Considering A Journey To Financial Wellness

Financial Wellness is defined as “a physical, psychological, and spiritual well-being that is generally rooted on a stable and secure financial capacity”.

Financial wellness is based on living within your means. Spending money carefully and wisely will greatly enhance your financial health.

If you are considering a journey to financial wellness, here are some thoughts to consider:

1.This is your journey. It doesn't work to follow the path to financial wellness because a spouse, parent, friend, or financial planner recommends it. If your motivation is a "should" or an "ought," you might as well save yourself a lot of frustration and pain by stopping before the journey starts.

2. Don't attempt to guilt, shame, or manipulate anyone else to come along with you on the journey. We can't find financial wellness for anyone else but ourselves. We certainly can join with others for mutual support and learning along the way, but all those on the path need to be there for themselves regardless of whether others are on the path.

3. Be prepared for the naysayers. Not everyone in your life is going to support your quest for financial wellness. Many will try to convince to stop before you start or to turn back once you've begun. Often, the closer a person is to you and the more dependent they are on your financial choices, the more threatening your journey may be to them and the more they will resist you changing.

4. Lower your expectations of how quickly your attitudes and behaviors around money and finances will change. Chances are it has taken you a lifetime to get to where you are with your relationship with money. Unlike the journey that Ebenezer Scrooge took to financial wellness, your relationship won't be miraculously transformed overnight.

5. Open yourself to new awareness and knowledge. Be prepared to let go of your most deeply held "truths" about money. The more stubbornly we cling to strong beliefs about how systems work or people function around money, the more likely that those beliefs are not serving us well.

Remember to be gentle with yourself when you get off the main path and need to retrace your steps. Everyone on the journey to financial wellness takes their share of wrong turns. Mistakes and dead ends are inevitable and are not failures. They are opportunities to learn, to make course corrections, and to continue your journey.

Source: Gary Foreman - former financial advisor