Financial Wellness Thursdays with The Beans

You do not need to have 3-6 months of income in an emergency savings account. Research shows that with just a few hundred dollars in savings you make stronger financial decisions. This cushion gives us security and allows our brains to relax which leads to healthier financial decisions.

At The Beans we set our Essential Savings objective at $2,500 and then move on to the next milestone. With $2500 in savings you are insulated from most economic shocks, meaning it’s enough to help you bounce back when something big comes up.

The order of operations is as important as the right-sizing goal. We suggest focusing on establishing your Essential Savings before trying to pay down debt. Once you do, your debt pay off will go even faster.

Learn about The Beans’ highly rated professional development programs for improving your staffs’ financial wellness + the evidence-based strategies to pay off debt faster!

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