| 
Article
Wellness
and Money Go Hand in Hand:
By
Christine D. Moriarty Financial wellness is an intricate balance
of the mental, spiritual and physical aspects of money. This unique
combination is an ideal to strive towards in our dealings with money.
Financial wellness is having an understanding of your financial situation
and taking care of it in such a way that you are prepared for financial
changes. Maintaining that balance consists of being comfortable with
where your money comes from and where it is going. Take the quiz below
to see how close you are to achieving financial health.
Financial Wellness Check-up
1. Do you have cash in your pocket?
Yes Kind of No You must be kidding
2. Do you balance your checkbook regularly?
Yes Kind of No You must be kidding
3. Do you know the total amount of debt that you have?
Yes Kind of No You must be kidding
4. Do you feel like there is plenty of time in the
day?
Yes Kind of No You must be kidding
5. Do you have a retirement account?
Yes Kind of No You must be kidding
6. Do you know how much is in your retirement account?
Yes Kind of No You must be kidding
7. Do you know where your retirement monies are invested?
Yes Kind of No You must be kidding
8. Are you happy with your job?
Yes Kind of No You must be kidding
9. Do you know what your net worth is?
Yes Kind of No You must be kidding
10. Do you know what net worth means?
Yes Kind of No You must be kidding
Scoring: For every answer score the following
points:
Yes: 1
Kind of: 2
No: 3
You must be kidding: 4
Total Score:__________ |
Financial
Wellness Check-in Results
How
did you score?
10-15 - Looking Good
You have a handle on your financial picture. You are on the scales with
a fairly steady balance. Sure you sometimes go off and lose your balance
but it is not a long road back to normal. Stay the course. And congratulate
yourself!
16-22 In Need of Education
Okay, you have an overview of what is going on in your life. Your financial
wellness picture is a bit hazy. But with some education and a bit of
persistence you can change the picture and steady the balance. Certainly
you still have some things to learn about money, so start learning the
additional finer details and then apply them to your financial life.
23-28 Mismanaged
Your time and effort are misguided when it comes to finances, that is
if you are putting anytime and effort in at all. You are heading for
a disaster of the most explosive kind. Start now putting in the extra
time and effort to improve things. An ounce of prevention is worth half
the cure.
29-34 Messed Up
Get help immediately! You can not do it on your own. Just think of all
that fear and dread that provokes stress around money, that someday
could be gone, if you act now! Find your financial balance by establishing
a wellness plan by making a concentrated and dedicated effort. It is
the way to stability (and sanity!)
35-40 Denial is Bliss
Have a nice day. (If you ever are ready to look at your finances - go
slowly, it may be overwhelming to deal with reality.)
Financial
Wellness Check-in Action Steps
What
do you do with the score?
Read below and find the action steps that match your score. Take action
on the financial steps that are not currently doing. Give yourself some
time to learn along the way. Then, move up the scale of action steps
until you have reached Looking Good. Your finances will be good shape
and so will you!
10-16 Looking Good
Yes, you are in good shape. Still, there is always more to learn. It
is time to get some objective advice. So investigate the financial professionals
in your area. Look for an advisor who is a Certified Financial Planner.
This means they are licensed and educated to review your whole financial
picture and help you meet your goals. An annual check-in will help you
reach peak performance and keep you operating that way.
16-23 In Need of Education
How to get a financial education without going back to school? Look
to financial magazines to begin your education. Pick up a book or two
to guide you in your understanding of financial matters. There are many
out there on the shelves. Pick up one that appeals to you. Then, attend
a financial workshop or two. Local business groups or continuing education
centers offer them at convenient times and at little or no expense.
Be sure to attend and learn, not buy anything. As you are in the learning
phase, you need to gather information before taking action.
23-29 Mismanaged
How do you start now putting in the extra time and effort in to your
finances? First, set aside time to review what income you have, and
how you spend it. This may involve pulling together financial records
or starting from scratch tracking the information. Next, pull out your
bank statements, credit card statements and retirement and investment
accounts. On one sheet of paper, summarize how much you have and where
it is. Finally, do this all on an semi-annual basis.
29-34 Messed Up
Where to get the help you need? First, you may ask friends how they
do it – if you are comfortable talking to them about money. Second,
consider talking to a therapist or other professional about why it is
you have resistance to facing up to money and its place in your life.
Then, continue moving up the scale above until you have a better understanding
of your money.
35-40 Denial is Bliss
If you are willing to put in some work, there is hope for you. First,
Pray. I am not kidding. This is a big task and to make it happen, you
need the Big Guns. Second, think about your money and how it got that
way. Just in an objective sense, no beating yourself up or creating
a crisis of past wrongs. I want you to write it down and acknowledge
it. Next, spend twenty minutes a day with your finances. Start with
simple tasks – cleaning your wallet and counting the money there.
Collecting the loose change scattered in your house, car, and pockets
and putting it in one place. When you are comfortable with these tasks,
move slowly up the scale.
|
