If so, you're not alone. Many people struggle to make their income cover their living expenses.
Financial wellbeing is about feeling secure and in control of your day-to-day finances. It’s having enough money to pay your bills, with a plan to deal with unexpected costs. It’s about feeling confident making plans for your financial future that are in line with the goals you've set.
Financial wellbeing is one piece in the overall spectrum of wellness. If one of the pieces is jeopardised, you may feel it in other areas. In fact, poor financial wellbeing has knock-on effects on our mental health, physical health, and relationships. On the other hand, people who enjoy good financial wellbeing tend to be happier, more confident, and more productive at work.
Many people find it difficult to talk candidly and openly about money with their family or friends. Money and finances are a common source of stress. Talking about money with a trusted friend or family member could be good for you, and may help you to manage your stress. It’s good for your mental health and your relationships. It will also help you to plan your financial future more effectively.
Getting your finances in shape, or at least having a plan in place, can be a weight off your shoulders.
Forming healthy financial habits takes time and effort. It can take weeks, if not months, for a new habit to form and for a behaviour to become automatic.
Here is a reminder of the main points:
