Finance is in divorce are often the thing that keeps us up at night, find out how to gain financial wellbeing and take care of yourself.
What Is Financial Wellness?
In response to the current economic climate it is no surprise that financial wellness has been a hot topic for individuals and institutions. With the reduction of savings rates, inflation concerns, job losses and turbulent market conditions for both property and stock markets around the world the onus is now placed on the individual to try to navigate these uncertain waters. It is never too late to start or amend new habits and money management is a lifelong skill that will enable you the freedom to make sound financial decisions.
To achieve financial wellness in your life it requires you to manage your money, consider your values, set goals for yourself, and live below your means.
Financial wellbeing includes the ability to:
Cashflow is the most important element to a healthy financial life.
The financial industry can be incredibly intimidating and seemingly complex from the outside. Building your knowledge of how the systems work and becoming familiar with the terminology will not only increase your feelings of confidence and control but allow you to engage and take ownership of your decision making processes when it comes to your financial wellness.
Complex decision-making around credit cards, mortgages, taking out and repaying loans, investment and planning will be less stressful once you can navigate the jargon. Check out our supplementary resources guide to find out more. (attached/download)
We all have our own individual financial story, habits or behaviours that we have inherited from our families, peers and society. By generating self-awareness over the triggers and responses that we hold subconsciously with money we can learn to build healthier habits and control our responses and put systems in place that benefit, not hinder, our progress.
Some questions you might like to ask yourself may include:
Budgets vs Money
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