5 things you can do to improve on your financial wellness.

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Achieving financial wellbeing should be at the core of every individual who wants to be successful, in their own definition.

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Photo credit: Lay Low

If you can relate to any of the following then this article is highly recommended for you:

  • You have low emergency fund.

  • If you lost your job today, you'd be financially screwed.

  • You are not saving for retirement because you cannot afford to or don't know how to.

  • After monthly expenses you have nothing left.

  • Money is constantly stressing you.

  • You are in a debt crisis.

In a recent conversation with a friend regarding an individual’s success, he argued that not everyone is meant to be successful. That the society has to exist in some sort of an equilibrium, and that explains why everything has its opposite - the rich vs the poor, the most successful vs the less successful, good vs evil, and so forth.

Perhaps, a justification for his thinking might have something to do with the illusion of success. Everyone is caught up chasing the illusion of success, without knowing what exactly they're chasing after. They have no roads, no plans, no lights, only pitfalls. Everyone wants a good life; live in a good house, take their kids to good schools, buy a dream car or/and a house, live a debt free life and eventually be happy. Some have borrowed to sustain this kind of life.

However, this article does not seek to address the verbosity with which success is defined, but rather to assure you that you can live a comfortable life. The kind of life that you desire regardless of the nature of your profession. It offers to you on a plate, what you've been searching for but could not exactly say what it is – The Road to Financial wellbeing.

Financial wellbeing is a situation where you are resistant to economic shocks that may occur. Whether as an individual or as a business. Achieving financial wellbeing should be at the core of every individual who wants to be successful, in their own definition.

The following are 5 things you can do to achieve financial wellbeing.

1. Understand your scope.

Achieving financial stability does not happen in an instant. It's neither a gamble nor a lottery ticket. Financial wellbeing begins with a detailed plan and committing to that particular plan. It has a lot to do with you as a person than the money you're sweating for. If you have never analyzed your financial status, then this is the time for you to do it. Start by defining what financial wellbeing means to you. Then give a realistic picture of your current financial status. Highlight your revenues and re-evaluate your expenses in the process.

2. Develop good financial habits.

In assessing your financial status, do you notice any constraints that you can help resolve? Are you spending high? Are you in debt? Getting out of a borrowed life into a life that you own, begins with developing good financial habits. You can develop good financial habits by, evaluating expenses, controlling your impulse spending, make savings automatic, eliminate and avoid debt at all cost, only except when used for investment, investing in your future, and diversifying your investments.

3. Create a Plan.

It was once said, a journey of a thousand miles begin with a step, so does the road to financial stability. You will not be stable overnight, but having the right financial plan will guide you to stay discipline. In your plan, every expenditure should be Budgeted for. The main aim is by increasing source of revenues, and reducing expenditure. If you are a low-income earner, you can either:

  • Ask for a raise at work.

  • Work on improving your salary worth.

4. Commit to that plan.

Old habits die hard, but when it comes to financial issues, you should make it personal. During financial plan implementation, you should focus on living below your means, to maximize on savings and investments.

5. Invest in yourself.

The greatest investment that will always pay off is investing in oneself. Your main aim should be on mastering financial literacy, Acquiring more skills to increase your net worth, and be competitive in the job market. 

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Comments

    Grace | September 24, 2020 13:40

    indeed here l go for

    KILONZO | September 22, 2020 12:25

    very insightful

    bramuel | September 18, 2020 14:03

    very educative,i have to invest in myself right away no matter what happens.

    OPAKRWOTH | September 18, 2020 05:21

    Eye opener for me Thanks for the update

    Kevin | September 17, 2020 08:58

    Working to implement so effectively

    Brandon | September 16, 2020 09:11

    Strong advice

    Alex | September 16, 2020 07:54

    Really educated and timely

    Mandela | September 15, 2020 17:25

    You are just on point! well researched work..Blessings to you.

    Rebecca | September 14, 2020 23:20

    Well said

    Ngageno | September 14, 2020 19:02

    Am greatfull for the leason, well said 👏

    Richard | September 13, 2020 17:34

    educative

    Default profile photo 50

    Florence | September 14, 2020 19:57

    Very educative

    Morrison | September 13, 2020 16:27

    Thanks for sharing 🙏🏻

    Angela | September 13, 2020 15:12

    Digestive

    Matsiko | September 13, 2020 10:56

    So nice and educative

    CATHERINE | September 13, 2020 10:40

    well said

    Collins | September 13, 2020 08:03

    inspired

    Basil | September 13, 2020 07:29

    Very interesting. Very rich message.

    DAVID | September 12, 2020 11:48

    Great article! Thank you for the info.

