# 10 Tips for Financial Wellness from Eric Blue, CEO of Nevly
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-01
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: Eric Blue's Top 10 Tips for Financial Health and
Meta Description: Learn how Eric Blue, CEO of Nevly, helps individuals strengthen financial health with personalised insights and advice. Follow his tips for success today!
URL: https://financedigest.com/10-tips-for-financial-wellness-from-eric-blue-ceo-of-nevlyhtml

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Eric Blue’s career as an entrepreneur and experienced finance professional helps him understand the importance of maintaining financial health and wellness. As the founder and CEO of Nevly, a fintech startup focused on strengthening consumer financial health by leveraging data to deliver personalized insights, Blue has a professional perspective on individuals’ challenges when managing their finances.

Following these ten tips from [Eric Blue for achieving financial health and wellness](https://www.ericblue.me/) can be a great starting point for people looking to turn things around immediately. Eric Blue built Nevly to help individuals with all ten tips, but individuals can also be more conscientious about their money. The goal of Nevly is to help aid and educate along the way.

## 1\. Create a Reasonable Budget

The foundation of any healthy financial [plan is to have a budget](https://www.financedigest.com/austria-plans-to-bring-budget-deficit-within-3-of-gdp-next-year.html "Austria plans to bring budget deficit within 3% of GDP next year"). Start by tracking income and expenses. After that, set goals for how much to spend in each category. Bills are obvious, but make sure to include savings in the budget. Committing to saving a percentage of income each month can pay dividends long-term.

A budget helps people understand their spending habits better, prioritize correctly, and make better decisions overall. Eric Blue has said that the ARLO [app has a chance to impact](https://www.financedigest.com/the-growth-of-mobile-fintech-and-the-impact-for-mobile-app-marketers.html "The growth of mobile fintech and the impact for mobile app marketers") how a person budgets considerably. Budgeting becomes easier, whether it’s having easy access to the numerous tools in the app or getting information from the Nevly Brain Trust.

## 2\. Build an Emergency Fund

No one can [predict the future](https://www.financedigest.com/covid-19-impact-on-attitude-and-heading-reference-systems-market-volume-analysis-future-prediction-industry-overview-and-forecast-2028.html "Covid-19 Impact On Attitude and Heading Reference Systems Market | Volume, Analysis, Future Prediction, Industry Overview And Forecast 2028"). Life is full of unexpected expenses, from car repairs to medical bills. Serious [issues](https://www.financedigest.com/9-issues-in-corporate-finance-and-strategies-to-overcome-them.html "9 Issues in Corporate Finance and Strategies to Overcome Them") can wreck a person financially if they aren’t prepared. An emergency fund can help people survive significant matters without relying on [credit cards or other high-interest debt](https://www.financedigest.com/what-happens-to-credit-card-debt-when-you-die.html "What happens to credit card debt when you die") options. A realistic goal for many is to [save enough money](https://www.financedigest.com/5-saas-tools-to-help-your-company-business-save-money-in-2022.html "5 SaaS Tools To Help Your Company/Business Save Money in 2022") to cover 3-6 months of living expenses.

Avoid dipping into an emergency [fund](https://www.financedigest.com/where-can-you-start-building-your-emergency-funds.html "Where Can You Start Building Your Emergency Funds?") for anything other than an actual emergency. Having multiple months as a cushion makes survival easier without a job. Not feeling forced to juggle finances during an emergency frees the mind up significantly.

## 3\. Eliminate High-Interest Debt

Have high-interest debt? If so, it can significantly drain a person’s finances. Plan to pay off these debts as quickly as possible, starting with the balances that carry the highest [interest rates](https://www.financedigest.com/london-stocks-slip-ahead-of-key-interest-rate-decisions.html "London stocks slip ahead of key interest rate decisions").

Look for creative ways to get rid of the high-interest rates as well. Balance transfers and consolidation loans exist to help people with more manageable monthly payments. [Interest rates](https://www.financedigest.com/boes-pill-sees-need-for-further-interest-rate-rises.html "BoE’s Pill sees need for further interest rate rises") above 20% APR can cost an individual a lot of money.

## 4\. Make Savings Automated

![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-1018113378-1736814087204-compressed.jpg)

\[Alt Text: Eric Blue, CEO of Nevly, offers 10 tips for financial wellness, one of which is to set up an automatic transfer to savings accounts to keep on track with your financial goals.\]

People struggling to [save money](https://www.financedigest.com/saving-money-hacks.html "Saving money hacks") consistently should consider setting up automatic transfers to stay on track. This way, a portion of every paycheck gets set aside before there is a chance to spend it.

