Created: May 24, 2021 09:13 AM
The standard vitals for our physical health give us an accurate picture of our wellness - but have you checked the pulse on your financial health recently?
Local Financial Professional Barry Bigelow from Great Waters Financial discusses four important vitals to check when it comes to your financial future.
"The first one is retirement savings. It's a big deal right now because according to a recent survey nearly 30% of people stopped saving for retirement due to the economic fallout and uncertainty caused by COVID-19," says Bigelow.
Some other vitals to check are monthly cash flow and debt-to-income ratio. You can reduce a lot of stress by knowing how much money you have coming in and how much is going out. Another important number is your debt-to-income ratio; it impacts your credit score and getting approved for loans or mortgages.
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