Improving Your Financial Wellness
The phrase “financial wellness” sounds a bit cliché, but it's an extremely important concept that can affect both your mental and physical health. Financial wellness refers to your ability to live without financial stress and be in complete control of your money. This ultimately means your debts are manageable, you have ample emergency savings, and you have a financial plan for the future.
Being financially “well” is typically not something that comes easy or by chance. It requires action, dedication, and minor adjustments over time in order to modify your habits for the better. It involves efficiently managing your money so you can pay your bills, save for the future, and enjoy life to the fullest. Attaining a healthy financial lifestyle requires you to work on four areas: budgeting, debt management, emergency savings, and retirement planning.