Not only is consistency a great thing with saving but there’s also a certain peace of mind and a reduction in decision fatigue when having it automated. As savings grow, there is less worry about unexpected expenses that can harm long-term financial health. A set amount of [money from each paycheck can eliminate the need to decide how much to save](https://www.financedigest.com/how-to-save-money-as-a-student-during-the-cost-of-living-crisis.html "How to Save Money as a Student During the Cost of Living Crisis") and reduce decision fatigue.

## 5\. Invest for the Long-Term

Investing in the stock [market can be a great way to grow](https://www.financedigest.com/electric-kick-scooter-market-is-projected-to-reach-6-5-billion-by-2031-and-estimated-to-grow-at-11-5-cagr-between-2021-and-2031.html "Electric Kick Scooter Market is Projected to Reach .5 billion by 2031, And estimated to grow at 11.5% CAGR between 2021 and 2031") wealth over time, but more people need to consider a long-term approach. Avoid chasing hot [stocks or trying to time the market](https://www.financedigest.com/bitcoin-falls-to-22-month-low-as-stock-markets-tumble.html "Bitcoin falls to 22-month low as stock markets tumble") perfectly. Instead, focus on building a [diversified portfolio](https://www.financedigest.com/how-to-successfully-diversify-your-portfolio.html "How to Successfully Diversify Your Portfolio") that aligns with long-term goals. Slow and steady investing is generally safer.

Eric Blue believes that Nevly is a great way to invest for the long term. There’s an Asset Growth Program available to every member. The goal is to [build for a better tomorrow](https://www.financedigest.com/whats-required-of-accounting-to-build-a-better-tomorrow.html "What’s required of Accounting to build a better tomorrow") through the program.

## 6\. Maximize Retirement Contributions

Many employers offer [retirement plans](https://www.financedigest.com/should-i-roll-my-old-retirement-plans-into-a-roth.html "Should I Roll My Old Retirement Plans into a Roth?") like a 401(k) or IRA. Take advantage of them, maximize contributions if possible, and [consider investing](https://www.financedigest.com/4-important-factors-to-consider-when-choosing-an-eb-5-visa-investment-project.html "4 Important Factors to Consider When Choosing an EB-5 Visa Investment Project") in low-cost index or target-date funds.

The earlier a person starts to save for retirement, the easier it is to build up a sizable amount of money. Having a greater knowledge of how [retirement works is part of financial planning](https://www.financedigest.com/retirement-planning-in-the-new-normal-embraces-many-approaches.html "Retirement Planning in the “New Normal” Embraces Many Approaches"). This money needs to remain untouched until retirement day comes. But, with compound interest, there’s a tremendous amount of value out there.

## 7\. Protect Assets with Insurance

[Insurance can help protect](https://www.financedigest.com/how-to-choose-the-best-income-protection-insurance.html "How to Choose the Best Income Protection Insurance") people from financial setbacks caused by accidents, illness, or other unexpected events. Ensure adequate coverage for home, car, health, and life protection.

No one enjoys spending [money on insurance](https://www.financedigest.com/working-from-home-heres-how-you-can-save-money-on-your-auto-insurance.html "Working From Home? Here’s How You Can Save Money on Your Auto Insurance"), but it’s better than being left with nothing. This type of safeguard prevents months, or even years, of [hard work](https://www.financedigest.com/uk-pm-sunaks-office-says-the-hard-work-begins-now35794.html "UK PM Sunak’s office says ‘the hard work begins now’") from going away.

## 8\. Plan for Major Life Events

Whether someone’s getting married, having a baby, or buying a house, major life [events can significantly impact](https://www.financedigest.com/impact-com-announces-partnerships-experience-event-ipx-bringing-together-all-players-in-the-partnership-economy-and-featuring-special-guest-trevor-noah.html "impact.com Announces Partnerships Experience Event, iPX, Bringing Together All Players in the Partnership Economy and Featuring Special Guest Trevor Noah") finances. Plan and make [sure](https://www.financedigest.com/making-sure-you-are-compliant-when-working-in-the-finance-industry.html "Making Sure You Are Compliant When Working in the Finance Industry") to have a financial strategy in place that aligns with money goals.

