Financial Halftime with Jessie Glandon, Financial Coach at Embracing Your Means

June marks the halfway point of 2021 and, we thought that this would be an excellent time to ask Jessie Glandon, Dave Ramsey Financial Coach at Embracing Your Means, to share some mid-year check-up tips to help us make sure everyone ends the year strong!

In life, there are moments to reflect on progress- halftime at sporting events, intermission at theaters, and oil changes on cars.  Many times we don’t give our finances a “halftime” opportunity, we just keep moving along until we are forced to make a decision.

Believe it or not, 2021 is halfway over!  Now is the perfect time to take a second look and adjust your strategy. Utilizing the 5 tactics below, you will be able to boost your savings and reduce your stress before 2021 comes to an end.

• Tell Your Money Where to Go!   Budget, budget, budget! Winging your finances based on your bank account will not help in your long game.  Keeping a budget and holding yourself accountable will be impactful in building a secure financial future.  The great thing about a budget is you tell your money where to go!  Nothing is off limits as long as you are not spending more than you make.
• Identify Your Spending Triggers! We overspend when life gives us lemons. Do these sound familiar?  An afternoon slump = drive-thru coffee, exhaustion on Friday = take out for dinner, bad news = shopping online.   The more we can teach ourselves to heal without impulse, the more our budget stays consistent. Take a walk outside, call an old friend, or meditate when the unexpected happens.
• Staycations! We could all use a vacation, especially after being told we couldn’t for most of 2020.  There are amazing opportunities to get your family out of the house without having to fly to a tropical island (though that is okay too if you have planned for it!).  Check out your local campground or a book rental house in a city you want to explore.  If overnights are not an option, look for local beaches, new playgrounds, or make your backyard a fun hangout.  Imagination and creativity go a long way in creating inexpensive, fun experiences.
• Life events come with some warning! Start saving now for any event coming up in 2021 or 2022 or even 2023. As little as $50 a month for a new baby will prevent scrambling for diaper money the moment you realize you used the last one.  With the right mindset (and budget), weddings can be paid in cash, down payments can be made without pulling from retirement and even cars can be bought without financing.
• Holidays! There is a reason “Christmas in July Sales” exist- to remind us that the holidays will get here whether we are a holiday person or not.  Start making a list of everyone you want to buy for and how much you plan to spend.  Make purchases now and/or start saving money to use later. This can help avoid overbuying and decrease stress. I promise you that your November and December budget will thank you.

As we transition into the second half of 2021, keep in mind that budgets are fluid.  We should shift our strategy as often as necessary to absorb the unexpected. And if for some reason you fall off, pick yourself up and get back in the game.  The year is not over and you can win on December 31st!

Jessie is a trained Dave Ramsey Financial Coach whose personal journey to becoming debt-free has inspired her and her husband to help families across the metro-Detroit area and beyond pay off debt and “embrace their means.”

“On December 3, 2019 we made our last mortgage payment. From the start of our journey through today, we have paid off more than $300K in debt (cars, student loans, mortgage and credit cards). We no longer buy anything without the cash on hand.

As trained Dave Ramsey Coaches, we want to help you achieve a lifestyle you can embrace.” – Jessie

HighPoint Advisor Group and Kennedy Financial Group are separate entities from LPL Financial.

Jessie Glandon and Embracing Your Means are not affiliated with LPL Financial, HighPoint Advisor Group or Kennedy Financial Group.

Steven Fronrath is solely an Investment Advisor Representative of HighPoint Advisor Group, and not affiliated with LPL Financial.

Dave Ramsey and SmartVestor are not affiliated with LPL Financial.

Any economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that any strategies promoted will be successful