TRU Wealth Advice

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Financial Advice: What does ‘financial wellbeing’ actually mean?

Financial wellbeing is one of the key elements of wellbeing.

It's when we feel happy with what we've got and where we're at financially.

Greed is when we want too much.

We see our neighbors buy their third investment property and we feel we need the same.

Somebody else's superannuation fund, we think is doing much better.

So we jump in.

And we make irrational decisions.

Our emotional connection to the events blinds us, and makes us unable to make rational financial decisions.

On harder days, we feel stressed and worried about our financial affairs.

But the worst of all is our voice in our head that tells us that we're not worth it.

That we can't do it or we shouldn’t be doing it.

Accept them.

Because this is absolutely normal.

We all feel that way.

But we don't stay in the fear mode for a long time.

Sometimes greed creeps in and gets into our hearts.

The share market crashes and we sell our shares.

We worry.

We're fearful.

So when you feel there is a pattern in your life that you are continuing to make wrong financial decisions, or you just cannot sleep at night and you feel consistently anxious and stressed about your financial life, this is when you need to start taking actions.

Recognizing our financial behavior is one of the key elements to getting back in control.

Is financial stress making a negative impact on your life?

Ask for help.