It’s much easier to [come up with the necessary money to fund major life events when a plan](https://www.financedigest.com/uk-orders-housebuilders-to-come-up-with-5-billion-plan-to-remove-cladding.html "UK orders housebuilders to come up with  billion plan to remove cladding") is in place. Try contributing some cash each month if something is on the horizon. Using credit for a big purchase can be tempting, but that makes everything more expensive in the long run.

Anyone needing to adjust their budget [due to an upcoming](https://www.financedigest.com/subsea-navigation-and-tracking-market-one-the-most-booming-industry-in-upcoming-years-due-to-global-demand-in-industry-by-2027.html "Subsea Navigation And Tracking Market| One the Most Booming Industry in Upcoming Years Due to Global Demand in Industry by 2027") major life event can do so with a few simple updates through Nevly. Life changes constantly happen, and being able to change on the go ensures that no one misses a beat.

## 9\. Embrace Financial Education and Resources

Financial literacy is a crucial component of achieving financial health and wellness. Look for resources and educational opportunities that can help build knowledge and skills. Online courses, books, and workshops all help educate. Using Nevly helps, as many of the tools teach people more about their finances as time goes on. Real-world learning is one of the easiest [ways to feel comfortable with money](https://www.financedigest.com/three-ways-that-2022-is-going-to-change-how-you-think-about-money.html "Three ways that 2022 is going to change how you think about money").

Thanks to the input from early Nevly users so far, Blue is looking to add even more information as time passes. It’s all about keeping up with the times and understanding everything.

[Eric Blue continues to listen to input from people using Nevly Money](https://www.24-7pressrelease.com/press-release/498747/eric-blue-how-the-nevly-app-can-help-with-improving-your-financial-health) as he adds and refines tools for the upcoming ARLO App. Eric Blue has said that he wants the ARLO App to launch as one of the [top mobile resources in the fintech](https://www.financedigest.com/top-fintech-trends-for-2021-enabling-smart-and-secure-finance.html "Top Fintech Trends for 2021 Enabling Smart and Secure Finance") industry.

## 10\. Build a Support System

[Managing finances](https://www.financedigest.com/how-application-management-can-help-tackle-the-finance-industrys-carbon-emissions.html "How application management can help tackle the finance industry’s carbon emissions") can be challenging, especially for those facing financial hardship or uncertainty. [Build a support system of trusted](https://www.financedigest.com/how-financial-services-can-secure-data-and-build-trust-in-todays-modern-environment.html "How financial services can secure data and build trust in today’s modern environment") friends, family, and financial professionals who can provide guidance, accountability, and encouragement.

Nevly is a great starting point for a robust support system financially. The app keeps people locked in and ready to [manage all parts of their life from a money](https://www.financedigest.com/fine-tuning-your-money-management-skills-today.html "Fine-tuning your money management skills today") perspective.

## Leveraging the ARLO App to Enjoy Quality Financial Health

By following these ten tips, a person can take control of their finances and work towards achieving financial health and wellness. A company like Nevly, focusing on [empowering](https://www.financedigest.com/the-digital-finance-revolution-empowered-consumers-turn-digital-to-protect-financial-security.html "The digital finance revolution: empowered consumers turn digital to protect financial security") underserved communities through financial education and access to capital, can provide the tools and resources to find success.

Eric Blue hates [seeing people in today’s world](https://www.financedigest.com/in-u-turn-iea-sees-world-weathering-lost-russian-oil-supply.html "In U-turn, IEA sees world weathering lost Russian oil supply") deal with struggles reminiscent of those of his childhood. The information wasn’t readily available then, and there was a noticeable gap between the haves and the have-nots. People willing to learn and take advantage of the top financial options today can set themselves up for [success without breaking the bank](https://www.financedigest.com/is-automation-key-to-esg-success-in-the-banking-and-finance-sector.html "Is automation key to ESG success in the banking and finance sector?").

Nevly Money is available now, and it’s received outstanding feedback [offering web-based services](https://www.financedigest.com/barclays-sets-up-taiwan-subsidiary-to-offer-brokerage-services.html "Barclays sets up Taiwan subsidiary, to offer brokerage services"). Eric Blue said the ARLO App [plans to launch](https://www.financedigest.com/britain-launches-plan-to-ease-doctor-waiting-lists.html "Britain launches plan to ease doctor waiting lists") later this year. It is an all-in-one mobile solution providing the most accessible access possible to handle [money daily](https://www.financedigest.com/money-and-technology-the-continued-integration-of-fintech-with-daily-lives.html "Money and technology – the continued integration of fintech with daily lives").


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