Having financial wellness is establishing a balance in a few areas of your life. Financial stability encompasses your emotional and physical health as well. Being financial "well" means that you have a deep understanding of where your money is coming from, how much you have, and where you are going to distribute it.
So how well are you financially? Take a few moments to ask yourself some of these questions.
1. Do you balance your checkbook and keep tabs on your spending habits? (How often?)
2. How much debt do you currently have in your name or spouses name? ( Are you doing anything about it?)
3. Do you feel it is alright to use your spouses credit score to run up more debt if you have already destroyed your own credit score?
4. Do you have finances set aside for retirement? (What types of long-term investing are you doing)
5. Do you tend to always think your debt will get taken care of eventually? (Why are you not being consistent with it now?)
6. Do you find happiness in your job? (Does your job provide enough financial security for you and your family?)
7. Do you know what your net worth is?
8. Have you been seriously struggling for more than a year financially? ( Why? What is going on in your life that is allowing this to continue?)
9. Do you have an emergency fund set aside? ( How much do you have? )
10. Are you living within your means? ( Do you buy toys, vacations, gadgets, or supplies over and beyond what you really can afford?)
11. Are you being unwise in how you spend your money?
What are the results? Be honest with yourself when reading these questions, the truth is not easy to confront. Many are drowning in debt, families are being destroyed because of financial instability. Getting finances in order is not only wise, but it is the right thing to do for your future and those around you.
Pushing the stack of bills to the side over and over again because you do not have what it takes to pay them off, will only hurt you more in the future. Credit cards tack on late fee's, and interest fees every month...the longer you take to pay your bills on them they will grow. Individuals who refuse to pay on their debt are getting in more debt the longer they wait to do something about it, on a $5000.00 credit card bill that is not being paid on, it will be costing you about 120.00 a month by just letting it sit there. It is astounding!
Get control of your finances. If your not making enough money to pay your bills than you need a new job that is more consistent and that does not put you in more in debt. To be healthier in these areas of your life physically, emotionally, and financially you must take ownership of the things that keep you from moving forward and make some changes.