People thriving in Financial wellbeing are taking action to manage their economic life which reduces financial stress and increases their sense of security.
Stress is not the only problem related to poor financial wellbeing. Research show that struggling financially can literally result in physical pain, and over time result in hopelessness and depression.
Whether it is being able to afford food or essential medications, having enough money can often feel like a life or death situation.
What does Financial Wellbeing look like?
People who have financial wellbeing, forgo short-term impulse purchases, live within their means, and benefit from the reduced stress of reducing and eliminating debt. In addition, once they have paid for their bills and essentials, they do three things: they save a portion of their money, spend on experiences vs things, and give, in some small way a portion of their money to causes important to them. As a result, they improve their own wellbeing, and the quality of the lives of others.
What can you do?
Financial decisions are emotional decisions. If we want to change our relationship with money we need to change the way we respond in emotional situations. Companies spend billions of dollars each year to encourage us to make emotional decisions. But we can learn to make more informed decisions, manage money more effectively and regain control of our financial future. Do you need help:
- Building a healthier relationship with money?
- Developing mental strategies to help you make better decisions and control of your spending?
- Avoiding going further into debt, and becoming debt free?
- Getting up the courage to talk to your bank? Finding an accountant or a bookkeeper who can help with organizing your finances and saving money at tax time?
- Connecting with trustworthy financial professionals?
If your finances or your relationship with money has you feeling down or out of control we can help. Speak to us about resources that might be of help to you.