by Michelle Glassburn
Photo by Meredith Tankersley
There is no shortage of information and advice on personal finance today. We are inundated with information in print, on the web and through an endless stream of financial experts. In the end though, most of us are searching for the same thing … financial “wellness.” It’s less about being rich and more about having enough.
Chances are you know if you are in a state of financial wellness. Does money create stress in your life? Do you feel like you never have enough money – for today or for tomorrow? Do you lack savings? Answer yes and you have room for improvement.
When it comes to financial wellness, words come to mind like balance, control and stability. The site netwellness.org has a good definition for financial wellness: “Working towards balance in how we think and feel about money, having an understanding of our finances, caring for finances so that we can handle financial changes and being comfortable with where money comes from and where it’s going.” In effect, financial wellness comes at the intersection of knowledge and action.
Knowledge
Start with real information about your situation. No sugar-coating. How much do you really bring home each month? What are your real expenses each month? Which expenses can you live without? How much do you need to save to be reasonably comfortable in retirement? Honesty is just as important as accuracy in this conversation.
Action
Once you know where you stand financially, you need to take action and make good financial decisions. There are great resources for help in getting an accurate picture of your financial situation and making smart decisions that will lead to your own financial wellness. Check out makingchangecenter.org based in Howard County. They have coaches willing to work with you to achieve your goals. They will share the information you need to make good decisions and help you stay accountable for your actions.
Financial wellness is achievable for almost everyone. Gather the information you need about your situation, learn all you can about personal finance and surround yourself with people who can support you as you take action.
Michelle Glassburn is former president of MakingChange, a Howard County-based nonprofit that offers financial education that empowers people to control their money … and change their lives. For information, visit makingchangecenter.org. Michelle welcomes questions from readers – about savvy spending, saving and investing.
