What Is Financial Wellness?

January 5, 2018

 

Financial Wellness is the relationship a person has with money, understanding and knowing how to make informed decisions which include savings and investments, setting goals that are realistic, and having the tools to manage resources and not live above your means.  However, everyone has unique needs and values that determine their financial requirement; kids, spouse, caretaker, jobs, health and more.  It’s important to know, how you feel often dictates how you handle your money.

 

Financial education is important to provide you with the understanding of how to have financial wellness.   Many of us understand some of the basic needs in life to maintain and pay bills but lack the knowledge of how to gain financial wellness.  Financial wellness enhances your life, reduce the stress, and helps you to make wiser decisions. 

 

Years ago, I remember my grandmother used to say, never forget to pay yourself!  It may not always be much but to develop a habit of paying yourself five dollars or more a pay period is a must.  It teaches discipline in saving; considerate it layaway for a family trip, car, or house that you wanted to buy. 

Victims of domestic violence are often financially abused as well and most stay because they are at fear of losing their financial stability.  If you are in a financially abusive relationship contact us at Tabula Rasa Domestic Violence, Inc at 240-720-7868 or send an email to info@TabulaRasaDV.org for assistance. 

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