You may have noticed that the stock markets saw an increase in volatility within the last few months. When navigating market ups and down it’s natural to feel overwhelmed and anxious, but here’s the thing—market volatility isn’t unusual. In fact, after the strong performance over the past year, it was almost expected that we’d see a pullback. Plus, we’re entering a time of year that’s a bit more unpredictable— with the approach of an election and September, historically, often being a weak season for the market.

But should you be worried? Should you sell everything now and wait for the dust to settle? The short answer is no. While it might be tempting to react to news headlines and short-term changes, history shows us that the market’s “average” performances are no guarantees. There will likely be sectors that do well even when the overall market isn’t at its best. During volatile periods the key is to remember the following:

1. Stock markets have cycles: Just as the seasons change, so do market conditions. What goes up will eventually come down, and vice versa.
2. It’s normal to feel anxious: Your concerns are valid, but it’s essential not to let fear drive your decisions.
3. Selloffs are a normal part of investing: While painful, they are integral to the market’s natural ebb and flow.

Strategies for Navigating Market Volatility

Diversification

Market narratives can change on a dime and a well-diversified portfolio can help manage risk and smooth out returns over time. Diversification is a strategy that involves spreading your investments across various asset classes—such as equities, bonds, and other fixed-income assets—rather than putting all your eggs in one basket. By combining different types of investments, you reduce the overall risk of your portfolio, making it easier to weather the storm during periods of market volatility. Nobody knows how long this new narrative will last. The goal of diversification is to balance risk and reward by allocating your portfolio according to your risk tolerance and financial goals, providing a buffer during market downturns.

Maintaining a Long-Term Perspective

It’s also vital to keep your long-term financial goals in mind. When the market gets rough, it can be tempting to make emotional decisions, such as selling off investments to avoid losses. However, these short-term reactions can derail your long-term plans. Instead, stay focused on your financial objectives, whether that’s saving for retirement, buying a home, or funding your child’s education. Remember, markets go through cycles, and what seems like a big deal today will hopefully not be a concern tomorrow.

How ARK Financial Wellness is Here to Help

Navigating market ups and downs can feel challenging, but you don’t have to go through it alone. Professional guidance can make all the difference during uncertain times. At ARK Financial Wellness, we’re here to help you through every twist and turn. Whether you want to discuss the current market outlook or explore strategies tailored to your goals, we’re here to support you.

Investing doesn’t have to be overwhelming. With the right approach and a little help, you can stay on course and keep working towards your personal financial goals.

As we find ourselves midway through the year, it’s an opportune moment to conduct a thorough mid-year financial wellness check-up. Just like regular doctor’s check-ups are necessary for maintaining physical health, financial check-ups are essential for maintaining financial health. This serves as an important milestone to assess your financial health, ensuring that you are on track to meet annual goals, and make any necessary adjustments. At ARK Financial Wellness, we understand that achieving financial success is not solely about accumulating wealth but also about having the health, time, and confidence to enjoy a fulfilling life. Let’s explore the key components of a comprehensive mid-year financial check-up to get your financial health and wealth aligned.

Review Financial Goals

The first step in your mid-year financial check-up is to review your financial goals. Whether you’re saving for a down payment on a house, planning a vacation, or building an emergency fund, it’s important to assess your progress. Have you met any of your goals already? Are you on track to meet others by the end of the year? If you find that you’re falling behind, don’t be discouraged. This review gives you the opportunity to recalibrate your goals, adjust timelines, and set more realistic targets if needed.

Evaluate Budget

Next, evaluate your budget. Think of this as checking your vital signs. Are you spending within your means? Are there areas where you can cut back? Review your income and expenses to ensure you’re living within your budget. If you’ve experienced changes in your income or expenses, now is the time to update your budget accordingly. Staying mindful of your spending habits and making necessary adjustments will help you stay financially healthy.

Check Emergency Fund

Your emergency fund is your financial safety net. Ideally, it should cover three to six months’ worth of living expenses. Mid-year is a great time to check the status of your emergency fund. Have you had to dip into it this year? If so, make it a priority to replenish it. If you haven’t started an emergency fund yet, begin setting aside a small portion of your income each month. A well-funded emergency fund provides peace of mind and financial stability in case of unexpected expenses such as medical emergencies, car repairs, or job loss.

