Reset Your Finances This Weekend

You probably couldn't tell me how much money you spent last month.

According to a 2020 survey from financial-software company Intuit, at least 60% of us are unable to answer that question. And financial-service provider JG Wentworth found that folks underestimate how much the average American spends on essentials (housing, cars, gas, and groceries) by $463 a month.

Now, even if you know how much your mortgage costs each month or have a general idea of what you spend on gas... do you really keep track of how much money goes to dining out or to monthly subscriptions? All those expenses can add up quickly and eat away at your wealth without you even realizing it.

This is especially important to keep in mind as you're saving for the future or trying to figure out how much money you'd need to cover expenses if you lost your job.

This weekend, set aside a couple hours to take control of your finances...

• Calculate your net worth (the money and investments you've got, minus any debts). Then figure out your short- and long-term financial goals so you can see if you're on track or need to make some changes.

• Reflect on which expenses you can cut back on to reduce debt or increase your savings. See which of your priorities and preferences fit in with your financial goals... and what might need to change so you can support your most important expenditures.

• Open a high-yield savings account and set up automated savings so that a fixed percentage or amount gets transferred from your checking account each month. Look for an FDIC-insured bank paying at least 4% interest.

• Unsubscribe from those tempting sales e-mails. And when you think you want to buy something, enforce a "24-hour rule" and wait a day before hitting that "buy" button. That'll give you time to separate what you really want from an impulse buy.

• Keep tabs on sneaky subscription charges. Whether it's for digital streaming or the gym you went to once, those dollars can really add up – to nearly $2,000 annually for most of us. Check your credit-card statements and make a list of recurring fees. Consider cutting or pausing the ones you really don't need. For the remaining subscriptions, set a monthly reminder to check their rates because some may go up.

Once you've spent some time figuring out where your finances are today, check in regularly so you know where your money is going...

Now, let's get to this week's Q&A... And as always, keep sending your comments, questions, and topic suggestions to feedback@healthandwealthbulletin.com. My team and I read every e-mail.

Fighting Chronic Neck Pain 

Q: In your headache issue, you brought up neck pain as a contributor. I spend most of my day working at my computer and have pain pretty regularly. – V.K.

A: It only takes five minutes to save your neck...

Lots of folks like you, V.K., spend lots of time looking at their devices. But constantly tilting your head down to look at your computer, phone, or tablet can lead to neck creases and chronic neck pain, or "tech neck." Worse, you could end up with:

• Inflamed shoulder joints, lower-back pain, and tingling, numb hands
• Slipped (or herniated) discs
• Headaches
• Temporomandibular joint pain in your jaw
• Abnormal forward-curving of the neck

Do what I do... and set an hourly reminder on your phone for a five-minute break to save your neck from strain. (This also relieves strain on your eyes.) Refill your water bottle, walk around the room, and do some gentle stretches. I do shoulder rolls and carefully tilt my head in different directions.

I also recommend keeping your laptop or computer monitor at eye level. You can buy a stand... or just put it on a stack of books or a leftover shipping box.

Also consider buying an adjustable stand that holds open the pages of a book or grips your e-reader, tablet, and/or phone. Just make sure to measure the sizes of the device and check the maximum weight the stand will support.

Finally, limit your screen time in the first place... Ditch the device and get out there to enjoy the last days of summer.

What We're Reading...

• Did you miss it? You should consider owning my 'best buy' in health care right now.

• Something different: A view of Mars under a blue sky.

Here's to our health, wealth, and a great retirement,

Dr. David Eifrig and the Health & Wealth Bulletin Research Team
August 15, 2025