Financial Wellness 101
About the Episode
In this episode of Queen Me, we discuss the concept of financial wellness. Ashley shares her personal journey with money, from early education to her current understanding, and emphasizes the importance of financial wellness as a combination of knowledge and a positive relationship with money.
Key Takeaways
Financial wellness is defined as a person's relationship with money, both in the short and long term, and involves understanding and managing finances confidently.
Early financial education is crucial for setting a strong foundation for financial wellness, teaching individuals to live within their means, manage budgets, and make informed decisions.
Financial wellness differs from financial literacy; the former focuses on a positive relationship with money and overall well-being, while the latter is about knowledge of financial matters.
The Smith-Lever Act of 1914 highlighted the importance of financial literacy education, promoting programs to educate the public on personal finance.
Starting a financial wellness journey involves acknowledging your current financial knowledge level and seeking education through reading, courses, or professional advice.
Assessing your financial situation by determining income, expenses, and potential savings is a practical step towards understanding your financial habits and creating a budget.
Taking action in your financial wellness journey includes learning a new financial concept each week to improve overall financial literacy and well-being.
