Traditionally, when we think of wellbeing we might have thought of mental health, yoga sessions, perhaps even meditation. The definition of wellbeing might have extended to our physical health, after all, yoga is physical right?
Something that might not have been thought of, is what we call our financial wellbeing.
In the UK, we have had a stiff-upper lip culture where we are taught to keep our emotions to ourselves, to accept the way things are and certainly, not to discuss our troubles. Regarding money, it is seen as rude to ask someone about it, it is prideful to discuss a positive financial situation and uncomfortable to discuss a negative one. How many times have you heard the phrase “it’s only money”? Luckily for us, this is changing.
The fact is that money is highly emotive. We feel certain ways about our own finances that can be largely out of our control, and it can drastically affect the areas of wellbeing that we have traditionally recognised. For this reason, it is virtually impossible to not recognise financial wellness as a pillar of wellbeing in its own right.
At WorkLife, we understand the importance of providing for not just the traditional notions of wellbeing, but what is relevant and recognised now. Our financial wellbeing partners, OpenMoney, work with our WorkLife members, not only for the ultimate goal of investing, but in a holistic capacity too. They recognise that contrary to what has been previously thought, money and emotions go hand in hand.
Anyone can suffer from poor financial wellbeing. It is indiscriminate, regardless of who you are or what you earn. It is important to recognise this and take note of how certain financial situations can make you feel. If you’re looking for a healthy route to investing, OpenMoney would be happy to speak to you. Visit the app store to download OpenMoney’s app for digital financial advice, a budgeting tool and much more.