Money is important in all our lives. How much we need and when varies from person to person. The answer lies not just in earning money but in spending, saving and managing your finance well. As complex as the phrases “Financial Planning” or “Financial Wellness” sound, it is to do with simple steps that need to be taken in everyday life.
The first step is to educate yourself on aspects of Financial Wellness. Educating yourself helps you make informed and effective decisions on the money earned.
What is Financial wellness? It is about balancing your personal finances. It is about planning your daily expenses effectively so that you have enough money left for later years. This way, you can continue to live a comfortable life, even after retirement.
Having enough money for later years does not mean that you do not enjoy the present. It only means to use your income smartly to lead a stress-free life, with enough money after retirement from work. All of us must aim to be prepared to meet expenses that might come up even from uncertainties and emergencies in the distant future.
Peace of mind is the biggest benefit of Financial Wellness, the value of which is appreciated only in the latter part of our life cycle.