Evaluate Savings and Investments

Now, turn your attention to your savings and investments. Are you taking full advantage of employer-sponsored retirement plans and other tax-advantaged accounts? Are your investments aligned with your risk tolerance and financial goals? Mid-year is a good time to review your portfolio’s performance and make any necessary adjustments. Consider consulting with a financial advisor to ensure your investment strategy is on track to meet your long-term goals. Remember, consistent contributions and a well-balanced portfolio are key to building wealth over time.

Conclusion

A mid-year financial wellness check-up is not just about ensuring your savings and income support your objectives; it’s about creating a balanced life where you have the health, time, and financial confidence to relish in family time, retire early, make career changes, start a business, take dream vacations, and enjoy countless other life experiences.

Just as you wouldn’t neglect your physical health, don’t overlook the importance of your financial health. By reviewing your financial goals, evaluating your budget, checking your emergency fund, and assessing your savings and investments, you can make informed decisions for a more prosperous financial future. Take this opportunity to make any necessary adjustments and set yourself up for a successful second half of the year!

With the warmer months often comes an increase in spending, whether it’s on vacations, outdoor activities, or cooling your home. However, with strategic planning and smart choices, you can enjoy the season without derailing your budget. At ARK Financial Wellness, we believe that financial health and enjoying life are not mutually exclusive. Here are some practical tips to help you make the most of your budget this summer!

Budget-Friendly Vacation Ideas

Instead of splurging on expensive travel, consider a staycation. Exploring local attractions such as parks, museums, and historical sites can be an enjoyable and cost-effective alternative to traveling far. Many of these places offer free or discounted admission for residents. Planning activities in your local area allows you to enjoy new experiences without the added costs of travel and accommodation.

If you do plan to travel, try to do so during off-peak times. Airfare and hotel rates are often lower during weekdays and outside of traditional vacation periods. Planning your trip for early or late in the season can result in significant savings. Additionally, embrace the great outdoors with camping, hiking, swimming, and other outdoor activities.

            Here are 7 Creative Activities to Guarantee Happy Campers this Summer

1. Backyard camping – Set up a tent in the backyard and have a camping adventure under the stars. Roast marshmallows, tell stories, and enjoy the simplicity of being outdoors together.
2. DIY water park – No pool? No problem! Create your own water park in the backyard with sprinklers, water balloons, slip ‘n’ slides, and kiddie pools. It’s a fun and refreshing way to beat the summer heat.
3. Outdoor movie night – Set up a projector and screen in the backyard, grab some blankets and popcorn, and enjoy a movie night under the stars. Let each family member take turns choosing their favorite film — here are a few suggestions to get you started.
4. Plant a garden – Gardening is a great way to teach children about the cycle of life, nature, and the science of plants. Plus, if you plant vegetables or herbs, you’ll have fresh produce to enjoy. The easiest ones to grow? Bell peppers, blackberries and raspberries, cabbage, and cucumbers.
5. Visit nearby state parks and museums – In the busyness of the school year, it’s easy to overlook the place you call home. Take advantage of the beautiful weather this summer and plan a day trip to explore a nearby state park. It’s a great opportunity to experience nature, take memorable photographs, and maybe spot some wildlife.
6. Serve your city – Dedicate a day (or more!) to volunteer as a family, engaging in activities that contribute to the well-being of your community, such as local clean-ups, helping out at a community garden, or offering your skills and time to a neighborhood project. Find family-friendly opportunities near you here.
7. Plan a “Yes Day” – Set aside a day where you say “yes” to your kids’ reasonable requests, whether it’s an ice cream breakfast, pillow fort construction, or a late-night movie marathon. Read more about the “Yes Day” trend here.

You might also check out STL Moms Guide to Summer in St Louis, with TONS of fun ideas around town for families, kids and adults alike!

Energy-Saving Tips for Your Home

To optimize your cooling system and reduce energy costs, consider installing a programmable thermostat. This allows you to set the temperature higher when you’re not home and lower it when you are, leading to significant energy savings. Additionally, use ceiling fans to circulate air and reduce the need for air conditioning. Make sure fans are set to rotate counterclockwise, which pushes cool air down.

Check windows and doors for gaps and seal them to prevent cool air from escaping. Simple weather stripping or caulking can improve your home’s energy efficiency. Using blinds, curtains, or shades to block out the sun during the hottest parts of the day can also reduce cooling costs.

By implementing these savings tips, you can enjoy all that the season has to offer without straining your budget. Small changes can lead to substantial savings, allowing you to fully enjoy the season while staying financially healthy. Happy summer saving!