Just like our physical and mental wellbeing, it is important to make sure that our financial life is also in order. Most of us take care of our physical health by eating healthy, doing exercise, and emotional/mental health by meditation, social networks, etc. but when it comes to financial health, we tend to leave it to others. In most cases, women will let other (usually men) decide and plan the finances. However, it is important to learn the basics and plan together. First and foremost, just like anything else, we all need a financial plan. What is a financial plan? It is a fancy term to say that you need to know your goals/objectives, where you stand financially, and how to achieve your goals. “A financial plan is a comprehensive overview of your financial goals and the steps you need to take to achieve them. Some of the important aspects of a financial plan include a college savings plan, a retirement plan, and more.” Write down your goals- One of the first things a financial planner would ask you is what you want your money to accomplish. So that's the first thing you should ask yourself. What are your short-term needs? What do you want to accomplish in the next 5 to 10 years? What are you saving for long term? It's easy to talk about goals in general, but get really specific and write them down. Which goals are most important to you? Identifying and prioritizing your goals will act as a motivator for you to achieve these goals. Goals and objectives should be specific, measurable, and reasonable. Create a net worth statement- Achieving your future goals requires understanding where you stand today. So start with what you have. First, make a list of all your assets- such as bank and investment accounts (401k, etc.), real estate, and valuable personal property (jewelry, cash, other properties). Now make a list of all your debts (liabilities): mortgage, credit cards, personal loans- everything. Subtract your liabilities from your assets and you have your net worth. Use this number as a benchmark against which you can measure your progress. Review your cash flow- Cash flow simply means the money in (your income) and money out (your expenses). How much money do you earn each month? Now, look at what you spend each month, including any expenses that may only come up once or twice a year such as summer camps, car insurance, Holiday shopping, etc. Do you consistently save? How much are you saving? How much extra cash you could direct toward your goals? Be consistent: One of the most important parts of maintaining healthy physical, emotional, financial wellbeing is to be consistent. Just like you don’t always eat healthy (it’s okay to eat pizza, ice cream, cake, donuts in moderation) and don’t always run 5 miles, you don’t have to save 50% (or whatever that number is) income every month. That’s where your plan comes handy. Even if you splurge in some months, saving more in others will keep you on track. But, you have to be consistent and review your goals and progress often (a quarterly review is a good timeline).