How To Take Care Of Your Financial Health

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How To Take Care Of Your Financial Health

Worries about finances came are the number-one stressor across all age groups, causing us to lose sleep and triggering our existential fears. Fortunately, you can take action to step out of this vicious circle.

 

1. Dimensions of Wellness

Wellness is such a broad term and all of its dimensions need our attention for us to truly flourish. The goal is to find a personal harmony with the dimensions that feel most authentic to you. But you can’t get there passively, as this requires you to be aware of your situation and commit to achieving how you desire to feel.

 

Emotional

Many studies confirmed that when it comes to success and a good life, EQ is even more important than IQ. Coping effectively, having a sense of positive self-regard, and creating satisfying relationships all reflect emotional wellness.

 

Mental/ Intellectual

Recognizing ways to expand knowledge and skills through intellectually stimulating activities.

 

 

Financial

Are you satisfied with your current financial situation? Do you have financial goals set for the future?

 

Social

This dimension is about developing a sense of connection, belonging, and a well-developed support system.

 

Professional

This field relates to your job and the personal satisfaction and enrichment you gain from what you do.

 

Physical

A healthy physical dimension requires regular physical activity, healthy foods and quality sleep.

Spiritual

 

Spiritual

Last but not least, this segment is about our sense of purpose and meaning in life.

 

2. How Financial Health Can Affect Your Overall Health

Financial stress is a very unique kind of stress. High levels of it manifest through physical symptoms like sleep loss, anxiety, headaches/migraines, compromised immune systems, digestive issues, high blood pressure, muscle tension, heart arrhythmia and depression. Individuals with high financial stress are twice as likely to report poor health overall and are four times more likely to complain of ailments, according to Forbes. The worse you get, the more costs you’re in as nothing adds up as quickly as medical costs, only pulling you further down the financial hole.

 

Since mental and physical health can directly benefit from healthy finances, every step you take to improve your financial well-being will have multiple benefits.

 

3. How To Improve Your Financial Wellness

Just like your financial health will benefit your other wellbeing areas, you can approach this battle on various fronts.

 

Mind

Just like our muscles, our minds need exercise. Learn money management skills by attending workshops or read a stimulating self-help book. Challenge yourself to only spend on basics for a month.

 

Physical

The better the physical shape you’re in, the less money you’ll need to spend on improving your health and the more money you will be able to earn. Don’t fall in the trap of not having the time for your health because you need to earn a living – better to make some time now as otherwise, you will need to spend a lot more time fixing what you broke. Take the stairs and stretch everyday while making a break every half and hour to just move if you are stuck behind a laptop every day. Make the time to eat well – if you plan your meals ahead, you will also save money by not eating out or just splurging on groceries you don’t need. Sleep is just as important as it gives your body and mind the opportunity to detox and reboot.

 

Emotional

Keep a positive attitude and visualize yourself achieving your financial goals – how does it feel?  Surround yourself with people who have healthy finances and learn from them. Be realistic about your expectations and time as time is money. Learn to cope with stress and negative emotions because we are more likely to overspend when feeling blue.

 

Financial

Learn about budgeting. This process will help you to develop healthy money habits such as saving and help you make sure your credit score is strong by paying your rent or your United Illuminating CT utility bill on time. In simple words, budgeting gives you control over your finances, it helps you build a cushion to absorb a financial shock, it helps you ensure you are on track to achieving your financial goals; and it ends up providing you with financial freedom that helps us enjoy life to the fullest.

 

Takeaway

Financial wellness should be an important part of our everyday lives. The truth is that financial wellness doesn’t happen overnight and everyone’ situation is different. But, every step counts and all that matters is that you take constant steps in the right direction as you work your way towards your unique wellness formula.

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