    Faith W. | September 12, 2020 10:55

    Quite informative. Taking it upon myself.

    MERCELYNE | September 12, 2020 10:54

    Great ...you've actually nailed it! In everything, always have a beginner's mind not an expert.

    MUYOMBA | September 11, 2020 20:57

    It is a good guide,educative and inspiration thanks

    Esther | September 11, 2020 16:21

    Thank you so much

    Allan | September 11, 2020 15:55

    Good advice.. Note taken

    Agnes | September 11, 2020 14:23

    Great with a lot of inspiration

    JOYLEEN | September 11, 2020 13:36

    Great eye opener,thank you

    Nancy | September 11, 2020 13:02

    Reflective and timely. Thanks

    Celestine | September 11, 2020 11:31

    Thanks for sharing its informative

    JOSEPH | September 11, 2020 08:12

    so educative and inspirational a good lesson learnt for me

    Roselyne | September 11, 2020 07:41

    well said, interesting

    Cornelius kipkoech | September 11, 2020 05:45

    Thanks this article has actually educational and informative

    Andrew | September 11, 2020 03:49

    Thankyou. I really needed that.

    Nabadda | September 10, 2020 21:46

    Inspirational message. Thank u fuzu team

    Vincent | September 10, 2020 20:32

    I have been challenged that is a fact not fiction

    Rael | September 10, 2020 20:07

    thanks ,very informative

    Brenda | September 10, 2020 18:54

    Thank for this advise....indeed planning and record keeping is key and will even help one to track their expenses

    Godfrey | September 10, 2020 18:12

    So brave

    Shafic | September 10, 2020 18:11

    Thanks for the advise

    Benard | September 10, 2020 17:33

    Thanks

    Nyambura | September 10, 2020 15:42

    Indeed the article is so inspiring and informative. Budgeting, save first before you spend is the way to go.

    Rebecca | September 10, 2020 15:28

    I am present, what I want to know is that is getting loans to improve business a bad habit also, how does one handle loans in business to stay afloat

    Angel | September 10, 2020 14:53

    This awesome

    Beverly | September 10, 2020 14:13

    Awesome

    bosco | September 10, 2020 13:45

    interesting

    Nelson John | September 10, 2020 13:43

    Thanks, I will try to invest in myself.

    AMURON | September 10, 2020 13:33

    Financial discipline is key..

    KYAIRO | September 10, 2020 13:26

    Hmmmm, still working through it,

    Cliff Odhiambo | September 10, 2020 13:25

    Well said

    ABEDNEGO | September 10, 2020 12:46

    It's a good advise

    Emmanuel | September 10, 2020 12:23

    Very important when it comes to personal finance

    jackson | September 10, 2020 12:01

    It is true,Thanks fuzu for the advice.

    Collins | September 10, 2020 11:58

    Thanks for the advice

    Mercy Wanjiru | September 10, 2020 11:52

    worth reading

    Jack | September 10, 2020 11:51

    Absolutely truth and educative.

    Martin | September 10, 2020 11:09

    Thank you for such an awesome and enlightening read 👍👌

    Lydia | September 10, 2020 10:56

    Thanks

    JOSEPH | September 10, 2020 10:56

    Thank you for the article,very helpful

    ELIZABETH | September 10, 2020 10:51

    Very educative and encouraging

    Julius | September 10, 2020 10:37

    Very educative & inspiring piece financial information.

    Auma | September 10, 2020 10:23

    Informative

    Mulinde | September 10, 2020 10:22

    That's the perfect thing to motivate me in my financial bill of development

    Stephen | September 10, 2020 10:11

    Thanks for this educative article. Financial discipline is a constant for financial wellness.

    nancy nyambura Migwi | September 10, 2020 10:10

    Valuable advice

    Andrew | September 10, 2020 10:05

    well articulated and very helpful

    Yitzhak | September 10, 2020 10:02

    Significant points to take home, thanks!

    OSCAR | September 10, 2020 09:56

    Financial discpline and living within your means..Be yourself and not someone else you look up to.Work hard,manage your expenses especialy on luxury expenses and safe more for a future investment is the way to go..Stop the life is too short narrative..you will die poor..VERY POSITIVE INFORMATION. Thanks Fuzu

    Lucas | September 10, 2020 09:54

    Very educative, thank you very much fuzu.

    NABUKENYA | September 10, 2020 09:48

    Very good advice. Thanks

    NABUKENYA | September 10, 2020 09:48

    Every good advice. Thanks

    Benson | September 10, 2020 09:47

    True nyc piece to rely on n work on it

    Joyce | September 10, 2020 09:44

    Exactly what i needed,....

