What is Financial Wellness and how to achieve it?

Wellness seems to be a bit of a trend at the moment. But what does it mean?

It can be defined as the pursuit of an optimal state of physical, mental, and social health and wellbeing. If you have healthy habits and routines, it can prevent serious illness and disease.

Financial wellness is one of the dimensions of wellness (physical, mental, spiritual, social etc) and can be defined as having a healthy and stable financial life, by:

  • Having the financial resources to meet your needs and achieve your goals;
  • Being able to manage your financial risks and uncertainties.

It includes various aspects of personal finance such as earning, spending, investing and protecting your assets. And having a balanced approach to managing your money and avoiding financial stress and anxiety.

A social research report by Beyond Blue states that “there is substantial evidence that financial well-being and mental health are connected.”

Financial wellness is not just about having a high income or a large amount of wealth, but rather about having a healthy relationship with money and making informed decisions that align with your values and priorities. It also includes having financial knowledge and skills that allow you to make smart financial choices and adapt to changes in your circumstances.

Money coaching can help you take control of your finances and gain knowledge to enable you to take action towards your goals.

Contact me now for a free discovery call and I can show you how money coaching will help you achieve Financial Wellness.

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