Balancing Financial Wellness
What is Financial wellness? How do we define financial wellness? Many would describe it as the absence of debt and the ability to spend freely. Others would define it as being able to meet financial obligations while maintaining a healthy bank balance. However we define financial wellness, the bottom line is the feeling of security and peace of mind that we experience once we achieve financial wellness. When we do not feel financially secure, it has repercussions far beyond just being able to pay our bills.
Money plays a critical role in our lives and the stress caused by not having enough of it takes a toll on us mentally and emotionally. Naturally, this affects us physically (those pillars again….). We cannot escape the existential relationships of mind, body, and money.
How do you become financially well?
How and where do you begin the journey toward financial wellness? Most people believe that to be truly financially wealthy they must make a large salary, or have inherited money. In short, many believe that true wealth is for others. They take themselves out of the wealth-building equation and settle for less without even realizing it.
You can change your financial future.
The 1st step is to simply decide that you want it.
Take baby steps. Your money mindset is the most important part of the journey. When you make a decision to be financially well, you begin to make small decisions that impact your bank balance. Maybe you pack lunch instead of ordering out. Small steps build momentum and confidence.
Step 2 is to build a financial cushion.
When an unexpected expense like a car repair pops up, you won’t be scrambling to find a way to pay it. Most financial disasters occur when there is no cushion. Other commitments go unpaid and the ball starts rolling toward disaster. If you have credit card debt, it is still imperative that you have a financial cushion. If you budget wisely, you can still throw some money toward your debt while saving for that cushion.
Step 3 is to seek the advice of a money coach or financial advisor to set you on the right path.
You don’t need to have a lot of money saved to use the advice of a professional. Many will set you on the right path to meeting your financial goals.
#BodyPillar #PhysicalWellness #BalanceYourPillars
Decide to be financially well and you will begin to see balance and harmony within the pillars of spiritual and physical wellness as well!
ABOUT THE AUTHOR: Lori Brand is one of the founders of Connect The Dots and the developer of the concept of balancing 3 pillars for overall wellness – the mission of Connect The Dots. Lori and coordinates content contributors and collaborators. She is also a money mindset coach (Lori-Brand.com) and a financial advisor with SafeChoice Financial Group – she focuses on helping women meet their financial goals. more about. And is passionate about sharing ways to create balance in life through the spiritual, physical, and financial wellness pillars.