Financial Planning: The Ultimate Act of Self-Care

May Forever: Your relationship with money

Many of us have felt the anxiety that comes from not knowing where our money is going or how we're going to cover unexpected expenses. It's a universal struggle that can take a toll on our mental and emotional well-being. Yet, by dedicating time to financial planning, we can transform this anxiety into confidence and peace of mind. Just like any relationship, our relationship with money needs time and effort to make it a source of joy and fulfillment.

Think of financial planning as an investment in yourself. Financial planning isn't just about money; it's about creating a life that aligns with your values, goals and dreams. Financial health is not about how much you make, but how you manage what you have. Just as you would take care of your body with nutritious food and exercise, taking care of your financial health is essential for your overall wellbeing.

Quick steps to kickstart your financial planning self-care practice

Here are some simple yet effective steps to get you started on your path to financial wellness:

• Set clear goals: Identify what you want to achieve financially, whether it's paying off debt, saving for your travel goals, building your dream home, or planning for a comfortable retirement.
• Create a budget: Track your income and expenses to see where your money is going. This will help you make informed decisions and avoid overspending.
• Build an emergency fund: Aim to save at least three to six months' worth of living expenses. This cushion will provide peace of mind in case of unexpected events.
• Automate savings: Set up automatic transfers to your savings account to ensure you consistently put money aside without having to think about it.
• Review and adjust regularly: Your financial situation and goals may change over time. Regularly review your finances, at least twice a year, and adjust as needed.
• Invest in a life insurance plan: protect your lifestyle and what matters to you from foreseen and unforeseen events. Having an insurance plan also eases the financial anxiety because you know whatever happens, you have a security net to catch you.

Start your financial self-care journey today. You’ll thank you, later.

Having life insurance is not just about financial planning but a commitment to living fully and responsibly for yourself. FWD The One for mental wellbeing is a customizable plan that includes life coverage, with options to add accidental death and critical illnesses related to mental health, such as cerebral aneurysm, chronic lung disease, and cancer. Additionally, policyholders get exclusive benefit of one-year subscription to ThoughtFull, a digital mental health provider. For as low as P330 per year, you can easily buy this via FWD Online Shop.

The One for mental wellbeing is part of a holistic program, FWD Mind Strength Support Program, offering resources and product promoting mental, emotional, and financial wellbeing. This program provides free online assessment that can be completed in just few minutes and calculates a Mind Strength score to give insights on one’s mental health. After completing the test, you can avail of the 30-day free access to ThoughtFullChat mobile app, where you can consult with a mental health coach via chat. You can also access Mindfulness and Financial Literacy resources to help you improve on your mental and financial wellbeing. 

Remember, taking control of your finances is a journey, not a destination. By incorporating these steps into your routine, you'll be well on your way to a healthier financial future. Embrace financial planning as an essential part of your self-care practice, and watch as it transforms not only your bank account but your overall sense of wellbeing.

Happy planning!