Beyond the Numbers
“Financial wellness is a holistic approach to the decisions, behaviours and goals that comprise our financial lives,” says Amanda Clayman
, a financial therapist with over 16 years of experience and founder of the Financial Wellness Program for US-based charity, The Actors Fund.
It’s more than having financial knowledge. We all know having a budget is important, but just like how we sometimes fail to follow a healthy routine, our psychological needs, when not addressed properly, can lead to poor financial choices. “When I was younger, money made me anxious,” she shares. “So I didn’t like to look at my checking account before making a purchase. Eventually my finances became unmanageable, I felt even more anxious and ashamed. I realised those struggles came from emotional reasons.”
In a way, money can show us where we need to heal and grow because it’s so integrated in our lives. “Understanding financial wellness allows you to develop a meaningful relationship with money,” she says. So, how can we turn money into a tool for empowerment? Here are three tips from Clayman.