financial wellbeing

Financial wellbeing refers to the state of having a healthy relationship with money that allows individuals to manage their finances effectively and meet their needs and goals. This includes having sufficient income to cover essential expenses, savings for emergencies and future plans, and the ability to make informed financial decisions without stress. It also encompasses feeling secure in one’s financial situation, understanding how to budget, and planning for retirement. Overall, financial wellbeing contributes to peace of mind and enhances overall quality of life by reducing financial stress and promoting stability.