What is financial wellness?

Making the most of your income to enjoy a reasonable quality of life and having the skills and capabilities to manage money well, both on a daily basis and for the future.

Finding a balance

Financial wellness is a concept that many of us strive towards without even realising it. Paying off debts, cutting back on unnecessary spending, attempting to save, or even just planning ahead of time are all examples of financial wellness. You don't need a huge income to regain control of your finances, you just need to make a few, simple changes.

of people say:
it's about earning enough to be able to enjoy a reasonable lifestyle

of people say:
being able to save for the future

of people say:
being able to pay off existing debt such as credit card

of people say:
it's about understanding money, so I know the best way to borrow, save and spend

Source: CIPD 2017

How you can achieve it

01 - Budget like a ninja!

Creating a budget is an excellent way to control your spending. How?

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02 - Claim what you're entitled to

Find out if you are entitled to benefits, or could be claiming more, using our free benefits calculator - plus other ways to increase your income.

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03 - Review your spending

Could you be overpaying for utilities such as gas and electricity? Are you paying for TV subscriptions that you don’t need? Find out if you could save some money.

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04 - Make a plan

Setting goals and planning your finances ahead of time could help you reach financial wellness.

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05 - Build your credit score

A good credit history could increase your chances or being approved for lower cost credit when you need it.

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06 - Focus your savings on something special

Saving money is one thing but organising it into specific pots could help you maximise your financial wellness.

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07 - Save little and often

When money's tight saving money can be hard, but it's not impossible.

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08 - Borrow responsibly

Of course, we all need to borrow money from time to time. Read how to minimise the cost of your borrowing and stay on top of your repayments.

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09 - Protect what matters

From the basics such as home contents insurance to protection that will support your dependants if the worst happens, it makes sense to plan ahead.

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Other helpful money-saving tips

Save money on your weekly food bill

by planning ahead and shopping savvy. To see how you could feed a family of four for less than £60 a week, read our extensive 14 Day Food Plan and check out our budget shopping list and recipes.

Keeping a record of your spending habits

could help you identify where your money is going. Whilst a takeaway coffee may not seem expensive at the time, little costs can add up and keeping track of these small purchases could help you save more in the long run. You could even download a budgeting app to make simpler.

Remember, you aren't alone.

According to the financial regulator, the FCA, around 12 million people in the UK have got money worries, a figure that is set to rise over the coming months. So you're not alone in your struggle to achieving financial wellness and its certainly not something to be ashamed of! In our experience the hardest part is taking the first step - asking for help. But you won't regret doing so.

How can Financial Wellness Group help you?

We're committed to helping you achieve financial wellness, by providing personalised and tailored support to help you take the simple steps needed to improve your money management skills and knowledge. From budgeting help, to money-saving tips and solutions that could make your borrowing more manageable, we offer free help and support to help you take control of your financial situation, and achieve your financial goals.

Got a question? Get in touch and we'll be happy to help

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