As a realtor, taking care of your finances is one of the best things you can do for yourself, but don’t forget to take care of your physical and psychological needs. Mental and physical health play critical roles in the success of any business or company. We often forget both physical and emotional health these days, when, in reality, they have a significant influence on other aspects of your life, including your financial health. Here are a few tips on improving realtor wellness.
If you want to improve or maintain your physical health, stay active. Be sure to exercise regularly and make it a part of your routine. Whether it’s running, going to the gym, walking, or swimming, find something you enjoy that will keep you physically active. You will feel more efficient and energized when working.
Consider investing in a humidifier to help reduce the transmission of viruses, improve allergies, and maintain healthy skin and hair. Implement a healthy diet and drink plenty of water and fluids.
It’s easy to get overwhelmed with negative news and social media posts. Ensure the news you receive comes from reliable sources, and limit the amount you watch or read to the most important headlines. Keep in contact with friends and loved ones at least once a week, and, if possible, safely get outside each day to exercise and get some fresh air.
Life and Community
Set up social media profiles to communicate with your friends and loved ones. An easy way to keep in touch is to create a schedule that ensures you regularly check-in with friends, family, and workmates. You can also consider volunteering in the community, or simply doing something kind for a stranger.
If you’re facing financial difficulties, reach out to your mortgage company or landlord and ask for a deferment. When cash flow is tight, you may not be able to pay your bills on time. Reach out to any creditors, such as auto or student loans, credit card companies, or medical payments, and notify them of a possible delay. Confide in a family member or a close friend when you are facing challenges and seek support.
A well thought out payment policy will help build a strong and trusting relationship with your creditors and other suppliers. If needed, reach out to your utility providers and other merchants you’re paying and request a payment extension or agree on an updated payment plan.
Resources and Benefits
Outstanding payments are one of the biggest challenges people face when going through financial difficulties. Consider researching funds that may be available to you based on your employment status, for example. Your state, county, or local community may also have additional financial resources available to you. Set up Google alerts and visit local government websites to receive notifications as new information is provided.
To avoid incurring heavy interests and fines on late payments, be sure to clear any debts and make a conscious effort to pay all invoices and bills on time. Setting payment reminders through your bank or enrolling in automatic payments should make the process a lot easier.
Tough times can be challenging but try to maintain a positive mindset. Rather than panic, follow the CDC’s guidelines for being prepared, and think of the items you might need to stock up on if you get sick: cleaning supplies, cough drops, herbal tea, etc.
Give your home a thorough cleaning by sanitizing common areas and limiting or eliminating the number of visitors. Since some of your friends or family members may not be able to leave the house, be sure to check in with them. If you need physical or emotional guidance, seek help from a medical professional, and don’t forget to inform those closest to you.
Establish an Emergency Fund
An emergency fund creates a buffer that can help you survive during tough economic times. How do you do this when you’re already on a tight budget? Cut out any unnecessary expenses and put as much as you can directly into your emergency fund. Selling off items you don’t need and saving on your tax refund can also add to your savings.
Create and Work with a Budget
Realtors can easily succumb to the pressure to drive fancy cars, wear expensive clothing, and take clients out to fancy restaurants. These items can be costly and may sink you deeper into debt. To get out of debt, start investing your hard-earned money and diversify your portfolio. Hire a knowledgeable financial planner and try to stick to a budget.
The tips mentioned should significantly improve your chances of maintaining overall realtor wellness. At Alban Inspections, we work with realtors to overcome these challenges and achieve success. Call us today at 800-822-7200 to learn more about our extensive home inspection process.