I was recently asked if I thought a person’s financial health contributes to better overall health. The simple answer is very much so, and more than you think.
Here’s an example…You eat the right foods, exercise, and make sure your mind stays as fit as your body. It’s the same thing with your financial health. It’s an ongoing process of managing your financial life to enhance your overall well-being. Financial health means you have the satisfaction and flexibility to live your life in the moment without sacrificing your future financial security.
Much like a yoga practice I strongly believe that the key elements of Financial Health are to:
- Set an intention or goal
- Practice mindful spending that aligns with your goals
- Visualize what a Financially Healthy life looks like
- Provoke thoughtfulness. The goal is knowledge and confidence
- Make time for regular Financial Health assessments
The key is a commitment to financial literacy and financial independence.