What is Financial Well Being?

Financial well-being goes beyond dollars. It is harmony between your personal life, career choices, financial stability, security, and freedom. Understanding and achieving financial well-being is essential for a fulfilling life.

Financial stability is the foundation of financial well-being. It’s about managing the puzzle pieces of income, expenses, and debts. This supports every other aspect of your financial well-being.

Security is the financial safety net offering reassurance for uncertain times. It encompasses emergency funds and insurance, shielding against those unexpected curveballs life throws.

Freedom implies having the resources from wealth, that you’ve built over time, that gives choices and possibilities providing the flexibility to live the life you desire.

Tracking your financial well-being means more than just checking account balances. It involves assessing savings, managing debt, and recognizing the peace of mind that comes from understanding financially where you are, where you need to go, and what you need to do to get there.

There is a connection between financial well being and mental, emotional, and physical health. Financial stress can take a significant toll, impacting all of these, and affect your relationships at home and at work. It can even lead to anxiety and depression.

Improving your financial health doesn’t just mean making more money; it involves smart money management and developing a healthy relationship with finances. By having some difficult conversations and being aware of the challenges that might come your way, you can proactively work towards achieving greater financial well-being and securing a more fulfilling future.

Financial well-being is not a destination; it’s a journey—a journey towards a life that allows you to focus on what truly matters.

Linda Grizely is a CERTIFIED FINANCIAL PLANNER™ professional and the owner of Visions Financial Planning, a business designed to nurture strength and resilience and to empower people to visualize and achieve a future that’s secure and filled with promise. She’d love to hear your story and explore the possibilities for collaboration. Please feel welcome to arrange a time to talk for a free 30-minute introductory meeting.