Current Financial Wellness2020-03-16T15:20:04+08:00

Current Financial Wellbeing

The Top 3 people want the most in life are: HAPPINESS, MONEY, and FREEDOM!     

yet, most people find it hard to attain these 3…

UYW is here to empower you to be the authentic you, do what you love that brings you joy and live the abundant life you desire; and that’s why we designed UYW Financial Wellness Quiz to guide you what your strengths and challenges are, and how you can efficiently achieve your Financial Happiness!    

Let’s start to understand the basic truth!
Your current financial situation is the accumulative behaviors you have had in the past! And in order for you to achieve your financial goals effective, it is important to understand what your current behaviors & actions, beliefs & thoughts, and emotions are!

Neuro-science studies have shown that 90% of our decision-making occurs in the subconscious mind, and our emotions play a very big role in driving our habits and behaviours towards money!
Even if we have the best intentions, sometimes we don’t always get the results that we desire!

A healthy relationship with money comprises of the alignment of 3 things:

  • What we think (our beliefs about money)
  • How we feel (our emotions about money)
  • What we do (our actions with money)

Let’s take the example of a budget. Most of us have tried to budget before (we’ve taken positive action). But underneath those positive steps were negative thoughts and feelings (I can’t do this, or budgets are restrictive, I feel deprived)…. Sound familiar?

When we don’t explore the thoughts and feelings, or align them with the positive action we are taking, we won’t get the results we are seeking! A Positive + Negative + Negative = Negative! 

Let’s discover how each element of your financial wellness is and what you can work on to achieve your financial happiness! 

Thoughts

Money Mindset

Your money mindset is a unique set of core beliefs about money and how it works in the world. Put simply, it is your attitude to money.

Your money mindset drives how you make financial decisions every day,  and it can have a big impact on your ability to achieve your goals. It guides not only what you do with your money, but who you associate with, the advice you listen to and your overall financial direction. With a healthy money mindset, you make better choices with your money and are more easily able to overcome your financial challenges.

Thoughts

Subconscious Relationship with Money

90% of our decision making is driven by our subconscious mind. Included in your subconscious mind are inherited patterns of thoughts, ideas and images that have been passed down through the collective unconscious and also your innate money types.

Emotions

Financial Anxiety

Financial anxiety has been described by psychologists as “an uneasy and unhealthy attitude toward engaging with, and administering […] personal finances in an effective way.”

https://core.ac.uk/download/pdf/2734204.pdf

The difference between financial anxiety and everyday money worry is the way it interferes with your ability to live your life.

Actions

Power to Execute

This is your ability to take action and complete the tasks required to achieve your goals.

Often times we find ourselves in the position that even though we have the desire to make a change for our current circumstances, we find ourselves being lack of power to execute the plan because there are always other things to do or lack of time, or simply ‘it’s not on our priority’.

Overall

Financial Wellness

In 2015, the US Consumer Financial Protection Bureau (CFPB) defined financial well-being as a state of being wherein you:

  • Have control over day-to-day, month-to-month finances;
  • Have the capacity to absorb a financial shock;
  • Are on track to meet your financial goals; and
  • Have the financial freedom to make the choices that allow you to enjoy life.

Because individuals have different personal values, financial wellness looks different for everybody.

Now that you know the definition and the condition of each area in your current financial wellness, why not having a chat with our trained UYW Financial Wellness Consultant to guide you what to do?

In this 30 mins complimentary consultation, our trained UYW Financial Wellness Consultant will share with you:

  1. How to prioritise your action plan
  2. Tips and tools to help you transform your overall financial wellness
  3. How your unconscious money personalities impact on your financial decision making

We are here to help you achieve your financial happiness, so let’s book the time to have a chat now!