Money Talks: The connection between physical, emotional, and financial health
Think about a wobbly 3 legged-stool. Something is wrong with the stability when one leg is shorter than the others.
We firmly believe that to live life well, you need to firm up stability in three key areas: Physical, emotional and financial health. They are deeply interrelated.
Most of us probably have a good sense of what it takes to improve our physical health and of course, there are many approaches to attain it. When we feel physically well, it directly contributes to a sense of emotional well-being.
It’s no different when it comes to our financial health and it’s important to have goals to strive for and to seek expert advice (as you would a personal trainer).
How is your financial fitness? Are you standing strong or are you gasping for air with a big hill to climb?
Research repeatedly indicates that financial health and physical well-being go hand-in-hand. Constant worry, stress and strain about finances take their toll on our physical and emotional well-being.
So what does financial well-being mean? To achieve financial well-being, we must first understand it. Great financial health is less about the bottom line and more about having financial security and freedom to make choices, now and in the future.
Time and time again, we see clients who feel uncomfortable and completely out of control with their income and spending. Or, they may have accumulated some investments, but have no idea how they are performing or if they have enough to live on during retirement.
Sleepless nights, fighting with your partner – all these things stem from insecurities. On the contrary, we see the relaxed, easy state of mind for clients who are clear on their budget/finances and have a solid plan in place for their future.
We certainly help clients financially but the emotional and mental security that also comes as a result of financial stability, is absolutely priceless.
So as you think about the New Year, it’s time to consider the importance of financial health. Like a personal trainer, a helping hand is never far away to get your money matters in shape.