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  • Writer's pictureMichael Ciardella

Understanding Cash Flow, Setting, & Meeting Financial Expectations Can Improve Your Well Being.

A short time ago, I wrote an article for the Morris County Chamber of Commerce in regards to financial wellness. The article created a lot of positive feedback and I was able to help a few people with follow up calls and consultations. Some of which have become new clients of mine. So I have decided to share that same article as my first blog post on our revamped website.

Responsible money management is often a difficult concept for many that is complicated and confusing. Yet, if we learn how to save and be financially responsible early, we can help protect ourselves in the future and improve our well-being today.

When we think of financial wellness, we think about having a healthy financial life.  We are properly protected, able to pay our debts and save money for retirement, college, and emergencies.

Here’s a closer look at financial responsibility and four key strategies we can start practicing right now.


Being financially responsible means, you have a process for managing your money that is productive and in your best interest overall. A cornerstone of financial responsibility is saving to protect yourself and the things you have. Here’s a look at a few other behaviors of a financially responsible person:

  • Understands their costs and income, budgeting to ensure all their expenses are covered

  • Saves money for the unexpected costs that will pop up sooner or later along with future items and experiences

  • Has a healthy attitude toward money, taking a long-term view and living within their means

  • Pay bills on time

  • Manages credit responsibly and looks for ways to cut costs

  • Shops around when making any financial decision to ensure they are getting the most value on expenses

  • Pursues proactive financial education, both understanding basic financial concepts and financial products

  • Has a written strategy, often created by working with a financial professional

It is important to emphasize that financial responsibility results in less stress. On the other hand, someone who is not financially responsible wings it. They may not make sure they will have enough money for their living expenses, may not save, and might need help covering their basic needs, especially when emergencies come up.


To help develop financial responsibility and wellness, here are four key strategies I can share:

  • Start saving: It’s never too early to start saving and protecting your future. When you receive money for your birthday, for a holiday, a bonus, something unexpected, or anything else, set it aside and save a percentage (at least 10% to 20%) every time.

  • Understand the cost of living: It’s very important to understand household bills and the need for emergency funds.

  • Track spending: It’s essential to understand where your money goes. Keep track of how much money you receive, how much money you spend, and what you spend it on. You may be surprised by how all the little purchases add up.

  • Educate: Learn how credit, interest, and investments work. By educating yourself, you will be able to make better decisions like managing your credit well, having a good credit score, and getting better interest rates, insurance rates, rental terms, etc.

Financial responsibility is something you can learn early on. If you can start early on, you will be ahead of the game and it can pay off later.  It is also important to remember that if you didn’t get that early start, it’s never too late to begin practicing good financial habits.

If I can be of any service to you in regards to personal finance or insurance, please do not hesitate to contact me at 973.809.6480 or email me at .


This material contains the current opinions of the author but not necessarily those of Guardian or its subsidiaries and such opinions are subject to change without notice.

Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Certified Financial Services LLC is not an affiliate or subsidiary of Guardian. OSJ: 52 Forest Ave., Paramus, NJ 07652, 201-843-7700.  2020-101869 Exp. 6/22



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