As we kick off National Financial Wellness Month, it's the perfect time to focus on the health of your financial portfolio. Financial wellness isn't merely about having a substantial amount of assets or achieving a specific net worth; it's about understanding and managing your finances so that you can live the life you desire. This month, we're dedicating our efforts to exploring what financial wellness means and how you can achieve it through strategic planning and actionable steps.
So… what is financial wellness?
There’s no one-size-fits-all definition. Financial wellness is personal. It depends on your life, your values, and what helps you feel financially secure.
What financial wellness could mean to you:
- Enough in savings that a surprise doesn't become a crisis
- Paying down debt without feeling like you're falling behind
- Feeling confident about retirement contributions
- Getting organized after a major life-changing event
- Building a plan to buy a home
- Just knowing the bills are covered with a little breathing room
Financial wellness isn’t only about numbers, though; it’s also about stress. In PwC’s Employee Financial Wellness Survey, 60% of full-time employees reported being stressed about their finances. That’s a lot of people carrying money stress into everyday life. And with the right priorities and a clear strategy, that stress can start to feel a lot more manageable.
The Importance of Financial Wellness
A recent survey by the American Psychological Association found that 72% of adults reported feeling stressed about money at least some of the time. Financial stress can affect everything from your health to your relationships. By focusing on financial wellness, you can reduce stress and gain peace of mind knowing that you have a solid plan to achieve your financial goals.
Our Mini Checklist: Marline’s 15-minute Financial Wellness Reset
If you have 15 minutes to spare, take some time out of your day and run through this checklist to take the first step towards bettering your own financial wellness:
Define your version of financial wellness
Finish the sentence: “I’ll feel more secure when _____.”
Check your cash flow briefly
Look back at last month: money in vs. money out. Anything that surprises you?
Pick one simple change to make easier
Automate a bill, automate savings, or increase retirement contributions even by the slightest amount.
Choose one goal for the next 90 days
Emergency fund starter amount, debt payoff target, or a no-stress spending plan.
Write down your next step
Not ten steps. Just one. Don’t overcomplicate things and do what feels right for you.
What’s Coming Throughout The Following Month
Throughout January, we’ll be sharing 8 different financial wellness tips—posted every Tuesday and Thursday. You’ll see more long-form blogs like this one you’re reading, and along with that, there will also be some short-form videos on socials. Each tip will be broken down and focus on something practical: cash flow, values-based spending, automation, emergency savings, retirement consistency, and turning goals into a plan.
At the end of the month, we’ll share a quick recap of all of our tips so you can save them all and come back to them anytime.
This series is educational and meant to help you think through your next best step. Your situation is unique, and advice should match your goals, timeline, and bigger picture.
If you’d like a quick check-in and a clear path forward based on your goals, we’d love to help. Please feel free to reach out to our team anytime, and we’ll set up a time to talk through where you are and what financial wellness should look like for you.
Thanks,
Shaun, Andy, Darlene, Jason, and Kieran