What Is Financial Wellness? Financial Wellness is the satisfaction of your current and future financial situations. It’s not about how much you make that makes you financially well, but rather are you satisfied with how much you make? Planning is the key to attaining financial wellness. It’s important to plan a budget, set goals, plan a saving’s strategy, and plan for retirement. Once the planning is complete it’s time to stick to your plans and put them into action. A saving’s plan will create financial margins in your life for those unexpected college, car, apartment, house repairs or whatever else might come up that will cost you money.
Did you know…
- High levels of financial stress can result in emotional and physical symptoms that may damage your health. Although it is not always possible to change one’s financial situation drastically, planning ahead can help increase financial wellness and decrease stress!
- Budgeting is associated with financial stability and increases peace of mind!
Check out these awesome ways to foster financial wellness:
- Make smarter choices with your money. Eat out less and cook at home more often to save.
- Create your résumé and keep it updated so you can promptly submit it when you see an opportunity.
- Securing a job. Explore sites like Careerbuilder.com or Monster.com, and consider establishing a profile on LinkedIn.
- Ask the bank about the types of accounts available— such as checking and savings accounts. Find out if the bank offers tools you can use to keep track of your money.
What the students had to say: To gather opinions and information for this article, we collected responses regarding financial wellness from local high school seniors. Out of the 8 surveyed students, 4 had jobs and 4 didn’t. However, many of the students say that financial wellness is a must for them in order to achieve a comfortable life, and expressed plans to achieve this wellness. Of the students working, most are not currently in a field they are passionate about but hope to switch in the future. Dream careers ranged from professional athlete to teacher for young children!
Contributors: Health & Wellness 2nd PD
Resources: https://www.retireguide.com/retirement-planning/financial-wellness/https://www.corporatewellnessmagazine.com/article/what-is-financial-wellness