Financial Wellbeing is not just a reflection of your net worth nor is it just a matter of saving money and building wealth. In order to achieve ultimate financial wellbeing, you also need to consider the emotional component. The part that involves feeling positively about your finances and your ability to own the power to control your destiny and determine your financial future.

Many people are driven by the bottom line. They look at their numbers and usually determine their financial wellbeing based on this one component. However, the state of their bottom line does not necessarily determine whether or not they’re living a meaningful life. Even if someone has financial security and the freedom to make choices, it is ultimately their relationship, attitudes, beliefs and behaviours with money that determines how they actually feel about their finances and consequently, how they live their life.

Money itself cannot make you financially free, only you can make yourself financially free. The power lies within you and it begins with knowing who you are and what is really important to you. It’s knowing what your values are and how you want your life to look and feel like and then going out and actually living your life this way.

In order to attain financial wellbeing and most importantly freedom, freedom that allows you to do the things that give your life meaning, you need to incorporate these 3 Pillars:

Wellbeing

When we take care of our wellbeing on all levels, physically, mentally, emotionally and spiritually, we feel better and become more confident within ourselves. This in turns increases our self-worth and desire to want to take control of our life. It’s when we take some time out of our busy lives to check in with ourselves and sit still that we can become aware of the areas that may need some tender loving care.

Our emotional wellbeing in particular is a major player in achieving financial wellbeing. How we feel and our attitude towards money drives what we do with our money. Our thoughts create our beliefs which in turn create our actions. To create your reality rather than becoming a victim, you need to be aware of where your thoughts are coming from. Are they your thoughts or thoughts of others that you have taken on over the years?

By taking the time to be still we can become aware of where these thoughts are coming from. As you become your own personal detective, you will start to pull back the layers and identify where these thoughts came from and how often you actually think/say these thoughts in your life. It’s when you become aware of what you’re doing, that you then have the power to change your thoughts and stories around money and create a healthy money mindset.

Purpose

In order to create financial wellbeing, you need to know where you want to go. You need to know what your goals are and most importantly know what your core values are. It is your core values – the things that are really important to you personally and give your life meaning that are going to drive you to achieve you goals and in turn, provide you with the financial stability you desire.

When you’re not aware of what your core values are or what you want your life plan to look like, you can find yourself going from pay to pay and even worse, accumulating a lot of debt. You make impulsive purchases and probably find yourself purchasing items that you think you want but don’t actually give your life meaning. You’re reactive more so than proactive and feel sick each time you receive a bill or credit card statement as you’re not sure if you’re going to be have the money to pay them.

Understanding what money really means to you and what you want your money to do for you puts you in a position of control. You get to make conscious decisions with respect to your money and create a life that looks and feels just the way you want it to. It’s generally the part that the majority of people neglect when looking at their finances. As a result, they’re missing the driving force behind what is going to help them attain financial wellbeing.

Profit

The next part of the parcel is knowing what your desired net worth is. By knowing what your life plan looks like you will be able to gauge how much money you need in order to achieve your desired life plan. When your core values have true meaning to you, you’re more likely to have a positive attitude when it comes to earning an income and achieving your desired net worth because you see the bigger picture and have an understanding of what actually gives your life meaning.

Knowing how much money you’ll need to reach your life’s goals will make them real and tangible. It’s then a matter of looking at your situation and working out where you currently stand financially. What are you currently doing with your money? How much are you earning, saving and spending? Many people don’t realise how much they’re spending or what they’re even spending it on! By reviewing your spending habits and comparing them with your core values you’ll be able to quickly work out where you need to stop spending your money.

So much information can be found from looking at your numbers. I know most people don’t love numbers as much as I do and will do almost anything they can to avoid looking at their numbers! Partly because they find them boring but also because they don’t understand them and just thinking of their financial position makes them feel stressed, anxious and overwhelmed. As a result, majority of people tend to go with the ‘head in the sand’ approach when it comes to their finances.

That’s why working on the other two pillars is so important. As once you start to look into those areas and understand why you feel stressed, anxious and overwhelmed when it comes to your finances your whole mindset changes as well as your attitude and behaviour towards money. You start to feel confident, in control and empowered and able to move forward by working out steps, financially and otherwise, that you need to take to reach each goal and ultimately create ultimate financial wellbeing on your terms.

Transform your Emotional and Financial Wellbeing by asking yourself:

• What are your thoughts and beliefs around money? Do you have an old money story that you need to let go and replace with one that makes you excited about your finances? Are you living in a scarcity mindset instead of an abundant one?
• Is your desired financial state in conflict with the way you currently handle your money? Are you wanting freedom and security yet you find yourself going from pay to pay and never feeling in control of your finances? If so, you need to take action and work on your financial behaviours so that they are aligned with core values and life plan.
• What is your current financial position? What are your account balances? Are your financial decisions being driven by your purpose and core values? Or are you mindlessly spending money on things that don’t really matter to you?

Head over to the comments section and let me know:

Which of the 3 Pillars do you need to focus on right now? What’s one action you can take now to so you can start achieving financial wellbeing on your terms?

Can’t wait to read your comments!

Thank you, as always, for reading and allowing met to be part of your world.

Need Help?

If you want to take back control and live the life you want, click the link here to schedule complimentary session where we will map out your Financial Wellbeing Plan so you can start feeling positively about your finances and your ability to own the power to control your destiny and determine your financial future.