piggy bank with coins for financial health checkup

Learning The 4 Essentials Of Financial Health 

Everybody's finances are different. But most experts state financial health rests on four pillars — Spend, Save, Borrow, and Plan. It would be best if you worked to improve each one to get in the best financial state of your life. 

In the following sections, we review the four essentials of monetary health and give you tips and tricks for what to do if a crisis strikes too early in your planning phase. Regardless of how you feel about your money situation, there is always an option you're yet to consider.

The 4 Pillars Of Financial Health

Financial health is the present state of your monetary environment based on your incoming cash and expenses. A disposable income is sought-after since many families live paycheck to paycheck. 

During a financial wellness check, you can use the four pillars to achieve your goals and craft new opportunities to create disposable income.

  1. Spend

Firstly, you need to create a budget to spend wisely. Contrary to popular belief, this doesn't have to take ages. Thanks to the sheer number of budgeting apps on the market, you can set your budget quickly, making the whole process relatively pain-free.

No matter how you make the budget, it would be best to stick to it, using healthy spending habits to remain within or under budget. After all, it's only effective if you abide by its rules! Just don't make it so restrictive that you can't have fun.

couple checks up on their financial health with representative and discusses the four pillars of financial health

  1. Save

You know you should be saving every single month, but the reality of life sometimes makes that challenging (if not impossible). Generally speaking, aim to save at least 10% of your monthly income. And if that isn't possible, save as much as possible. Every little helps, even if it's a "mere" $10.

As soon as you start saving, consider these funds "untouchable." They aren't used for meeting bill payments or impulse purchases. Instead, you should save them for larger long-term goals or emergencies. Keeping a pot of cash aside will prevent overusing (and abusing) credit cards.

  1. Borrow

Ideally, debt payments shouldn't run over 15% of your income, and mortgage and transportation loans are not included. Higher debt payments can mean your debt load could be more sustainable and, thus, unhealthy. 

There's no denying that credit cards come with their perks (raising your credit score is the most often touted). However, they can be dangerous if you rely on them daily. If you have more credit card debt than is healthy, paying it down should be your utmost priority.

  1. Plan

The fourth and final pillar of financial health is Plan — where do you see your monetary life in five years, and where would you like it to be? These questions should make up a portion of your healthy economic future.

So, spend some time deciding what you want your bank accounts to look like as the calendar flips forward. Whether it's retirement funds, buying a house, or purchasing your dream car, your plan will help reprioritize your current budget, giving you more chances of achieving your overall goals.

What To Do If Crisis Strikes Early

As we mentioned earlier, saving for emergencies is part of the four pillars of financial health. However, life will only sometimes have enough funds before a crisis strikes you. If this happens, you might think you need somewhere to turn, but you'd need clarification: here at Georgia Auto Pawn, Inc., we offer safe, convenient title pawns

With a title pawn, you can borrow up to $15,000 to fund even the most significant emergencies. Unlike standard funding options, you don't need a good credit score — we use your vehicle's value to determine how much you can borrow and consider other factors of your financial climate more important than your credit rating.

Additionally, we don't ask for loads of requirements. Instead, you need:

  • a driver's license or a state-issued ID, 
  • a lien-free title to your vehicle, and 
  • your vehicle itself.

happy woman who was able to safe money with title pawn and received cash

Once you've made sure you have the requirements, follow these simple steps to get a title loan:

  1. Complete the online form.
  2. We'll call you back to confirm your information and answer questions.
  3. Bring the requirements to your meeting place.
  4. We'll inspect your vehicle to figure out how much you qualify for.
  5. Sign the paperwork.
  6. The money will hit your account on the same or the following business day.

Keep Your Financial Health On Track When Emergency Strikes With Georgia Auto Pawn, Inc. Today!

Spend, Save, Borrow, and Plan are the four pillars of financial health. By evaluating each one, you can decide whether you're in an economically healthy state or not. If the former is true, you can implement steps to fix your financial situation.

If a crisis hits before you've saved enough? Complete our online inquiry form or give your local store a call. We'll be able to guide you through the title pawn process to get your finances back on track as quickly as possible.


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.