Barbara O’Neill, Ph.D., CFP®
Extension Specialist in Financial Resource Management
Rutgers Cooperative Extension
Financial well-being has been defined by the Consumer Financial Protection Bureau as a state of being where people “can fully meet current and ongoing financial obligations, can feel secure in their financial future, and are able to make choices that allow them to enjoy life.” In other words, having financial well-being means that people feel that they have financial security and financial freedom today and in the future.
Small steps can make a big difference in developing the financial well-being of ordinary people. This includes actions taken with respect to basic financial practices such as budgeting, banking, and borrowing. Below are ten strategies that can build wealth, reduce debt, and improve financial well-being over time:
Want to take small steps to improve your financial well-being? Consider one or more of the strategies listed above. Every small step that you take to improve your financial well-being makes a difference.
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