One of the Toughest Things to Master for Your Financial Health
One of the Toughest Things to Master for Your Financial Health
by Todd Kunsman Financial Health
When it comes to your life, you want to stay physically and mentally healthy. And this also applies to your personal finances, which is commonly called your financial health.
While your physical and mental health is far superior to your financial health, it’s still crucial to work on this too. And as I know and you may too, finances can cause some serious stress. That financial stress can then put a toll on your body, mind, and relationships. Yet, when it comes to your personal finances and financial well-being there is one area that is critical to master: self-control. The challenge is, it might be the toughest thing to be consistent with throughout your lifetime.
What is Financial Health?
Before we get into how self-control affects your financial health, I think it’s important we are all on the same page on the definition.
Financial health is the term used to describe your own personal finances and how healthy it is. This includes things like how well your saving, what you put away for retirement, how little debt you have, etc.
There is a bit more to it than that, but for the sake of this post, we’ll keep it that simple.
Why Self-Control Matters to Your Financial Health
As I mentioned in the introduction, I think self-control is one of the toughest things to master for your financial health.
Your ability to control certain desires or urges with your money, can really determine your overall financial stability and results in the long-run.
It’s also incredibly challenging, especially if you are just starting to take control of your personal finances.
I see a need for discipline and self-control in four key financial areas:
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