Financial Wellbeing
Financial wellbeing plays a significant role in our health and happiness. It impacts our mental health, work productivity, engagement, and overall wellbeing. When our financial wellbeing is affected by events, like the recent pandemic or the upcoming holiday season, we can experience high levels of stress. Prolonged exposure to stress can erode our health.
Financial Wellbeing Tips
Here are some useful tips to implement in your daily life to help with your financial wellbeing.
- Establish financial goals: Setting goals will help you refrain from spending money on unnecessary items.
- Set up a budget: Budgets will provide guidelines and help you better understand where you are spending money.
- Shop with a list: Helps provide guidance and limits impulsive purchasing.
- Understand your personal triggers: What are the emotional triggers that are causing you to spend money? Think about adopting alternative coping mechanisms that will take you away from the trigger.
Resources to assist you with your financial wellbeing
- TELUS EAP Program. Receive consultations from financial experts who can advise on the following financial matters: Credit/debt management, budgeting, bankruptcy, financial aspects of separation/divorce, insurance, income tax planning, and retirement planning.
- pdf 7-Step Budgeting Workbook (870 KB) : There are various kinds of budgeting worksheets for financial planning. Here is an example of one to consider.
- Money and finances - Canada.ca. Check out these great resources and tools from the Financial Consumer Agency of Canada on managing your money, debt and investments, planning for retirement and protecting yourself from consumer fraud.. Stay tuned for a webinar in November, celebrating Financial Literacy Month.
