What is financial wellness?

Financial wellness refers to a state where an individual or household enjoys a healthy and balanced financial life. It means having sufficient financial resources to meet one's current and future needs, being able to save and invest for the future, and being able to manage debt and expenses effectively. Financial wellness also involves creating a financial plan that aligns with one's goals and values, while maintaining a mindset of financial security and independence. Achieving Financial wellness requires smart financial management, informed decision-making, and the development of healthy money habits. It's a continuous journey that requires consistent effort and focus, but it can be immensely rewarding in terms of overall well-being and financial stability.

This mind map was published on 16 May 2023 and has been viewed 125 times.