January Marks Financial Wellness Month: Time to Assess Your Finances

January is recognized as Financial Wellness Month, prompting individuals to evaluate their financial health and set goals for improvement. A recent report indicates that only 30% of adults report good financial health, the lowest in 14 years, highlighting the need for better financial planning. Experts recommend maintaining a liquid reserve of three to six months of expenses and regularly reviewing insurance coverage to protect against unexpected events. With 69% of policyholders likely to conduct an insurance checkup this month, it's an opportune time for El Paso residents to reassess their financial situations and ensure they have adequate protections in place.

Key Details: • January is Financial Wellness Month; ideal for financial assessments. • Only 30% of adults report good financial health, lowest in 14 years. • Maintain a liquid reserve of 3-6 months of expenses. • 69% of policyholders plan to conduct an insurance checkup this month. • Regularly review insurance coverage to align with current needs.