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Financial Wellness Month

This Financial Wellness Month, take control of your finances with budgeting tips and strategies to help you reach your financial goals!
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When it is?
January 1
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Country
United States
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Founded

Introduction

Start the New Year off on the right foot by taking part in Financial Wellness Month beginning January 1! This month was created to help individuals and families understand their current financial situations and make informed decisions about their finances. It's a great time to take stock of your savings, budgeting, investments, retirement planning, credit scores and more. With proper financial education and resources, you can set yourself up for long-term financial health and success. So take advantage of this month as an opportunity to get your finances in order and start the year off with a plan for a better tomorrow!

History of Financial Wellness Month

Financial Wellness Month Timeline

<div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1933</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Launch of FDIC</div><div class='timeline-text'>The Federal Deposit Insurance Corporation (FDIC) was established in response to thousands of bank failures during the Great Depression, marking an important step in protecting consumers' finances.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1974</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Introduction of IRAs</div><div class='timeline-text'>Individual Retirement Accounts (IRAs), tax-advantaged retirement savings tools, were introduced through the Employee Retirement Income Security Act.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1980</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Introduction of 401(k)s</div><div class='timeline-text'>Benefit consultant Ted Benna first applied an overlooked tax code provision to create the 401(k) plan, beginning the rise of defined-contribution retirement plans.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1988</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Money Smart Week Initiated</div><div class='timeline-text'>The Federal Reserve Bank of Chicago initiated Money Smart Week as a public awareness campaign designed to help consumers manage their personal finances better.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2004</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Financial Literacy Month</div><div class='timeline-text'>The U.S. Senate officially recognized April as Financial Literacy Month, emphasizing the importance of financial education and healthy financial habits.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2011</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>First Financial Wellness Month</div><div class='timeline-text'>The first Financial Wellness Month was celebrated, initiating an annual focus on the importance of financial health and wellness.</div></div></div>

How to Celebrate Financial Wellness Month

<div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>1</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Create a budget</h3><p id='' class='facts-text'>Creating a budget is the first step to financial wellness. Figure out your income and expenses, and make sure all your bills are paid on time and you're setting aside money for savings.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>2</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Pay off debt</h3><p id='' class='facts-text'>Take advantage of Financial Wellness Month and pay off any outstanding debt you may have. This will help free up extra money for future spending and start you on the road to financial freedom.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>3</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Set financial goals</h3><p id='' class='facts-text'>Set short and long-term financial goals to help keep you motivated to stay on track with your finances. Make sure to set measurable goals so that you can track your progress.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>4</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Educate yourself</h3><p id='' class='facts-text'>Take some time during Financial Wellness Month to educate yourself on finances by reading books, articles, and blog posts about money management. Knowledge is power!</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>5</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Meet with a financial advisor</h3><p id='' class='facts-text'>Take advantage of this month to meet with a financial advisor and discuss your current financial situation. They can provide valuable insight and advice that will help you achieve your financial goals.</p></div></div>

Why Financial Wellness Month is Important

<div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>A</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It educates us about money</h3><p id='' class='whywelove-text'>Financial Wellness Month is the perfect opportunity to take charge of your financial situation. It provides resources and information on budgeting, savings, investing, and understanding credit so that you can work towards a secure financial future.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>B</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It encourages responsible spending habits</h3><p id='' class='whywelove-text'>One of the most important aspects of Financial Wellness Month is its focus on encouraging responsible spending habits. Learning to save and be mindful of your spending can help prevent debt and ensure that you're not overspending or putting yourself in financial hardship.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>C</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It builds better financial literacy</h3><p id='' class='whywelove-text'>Financial literacy is key when it comes to achieving overall financial wellness. Giving people the tools and knowledge they need to make sound financial decisions is an essential part of Financial Wellness Month, which can set people up for long term success in their finances.</p></div></div>

5 Mindfulness Money Facts

Financial Wellness Month FAQs

When is Financial Wellness Month?

Financial Wellness Month is celebrated on January 1st every year. In 2024, Financial Wellness Month will occur on a Monday.

Financial Wellness Month Dates

Year
Date
Day

2023

Jan 1

Sunday

2024

Jan 1

Monday

2025

Jan 1

Wednesday

2026

Jan 1

Thursday

2027

Jan 1

Friday

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