Financial well-being is a delightful journey to take.
In our minds, we constantly keep asking questions like “am I earning enough?” “am I saving enough?” “will I be ever able to buy a car?” and the scariest of all – “what if I ran out of money during emergencies?”. And, when these questions take a toll on us, managing money seems exhausting and stressful.
And this is what ‘financial well-being’ is purely NOT.
Surprisingly ‘Financial well-being’ has a little to do with wealth and a lot to do with the management of wealth. It is a very personal state – a state of calmness and satisfaction; of safety and security; of happiness and prosperity. Please note that being financially well and financial well-being should not be confused. Both are different scenarios. The CFPB defines well-being as having financial security and financial freedom of choice in the present and the future.
The confidence/feeling of having enough and adequate money as and when needed, fills a person’s heart with joy and dispels all the worries or money-related stress out of the window. The realization that a well-thought financial plan can make a cemented road to walk on to chase your goals is beautiful. It also paves the way for better emotional, physical, and mental health.
Close your eyes and envision that dream car parked in your garage, envision vacationing with your family in London, envision your children doing well and good. Breathe, breathe, breathe.
Do you related with the concept of financial well-being?
To be continued….