The Critical Areas of Life; Financial Wellness.

In our last post, we discussed “The Critical Areas of Life”, and how important they are in achieving the work-life vision. One of the critical areas includes our finance which we will be discussing exclusively this week.

First, let’s establish what Finance is; Finance can be defined as the management of money, and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting.

On the other hand, Wellness is the act of practicing healthy habits daily to attain better physical and mental health outcomes, so that instead of just surviving, you’re thriving.

When combined, Financial Wellness is taking a step towards having healthy finance.

It’s impossible for you to be financially educated and not have a healthy financial life. Financial intelligence differs from financial wellness, likewise financial literacy.

To attain financial freedom, you have to gain the basic knowledge (Financial Intelligence), then use that knowledge and skills to manage your finances (Financial Literacy), the ability of your finance cutting through every aspect of your life and being financially ready for emergencies is (Financial Wellness).

To attain such a level of financial wellness, you must possess some traits of self-discipline, which could be seen in your level of saving, budgeting, and investing.

Edmund Burke says “If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.”

A positive mindset helps you in many aspects of your life, including work,
relationships and health, but it also can help you along your path to financial security and well-being.

Here are our tips on how to cultivate a good financial habit;

❖ SPEND LESS THAN YOU EARN.

❖ SAVE FOR FUTURE SPENDING.

❖ ONLY BORROW WHAT YOU CAN AFFORD.

❖ GROW YOUR MONEY.

❖ BOOST YOUR EARNING CAPACITY.

❖ PROTECT WHAT YOU HAVE.

It’s no joke that a lot of people out there find it hard to control their expenses despite when their income is nothing to write about, while the majority have adequate income but not the slightest clue on what to do with it.

Putting your money into an investment could serve as a means of getting additional income alongside your salary. A decision you would never regret taking.

We understand that you might have some insecurities about WHAT to invest in, HOW to invest, WHEN to invest, and WHICH investment platform to use, our webinar on “PROTECTING YOUR FINANCES AGAINST A RECESSION IN AN ECONOMY”, talked extensively on how to effectively manage our finances.

You can place an order from our website to get the recording of the webinar.

As the year comes to an end, take deliberate steps in building strong walls around your finance.

FOOD FOR THOUGHT
“Intelligence solves problems and produces money. Money without financial intelligence is money soon gone.” – Robert Kiyosaki

Have a Financially-Healthy Week.