Financial Health Days

I’m sure everyone has heard of and probably taken their fair share of Mental Health Days. When your job just pushes you over the edge with stress and aggravation, nothing beats a day off to relax and reload.

Considering the current economy and the millions of Americans burdened with debt, President Bush and Congress recently responded with an economic stimulus package. The hope was that Americans would spend this new found money, jump starting and recovering the economy. Was this the best way to accomplish this goal? I say no. I believe that instead of giving millions of Americans cash, the government should have subsidized one Finanacial Health Day for all American workers–a paid day off to concentrate on your personal economic state.

Okay, is this guy crazy, suggesting giving up $600, $1200, or more for just one paid day off? I must concede, I enjoyed checking my bank account and seeing and additional $600 in it. However, after the initial euphoria and thrill, the extra money has already been forgotten and is earning interest in an ING savings account. For others, I’m sure the money was quickly spent and enjoyed. Perhaps the money went to pay a bill or two. Regardless of what you did with your check, at the end of the day you likely were in the exact same big-picture financial situation.

I believe that the one of the biggest obstacles for Americans to more efficiently manage their finances is lack of time. Let’s face it, we all find it hard to carve out the time to really analyze where are money is going and how we can save more. It’s pretty easy to find something more exciting and fun to do. However, if we all devoted a single day to analyze where are money is going, organizing our debt, making short term and long term financial goals, and actually construct(not just in your head, on a piece of paper or on your computer) a monthly budget, we would all be much better of financially in the long term.

So Mr. Obama/ Mr. McCain–don’t bother sending out checks next year as it will produce only short term results. Instead, give us a Financial Health Day, a day if used properly, could completely change our long-term financial futures.