the way you want to live it, or even to live life independently.
If you have no income, get some kind of job to start bringing something into the household. If you need to get two jobs. Nothing says you have to do this for the rest of your life but you’ll find that the more you try to do for yourself, the more opportunities you’ll find coming your way so you can improve your lot in life.
Or, if you don’t want a traditional job, find something you’re creative with and try to sell your services. There are sites such as Fiverr and Upwork where you can market your skills and possibly generate an income that way. If you have good editing skills or can be entertaining, maybe create a YouTube channel or start a podcast. Whatever it is, start somewhere, and build your finances up from that point.
2. Living arrangements.
You need income so you can address this second one next, that being having a place to live where you know you can come home everyday from work or pleasure, knowing where you’ll be safe and secure and comfortable… or at least have the opportunity to be comfortable.
The more income you have, the safer you can make your home, the better neighborhood you can live in, the more secure the items you might buy later will be, and the more comfortable you can be in your own space. Even if your space is a small studio apartment because that’s all you can afford, along with anything else you might need, it’s your space, and nothing says you have to stay there forever.
It’s always better if you can afford your own place. However, if you’re comfortable with others or someone specific, maybe you can share an apartment. The overall idea is to find a place where you can be comfortable once you start generating an income, a place without pressure from others that might help you reach your ultimate goals sooner.
3. Independent Transportation.
It may be nice to ride with your friend to work everyday or have someone pick you up to go out or to the store, but that also means you’re dependent upon that person or other people having the time to be accessible when you need them.
Independent transportation gives you the freedom to take care of yourself and plan your life accordingly. This doesn’t necessarily mean buying a car that you can’t afford. Taking the bus is a viable option but that means living close to a bus line. Some cities have taxis or other car services that provide transportation options but the overwhelming majority don’t offer those services in a cost effective manner for many people. If you live in a large city, think about rapid transit. If you live close to where you work or can buy food and supplies, if you can walk so much the better.
4. Health.
This one might seem an odd choice to throw in here but it’s something everyone needs to think about. Health is all encompassing, which means it covers health insurance, conditioning, skin care, dental care, nutrition, mental health… and many other things.
Did you know that 61% of all bankruptcies used to have a significant health care bill on them (there are changes coming in July 2022; check out this article)? Most people don’t think about taking care of themselves, getting physicals, eating better, taking care of their mental health, working out {which includes walking} or even keeping themselves fairly clean as often as possible. Not only are bad lifestyle actions detrimental to your health, they often cost more than some of the healthier options.
Getting regular physicals costs less than having a doctor tell you that you have cancer and need to start getting treatments for it (many insurances pay for a free physical once a year). Never or quitting smoking is a lot less costly than being told you have emphysema, which can’t be cured, or lung cancer, which is 75% fatal. Diabetes, eye problems, joint pain… you name it, there’s probably a healthy option that can save you money long term and discomfort short term.
Are there other items you believe you should look at as part of your overall financial health that you think should replace one of the above?
