Embrace Financial Wellness This Fall
Embrace Financial Wellness This Fall
Prioritizing Financial Wellness: A Path to Mental, Physical, and Financial Well-being

Financial wellness is often overlooked as part of overall health and well-being, even though studies show that financial stress contributes to declines in mental and physical health. As we approach fall, it’s the perfect time to take a step back and evaluate our financial health and well-being.
Real-world factors such as rising inflation and sky-high interest rates, combined with the general anxiety surrounding economic uncertainty, have led to overwhelming levels of financial stress among Americans. According to workplace financial wellness provider Financial Finesse, the percentage of Americans experiencing unmanageable levels of financial stress increased by 34% in 2022.
Recent surveys have found that nearly half of employees point to financial concerns as the cause of poor mental health, with financial stress negatively impacting sleep, physical health, and relationships at home. It’s no wonder that the percentage of Americans describing their mental and physical health as good or excellent reached an all-time low last year.
But don’t despair! By prioritizing financial wellness, it is possible to reverse the mental, physical, and financial costs of financial stress.
Understanding Financial Wellness
First, let’s define what “financial wellness” means. Financial Finesse, the term’s originator in 1999, defines it as a state of financial well-being where a person maintains:
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- A manageable level of financial stress
- A lifestyle below their means
- An emergency savings fund
- No high-interest debt
- A sufficient insurance and estate plan
- An ongoing plan to reach their future financial goals
While it may sound like a lot, achieving financial wellness is about establishing a solid financial foundation. Here are three important steps to get started:
1. Revise Your Money Script
Your subconscious attitudes, beliefs, and values about money, known as your “money script,” play a significant role in your financial decisions. By examining how your family, culture, and experiences have shaped your ideas about money, you can identify key lessons and reevaluate your relationship with money.
2. Establish Your Financial Identity
There are various financial identities, such as the investor, the giver, the planner, or the bargain hunter. Adopting an identity that aligns with your values reduces the emotional burden of money and helps guide your financial decisions.
3. Tap Into Your “Bright Spots”
Identify what drives your personal success, also known as your “bright spots.” Learn from your greatest achievements and apply those lessons to your financial goals. This will keep you motivated, provide a sense of reward and satisfaction, and propel you further in your journey towards financial wellness.
Immediate Steps to Regain Financial Control
While working on building your financial foundation and fostering financial wellness, there are practical steps you can take right away:
- Set and Stick to a Budget: Creating a budget is the first step towards reducing financial stress. Periodically review and revise it to align with any lifestyle changes.
- Build an Emergency Savings Fund: Aim to have three to six months of living expenses in your emergency fund. If you don’t have extra cash on hand, start slowly and incrementally build up this nest egg.
- Stay Organized: Automate your finances where possible to make it easier to track your investments and assets. Numerous websites and apps can help you stay on top of your financial standing.
- Seek Professional Guidance: Don’t hesitate to ask for help. Seek the advice of a financial professional to guide you in your financial wellness journey. Some employers even include financial coaching as part of their benefits package.
Remember, financial wellness is not a one-time fix, but an ongoing practice. Take a few minutes to assess your financial foundation and identify areas that may need some extra attention. By prioritizing financial wellness, you’ll reap the rewards far beyond this fall.
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