Lawndale Tribune
AND lAwNDAle News
The Weekly Newspaper of Lawndale
Herald Publications - El Segundo, Hawthorne, Lawndale & Inglewood Community Newspapers Since 1911 - (310) 322-1830 - Vol. 80, No. 34 - August 26, 2021
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Finance
Improve Your Financial Health
With These Tips
(BPT) - With recent news reports focusing
on professional athletes’ mental health, the
conversation has turned to a broader shared
experience. According to a report from Insider,
athletes can suffer from mental health issues
due to the public and financial pressures
they face when competing. Many athletes
have been candid about their difficulties and
discussed how they cope. For former U.S.
speedskater Apolo Ohno, an important aspect
of caring for his holistic health is tending to
his financial health.
“Finances tend to get overlooked when
talking about mental health,” Ohno said.
“But in the same way mental wellness affects
athletic performance, your finances can
have a huge impact on your mental health.”
According to recent data from Personal
Capital and Empower Retirement, 77%
of surveyed Americans say their financial
well-being significantly impacts their mental
and physical health. Additionally, 57% say
their financial health directly correlates with
their happiness.
So clearly financial well-being is important,
but how do you achieve it? Unfortunately,
there’s no easy answer or a one-size-fits-all
solution for achieving financial health. Ohno
says for him, it’s more about the journey
rather than reaching specific milestones.
But there are some steps you can take to
start establishing some of the basics of a
financial plan.
Fifty-nine percent of Americans say having
clear goals is an important aspect of financial
health. No matter your goals, try making each
of them SMART, meaning they are:
• Specific: Know precisely what you want
to do with your money.
• Measurable: Know the exact dollar amount
you need to achieve your goals.
• Attainable: Know how you can reach your
goals based on your current budget.
• Realistic: If a goal is out of reach, find
ways to make it more attainable.
A budget can give you a holistic view of
your money habits. With a budget, it’s easier
See Finance, page 11
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