Are you in a good relationship with your money?

Perhaps this is an oddly phrased topic, however, it is important, particularly with all the idealism of a new year, that it is addressed.

Ask 100 people what their biggest worries are, health and money tend to top the list. We all traditionally join a gym, change diets and get moving when we get worried about health, yet we tend to do the opposite with our personal finances!  We ignore, procrastinate, fear and dream about money. Having a good salary does not necessarily mean you are in a state of “financial wellness” either. It is your relationship with money, not the income itself, which makes the differences that will improve your life.

Having a better relationship with your money is financial wellness. Wellness is a new term that is being applied to mental, health & dietary improvements. If you wish to add financial wellbeing to your checklist, here is some low hanging fruit for you to tackle:

  • When was the last time we sat down with someone or even ourselves at the kitchen table to examine what we have? You may be in good shape but don’t know it.
  • What am I doing with the disposable income that I have after my monthly bills?
  • I don’t have a disposable income, even though I feel I should have one?
  • Could my disposable income be put to better use?
  • When we take the foot off the pedal from working 5 days a week, what does that look like money wise? Is the state pension plus my own work pension enough for what we want to do?
  • How reactive and emotional we get when we think about money management

If you get anxiety or the urge to ignore your personal finances when you think about them, this is costing you both financially and mentally. Asking the above simple questions of yourself (you don’t need all the answers straight away) is a good start.

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