Why financial wellness needs to be on your radar!
“Financial wellness is about developing a healthy relationship with money—to include feeling a sense of control over short-term financial obligations while also successfully working toward moderate and longer term goals”. More and more people demonstrate an increasing desire for financial independence. We see a lower likelihood of debt (especially among millennials) and a stronger appetite for online budgeting tools.”
“Financial independence affords us the opportunity to live the way that we want.”
So why are terms like “high-yield savings” and “compound interest” taking over our wellness lexicon?
And while those items aren’t necessary to living a fulfilled life, an occasional splurge can add mileage to your overall positivity meter. “Financial independence affords us the opportunity to live the way that we want”.
Yes, the word tells us: money answers ALL THINGS.
Why financial health is top of mind now more than ever
Women realize that money can be the foundation for their ability to take risks. “Whether it is to start a business, learning a skill, ... [it’s beneficial to have] their finances in order.”
And that can lead to having more freedom in your career. A top question that keeps coming up is: How can I make money doing what I love? “There is a shift going on that is empowering us as women”. We are reclaiming our power and looking for ways to make money and enjoy it.”
As more people align themselves with full-picture wellness, confidence in your finances becomes a huge part of the feel-good puzzle. “People want to be emotionally, mentally, and physically well and finances naturally fit into this. We want to equip ourself with the know-how and emotional fortitude to deal with debt, rising costs of living, negotiating a raise or starting a business.
And this knowledge breeds confidence. “People who feel financially confident generally demonstrate higher levels of emotional wellness”. “A feeling of financial security enables an employee or entrepreneur to focus more fully on occupational wellness.” When you’re not panicking about bills, you can focus on chasing your goals and/or purpose in life.
How to improve your own financial situation
One essential step toward money confidence is actively talking about your finances.
Commit to small ways to improve your current financial situation. It can be as simple as bringing your lunch a few times a week or setting up an automatic transfer each month to your savings account. “Small changes can make a big difference and help build confidence and discipline over time.
Be sure to celebrate milestones along the way. “Success begets more success and the joy that comes with the feeling of financial accomplishment can create a powerful halo in other wellness dimensions of your life.” It’s official: Finances are the new frontier for your wellness routine.