FERNWOOD FITNESS - PULSE eMagazine - Issue#7 - Flipbook - Page 55
Mirror, mirror
How you perceive your
financial situation can vary
quite differently from how
someone else sees it. Our
perceptions are shaped by
several factors ranging from
our resilience, to how our
income or super compares
with peers, and whether we’re
interested in finance or
understand it.
Having insight into your
financial perceptions is a
useful starting point for
improving your financial
wellbeing.
How is your financial
wellbeing?
Start at the
beginning
Financial wellbeing is a crucial
aspect of overall wellbeing, as
financial stability and security
can greatly impact various
dimensions of your life. Over
half of Australia’s workers are
worried about their personal
finances and 1 in 3 say their
financial situation is a major
cause of stress.
To make the most of what
income you have to cover
essential expenses a budget is
essential. Once you know
where your hard-earned
money is coming from and
going to, you can create a plan.
This can involve cutting out
nice-to-haves like three
streaming services or cutting
up a credit card. And because
3 in 4 Australian households
have debt, we’d be remiss if
we didn't address the
difference between good and
bad debt and provide some
strategies:
Improved financial wellbeing
starts with putting a plan in
place. We know this because 2
out of 3 Australian workers
who have a financial plan have
told us they aren’t worried
about their personal finances.