Wellness and the B-Word: Where to begin your financial wellness journey.
Wellness seems to be an all-encompassing buzz word (buzz is not the B-word I’ll be referencing later). We often think about our body, mind, and spirit and how they are interconnected. There is a fairly new wellness term that has been trending recently – financial wellness. Did you know, according to Everyday Health’s United States of Stress survey, finances are the most common source of stress among men and women? Pretty powerful.
What is financial wellness?
The federal Consumer Financial Protection Bureau (CFPB) defines financial well-being as a state of being wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future and is able to make choices that allow them to enjoy life.
Simply put, it describes the healthy way you manage money, enabling you to enjoy financial freedom and security.
How does the B-word relate to wellness?
One of the most effective steps we can recommend taking on the path towards financial wellness is to create a B-word. Ugh, it’s tough to say out loud, but let me help you. Budget. There we said it. I think it is safe to say that there are not many of us who jump at the chance to create a budget, or even know where to begin. Here are a few steps:
These 3 steps are just the beginning blocks of budgeting, and the reward – financial wellness – is great!
Sources:
https://files.consumerfinance.gov/f/documents/201709_cfpb_financial-well-being-in-America.pdf
https://www.everydayhealth.com/wellness/united-states-of-stress/what-financial-wellness/
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