It is no secret that financial wellness is an integral part of a functional personal financial system. It is also no secret that while there is a wide spread of guidance to financial wellness, many tend to ignore the guidelines and remain stagnant in puddles of financial stress.
It brings to our attention that while information to curb financial stress is available, many individuals pay no mind to it.
Financial wellness is one aspect of well-being that has not been in the limelight. The pandemic has seen a rise in financial stress among individuals and this highlights the need for the aspect. While the meaning of financial wellness differs from generation to generation, one’s attitude towards money determines their individual level of financial wellness. Whatever the attitude, we cannot deny that financial wellness is something everyone deserves.
While there are financial freedom and security benefits associated with financial wellness on a personal scale, there is a larger scale benefit for more complex societal aspects. There are also evident mental health benefits. In view of a society that performs better on an economic stage, unlocking the door to financial wellness will result in a more active, interested and involved society that is bound to grow the country’s economy at large.
Financial worries not only keep you up at night, but this spills into your productivity for income generation and it tickles down further to the people you spend time with. The end goal of financial wellness is spending money and being aware of how to spend it so that you are healthy, secure, and happy. The receipt of financial education is imperative in the understanding and application of the financial wellness concept.
If the mere indulgence into the information proves futile to reaching a financial wellness point, perhaps there can be more applicable methods that will result in healthier financial positions. However, if it is neither considered important nor made a priority, the stress will remain consistent.
*Justine Domingues an eligible CA(NAM) with a drive to make financial education widely available. She is the founder of Financial Zula, a Youtube channel that focuses on making financial education available. For more information, please check-out “Financial Zula” on Youtube.
