Your Financial Fitness Checkup

by Stacy Francis, CFP®, CDFA

Leaving the organic produce store yesterday, a flier on the revolving glass door caught my eye. It was entitled “HEALTH CHECKUP: Do You Have the Supplement Basics Covered?” and listed five types of supplements - multivitamins, enzymes, probiotics, fatty acids, and green vegetables - as the foundations for good health. Not only is it nice to know that I take all the necessary measures to ensure my physical well-being, this also translates very well to financial health.

Do you have the personal finance basics covered?

  • Do you make more than you spend? Are you able to pay all your bills in full, on time, or do you need to make more and/or spend less?

  • Do you have an emergency fund? Do you have enough money to cover six months worth of expenses, and is this money easily accessible?

  • Are you in the black? Do you pay off your credit cards in full every month? If not, draft a plan to get rid of those balances!

  • Have you thought about retirement? Do you have a 401(k), Roth IRA or similar, and do you contribute to it regularly?

  • Have you protected yourself against disaster? Do you have the insurance coverage you need, including medical, disability and homeowner’s insurance?

Yes on all? Congratulations! Chances are you’re in great financial health.

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Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.