A Financial Plan can improve your health and wellbeing
We often focus on the money-related benefits of financial planning. Putting together a road map for your finances can improve your money management skills and help you reach your goals like paying off debt or saving for retirement. It makes sense to think about these financial benefits, given that a large part of financial planning is about helping you create the future you want for yourself.
Did you know that having a solid financial plan can also be beneficial to your health?
When you’re in control of your finances, you tend to experience less stress, feel more confident and sleep better.
A report by the Australian Psychological Society reported that money-related worries can negatively affect your health both physically and psychologically.
When we think about ways to manage stress and lower anxiety, we tend to think about exercising, eating healthy, meditating or checking in with a doctor; the physical things we can do to help ourselves. Financial planning is probably not something that comes to mind as readily, but good money management can help squash financial worries and result in several health benefits.
The benefits
These include:
- Reduced anxiety - breaking your financial planning into small, manageable steps can help ease your money-related stress.
- Boost self-confidence and self-esteem - when you’re confident in your ability to manage your money, you’re also in a better position to respond to any financial setbacks head-on.
- Financial planning could improve your relationships - when it comes to love and money, communication is key. It’s important to have honest conversations about your finances and how you’re going to manage your money together.
Strong financial planning can help you take control of your life through better money management and put you on a path towards creating the future you want. Don’t have a plan? WLM is here to help you to secure your financial future.
About WLM Financial
WLM Financial offers a single-team approach to help you across your entire financial life: business and personal, accounting and financial planning. Find out more about our range of Financial Planning Services Or Accounting Services. Or book a meeting for a friendly follow-up to discuss your financial needs.
