Why It Matters:
  • You can bring attention to missed savings opportunities and valuable methods for tackling financial challenges.
  • Your client’s wealth + health depends upon daily habits that build year after year.
  • Giving your clients simple daily financial tools enriches the financial ecosystem you’re working together to build.

In addition to providing professional financial guidance, you can point your clients toward valuable financial tools that help them build wealth + health through daily habits that can help keep their personal finance goals squarely on the horizon. Here are some everyday financial tools to show your clients.

1) Automation

Chances are you’re already helping with employee retirement plans and college savings programs, but what about your clients’ budgeting tools, emergency savings approach, and bill paying methods. Encourage them to learn more about apps (such as Mint and You Need A Budget) designed to make saving, budgeting, and bill paying intuitive and automatic.

2) Maximize credit card rewards

Under the right circumstances, your clients’ spending can work for them. For example, a credit card with rewards they actually want. Of course it’s important to remind them to think about credit card spending similarly to a debit card —  real money coming out of their checking account. There are even apps, like Debitize and Debx to help them do this.

3) Stop paying full price

One way to cut spending is by doing the groundwork to find discounts and deals. Luckily, there are apps to help make it easier.

RetailMeNot provides access to coupons, product deals, storewide sales, discounted gift cards, and digital rebates to over 50,000 stores.

Key Ring is a couponing app that stores loyalty and membership cards on your phone so you’re never without a discount.

PriceBlink is a browser add-on that combs the web while you’re online shopping and  displays the best  price it finds. .

4) Look for alternatives to buying new

You might also suggest money-saving alternatives to traditional buying like: renting, buying used, and borrowing. Some suggestions include: Public libraries, tool libraries, thrift stores, Craigslist, and Freecycle.

5) Plan to eat healthy

Poor diet is related to heart disease, stroke, and Type-2 diabetes. And those health issues can lead to financial trouble. Cardiovascular disease (which includes heart disease and stroke) has been called America’s costliest disease.

But planning meals and eating healthy appears to not only ward off disease, it can save money as well. The Harvard School of Public Health recommends weekly meal prep as a way to save money and eat healthier. And the Mayo Clinic suggests preparing a meatless meal once or twice a week to improve health and save money.

6) Find a financial friend

Working toward financial goals requires discipline, and discipline usually requires accountability. Encourage your clients to share their budget and financial goals with a friend, significant other, or parent to stay on the right path.

7) Budget your fitness routine

Gym memberships can average $58 per month. But your clients can keep up with their health goals without throwing a wrench in their financial ones. Here are some ways  to save on fitness:

  • Use Meetup.com to find free workout groups or to play drop-in sports.
  • Buy used exercise equipment and old workout DVDs or tapes.
  • Only purchase gym memberships during mid-year or year-end sales. Keep an eye out for end-of-the-month offers.
  • Take advantage of free trial periods at gyms and studios.
8) Create your financial Zen garden

New technologies may have made it easier to track finances, but anyone is capable of misusing all those apps and products until they’re lost in a sea of pixels and forgotten passwords. If your client has a phone loaded with apps, a hundred half-created financial profiles, or a file cabinet stuffed with paystubs and receipts, suggest they  clear the clutter and organize their financial life to clear the path toward their financial goals.

Transamerica doesn’t endorse services or tools listed above. We recommend working with your company’s IT and HR teams to ensure you choose resources that meet your specific needs and requirements.


Things to Consider:
  • Suggest helpful apps and online financial tools.
  • Bring attention to the relationship between wealth + health when discussing the financial aspects of food and fitness.
  • Promote daily habits that build over time.

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