    Paul | September 10, 2020 09:42

    Nice

    Winnie | September 10, 2020 09:36

    The article is so helpful

    HARRIET | September 10, 2020 09:32

    very inspiring

    Irine | September 10, 2020 09:32

    Indeed.. Wow

    Joseph | September 10, 2020 09:32

    Very inspiring. Thanks.

    ARIMO | September 10, 2020 09:16

    incredible article. Thanks Fuzu. May you send more.

    Tobias | September 10, 2020 09:10

    Nice piece. Worth reading. A timely advice. Should be given a chance in implementation

    Alfred | September 10, 2020 09:10

    Thank you Fuzu for this great artical.

    KARIUKI | September 10, 2020 09:09

    Yeh, to be financial stable you have to be disciplined good article

    Anyiti | September 10, 2020 09:04

    Thanks very much

    Bol Geah | September 10, 2020 08:41

    awesome Notices

    Phoebe | September 10, 2020 08:37

    Thank you

    Joshua | September 10, 2020 08:28

    Very impressive!. Financial literacy isn't taught in institutions and everyone can learn how to earn, save and invest their money wisely. However, this takes self discipline.

    FELIX | September 10, 2020 08:28

    Great

    gilbert | September 10, 2020 08:20

    excellence message got it

    Bernice | September 10, 2020 07:59

    Wonderful read Fuzu. Financial literacy is very important for everyone.

    SAUMU | September 10, 2020 07:58

    Well said,thank you.

    sarah | September 10, 2020 07:42

    Enlighting indeed

    Omod | September 10, 2020 07:39

    Thanks so much for your advice fuzu. The message is very important to everyone of us.

    OBICH | September 10, 2020 07:38

    Its an article that will forever inspire every one in the financial world

    Benson | September 10, 2020 07:38

    Wow it's very educative thanks so much

    JAQUIN | September 10, 2020 07:32

    Gospel truth. Nothing good comes easy. It takes work. Thank you for the insights

    Catherine | September 10, 2020 07:29

    Thanks for the info,I will try and start living below my means

    DAVID | September 10, 2020 07:25

    Good advice

    JOSHUA | September 10, 2020 07:25

    Great Fuzu team. I've learnt a lot on the road to financial stability.

    FAITH | September 10, 2020 07:24

    A good read

    Muwanguzi | September 10, 2020 07:15

    Nice thanks

    scarlet | September 10, 2020 07:08

    Strong financial advice

    mucwa | September 10, 2020 06:59

    Thank you

    Jane | September 10, 2020 06:58

    Nice one n well said

    josephine | September 10, 2020 06:56

    Well said

    ROBERT | September 10, 2020 06:53

    So eye opening

    steve | September 10, 2020 06:47

    Thanks so much

    Dennis | September 10, 2020 06:47

    Powerful! I love it.

    Peter | September 10, 2020 06:41

    I am enlightened

    Elphas | September 10, 2020 06:39

    Well said and seriously thinking about it

    Rhoda | September 10, 2020 06:39

    Thanks

    Gibson githaiga | September 10, 2020 06:35

    very instrumental artical

    VINCENT | September 10, 2020 06:33

    Great piece.

    MYRA | September 10, 2020 06:29

    Good tips

    THOMAS | September 10, 2020 06:22

    Thanks

    Anne | September 10, 2020 06:16

    Good

    Viola | September 10, 2020 06:15

    Really informative thank you

    ODIIT | September 10, 2020 06:09

    Thanks so much for financial advice. i believe with such information, we shall be in position to excess financial discipline. Thanks Fuzu

    AMANYIRE | September 10, 2020 05:55

    Worth reading indeed

    Jebet | September 10, 2020 05:41

    It's a good article.

    CHELANGAT | September 10, 2020 05:30

    Good

    Faith | September 10, 2020 05:11

    Pretty good advise right there

    Olivia | September 10, 2020 05:03

    Thanks

    Atango | September 10, 2020 05:00

    Thank you Fuzu, This is very helpful. I am going to strive to work on these.

    NEVILE | September 10, 2020 04:35

    Important advice.

    Amos | September 10, 2020 04:18

    What an inspiration this morning itvhas opened my mind a great deal

    Kanyesigye | September 10, 2020 04:12

    Encouraging

    NYAKIMORI | September 10, 2020 04:09

    Woooooow quite amazing 😍

    Samuel | September 10, 2020 04:00

    nice Article

    Jackline | September 10, 2020 03:20

    Thanks for this

    Beatrice | September 10, 2020 03:03

    Very educative article thank you

    Duncan | September 10, 2020 02:18

    A very good read 👍

    Khwatenge | September 10, 2020 00:58

    Very true in deed


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