Financial Wellness Is A Part Of Mental Fitness
According to a Bank of America survey, more than half of companies now offer financial wellness programs, and many large universities have launched financial wellness programs for their students.
Its not just a word of discussion for corporate employees and bankers, but financial wellness is actually an important part of personal self-care and physical health that many people overlook. It not only determines your future finances, but it also improves your life.
There are many variables that make up financial wellness. Depending on the stage of life, one may be thinking about money differently. For example, many are on the verge of retirement, while millennials are still in the mid of their careers. Gen X and Gen Z-ers are just beginning their journey to financial health, but each generation has a different approach towards wealth. Financial wellness is absolutely essential to one's mental fitness.
Achieving financial wellness gives a sense of financial security and independence. This means you don't have to worry about sudden emergencies, job losses or career changes, which can affect your finances in the short run. This can mean less stress, more time with family and loved ones, and a focus on your career, but the gender wage gap is still very prevalent as in some cases, women earn less than men.
Some steps to achieve financial wellbeing are:
