Finances have been a cause of concern in human lives for as long as money has existed. It’s the key to unlocking all of our material desires, but it can also be our downfall and a source of frustration when it isn’t managed properly. That is why Financial Wellness Month exists, to serve as a reminder for us to check in on ourselves and prioritize our financial well-being.
As we all know, the term finance usually equates to money. However, finance encompasses not just money but also the creation and management of cash and investments. This means it deals with how you earn money, how you spend that money, and how it impacts the rest of your daily life. Financial wellness has to do with your relationship with money and how secure it is, regardless of the variables that could affect your future.
Some of the area’s individuals commonly need financial support in saving for retirement, paying off student loans and healthcare expenses, and budgeting or spending. While money is something that impacts each of us daily, there are unfortunately not often enough curriculums embedded in our school systems that help support students’ learning about the importance of financial wellness early on.
This is one of the reasons that financial wellness month is so crucial if only to continue to serve as a reminder of how important it is to continue financial wellness education, no matter what stage of life you’re currently in.
We challenge you this Financial Wellness Month to take a moment and consider whether there are habits in your daily life that could benefit from a “financial wellness check”.
Some examples you could apply to help you boost your financial wellness are; creating a stable source of income, budgeting, setting up an emergency fund, saving, evaluating your credit, and setting aside money to clear debts.
Even small steps can significantly impact your financial future and help get you closer to the goals and life you’re working so hard towards.
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