This is a very short article. because I mostly wanted to show everyone the video content that I occasionally create for The Wise Council House. Click the link below to watch.
There are only a million reasons why financial wellness is important. Financial wellness refers to how effectively an individual manages their financial life. It encompasses adopting better money habits, setting goals, and taking steps to achieve them.
- Drew Pratt, a chartered financial analyst (CFA), describes it as the ability to lead a successful financial life1.
- Just as psychologists recognize a hierarchy of needs, there’s also a hierarchy of financial needs. From budgeting to retirement planning, financial wellness involves understanding your requirements and making informed decisions1
There are 4 pillars of Financial Wellness, and these are presented in many formats, however, here are some general ideas…
The Four Elements of Financial Wellness:
Managing Short-Term Finances:
- Create a budget and stick to it. Understand your household income and live within your means.
- Seeking guidance from a financial professional can help you get your short-term finances on track.
Managing Long-Term Finances:
- Ensure you save and invest for long-term goals. This includes buying a home and building a retirement nest egg.
- Improving your financial wellness today sets you on the path toward achieving these significant milestones.
Present Financial Freedom:
- Attaining financial wellness provides a sense of security. It means you’re less likely to worry about sudden emergencies, job loss, or career changes impacting your finances.
- It translates to reduced stress, more time with loved ones, and greater purpose in your career2.
Future Financial Freedom:
- Planning for the long term ensures you’re prepared for retirement and other life stages.
- Financial wellness contributes to overall life satisfaction and security, allowing you to focus on what truly matters3
A video that I created recently on this topic.
I created a short video pod, and it’s posted on my Facebook, YouTube, and TikTok, so far it has roughly 250 views, not too bad for a slapped together Canva video, and yes, that is me speaking in the video. My video creating skills need work, I quite aware of that, there might come a day when you see my lovely visage on video, but until I get over the heebies about my face being visible for the world to see, it’s going to be voice casting for the moment. There are advertisement descriptions of my business offerings in the video, just to make readers aware of that. I hope everyone enjoys it, if anything for the informational content presented…
The Wise Council House Financial Wellness Pod Ep 2 (youtube.com)
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