When you see the words “financial”, and “wellbeing” being brought together the natural assumption is that the phrase “financial wellbeing” is used strictly in relation to a person’s finances and how healthy they are. This is exactly what a finance manager is paid to do which is assess a person’s financial well-being and through effective financial planning and management, improve it.
However, we would like you to consider the word “well-being” in a different context and that is a person’s well-being as it applies to their physical and mental health. Take this a stage further and consider how their financial well-being could affect an individual’s personal well-being. The fact is it can do so, and there is no lack of medical evidence to prove it.
Financial problems causing health issues are a scenario that is flagged up time and again in medical journals, medical bulletins, and from first-hand recounting from doctors and patients. Countless visits to doctors, psychologists, therapists and even psychiatrists have arisen from a person suffering mental and physical health problems as a result of the pressure placed upon them due to concerns over money and their finances.