Financial Wellbeing
In this bitesize webinar, we discuss the importance of Financial Wellbeing for 2023.
Transcript
00:02Hello.
00:02So one of the things that we'd
00:04like to discuss is financial wellbeing.
00:06It's one of the hot topics at the moment
00:09just because of the recent times that we're living
00:11in now, especially with costs and money being so,
00:14I suppose, unpredictable at the moment.
00:16The meaning of financial wellbeing is
00:18different for everybody but one person.
00:19One might give you the same answer.
00:21However, some of the main aspects of what financial
00:23wellbeing is for people is about one, feeling secure
00:26and in control of your finances, being able to
00:29manage your money on a day to day basis.
00:31Also having financial security, such as having savings
00:34and or having enough money, basically to be
00:37able to deal with any unexpected situations or
00:39emergencies that could arise at any point.
00:41Really just having that backing, knowing if that were to ever
00:44be the case, that you would be in a position to
00:46be able to financially be able to support yourself.
00:48Those types of instances is the other thing for a
00:51lot of people, which is really important and I think
00:53it should be as well, is just having enough money
00:55really for leisure and social activities after all your bills
00:58have been paid for the month.
00:59People want to be able to have time
01:00to themselves to spend their money and kind
01:02of enjoy themselves after the bills are paid.
01:04The reason financial well being is so important is just because
01:07of the impact that it can have on your life.
01:09There's various ways that that can happen.
01:11One of the main things is the
01:12mental and physical health side of things.
01:14So lack of financial wellbeing, it can increase your anxiety levels,
01:17it can cause a lot of stress to your life as
01:19well, both of which are really important and both of which
01:22is something you want to avoid where possible.
01:24The other thing, the other ways that
01:26financial wellbeing can impact you is work.
01:29We can have a negative impact on productivity which
01:31can of course affect your performance levels at work
01:34and also potentially cause absenteeism as well just because
01:37you're worrying about your money problems sometimes I'll as
01:40a result of that, you feel you cannot come
01:41into work because you're not able to concentrate.
01:43And lastly, one of the main things is
01:45all of those are both things stress, anxiety,
01:48impact on your work and your performance.