FINANCIAL PLANNING CAN MAKE YOU HAPPY AND HEALTHY

Hopefully that headline has grabbed your attention! We’re all more familiar with negative stories about financial planning though it can’t be denied that quality financial planning can have a positive impact on both health and wellbeing.

Numerous reports have found a link between stress levels and your health and wellbeing.

The top five causes of stress in Australia according to psychology.org.au over the last five years are shown below: Personal finances – 49 per cent; Family issues – 45 per cent; Personal health – 44 per cent; Trying to maintain a healthy lifestyle – 40 per cent; and

Issues with the health of others close to us – 38 per cent. Financial stress can be caused by many things – for example, worrying about not having enough money to achieve your goals, market volatility, debt levels, funding private education, retiring in comfort.

In our recent research some of the key findings were:

73 per cent get stressed about money and managing money is rated as more stressful than moving house.

80 per cent have concerns about their financial security in the future or they feel their finances are out of control.

Those who set financial goals are much more likely to feel their finances are under control.

As many as 43 per cent find it uncomfortable to talk about money.

The findings are clear in that they show finances are a major cause of stress.

The golden triangle of happiness is close and supportive relationships, financial control and a sense of purpose to build a solid foundation to achieving prosperity.

Our financial planning process is all about setting goals that are based on what is truly important to you – your purpose.

It is so much more than being just about the numbers.