Financial

Create Lifestyle

Financial well-being is about more than just income—it’s about creating stability, freedom, and alignment with your priorities. The way we earn, spend, and save reflects what we value and shapes the opportunities available to us.

Core-concepts

Dimension 8

17 minutes 41 seconds: How To Make Financial Wellness Your Reality | Brent Hines | TEDxPleasantGrove

Module 1

Financial Fulfillment

Question

What actions fulfill my financial dimension?
What does financial security feel like to me?
How does money support my overall well-being?
In what ways can I align my spending with my values?

Module 2

Time & Energy

How much time & energy do I put into my financial dimension?

Reflect on the time you allocate and the effort or energy you invest in each dimension of wellness. Rate yourself on a scale of 1-10 for each dimension, considering the following:

Time allocation: How much time do you dedicate to activities related this dimension?
Effort and energy: How much mental, emotional, and physical energy do you invest in enhancing this dimension?

Visualize

Budget

Money is a tool that helps us meet our needs, grow, and create a fulfilling life. Maslow’s Hierarchy of Needs offers a way to view our financial choices beyond just saving and spending—it helps us see where our money supports our survival, security, relationships, self-esteem, and long-term aspirations. By reflecting on our spending through this lens, we can align our financial habits with what truly matters, ensuring that every dollar contributes to a life of stability, purpose, and fulfillment.

1. Physiological Needs

(Basic Survival: Food, Water, Shelter, Health)

How much of my income currently goes toward essential survival needs (food, housing, utilities, healthcare)?
Do I feel financially secure in meeting my basic needs each month? If not, what adjustments could help?
Am I prioritizing high-quality essentials (nutritious food, clean water, safe housing) that support my well-being?

2. Safety & Security

(Stability: Emergency Fund, Insurance, Savings, Future Planning)

Do I have a financial safety net (savings, emergency fund, or insurance) that makes me feel secure?
What financial risks or uncertainties concern me the most? How can I prepare for them?
Am I making choices that support long-term stability (such as debt reduction, retirement planning, or investments)?

3. Love & Belonging

(Community & Relationships: Social Spending, Giving, Experiences)

How does my spending support my relationships and social well-being?
Am I investing in experiences that bring me closer to family and friends?
Do I contribute to causes or communities that are meaningful to me?

4. Esteem

(Personal Growth: Learning, Career, Confidence-Building Investments)

Do I invest in my personal or professional growth (education, skill-building, coaching, personal development)?
Are there financial habits that improve my confidence and independence (such as managing money wisely, setting financial boundaries, or negotiating better pay)?
How does my financial situation affect my self-worth, and how can I create a healthier mindset around money?

5. Self-Actualization

(Purpose & Fulfillment: Dreams, Passions, Higher Goals)

Does my financial plan support my highest aspirations and long-term vision for life?
Am I using money to create meaningful experiences, travel, or pursue passions that align with my purpose?
If I had unlimited financial resources, what would I change about my spending or priorities? How can I start incorporating that now?

Final Reflection:

Looking at my financial habits, which level of Maslow’s hierarchy am I currently prioritizing the most?
Are there areas I’ve neglected that need more financial attention?
What small shifts in my financial choices could help me feel more balanced across all levels?

Environmental

Goals

Actions

Fulfilling the financial dimension of wellness involves managing your financial resources in a way that aligns with your life goals and values. Here are some strategies to enhance your financial wellness:

Create a Budget: Develop a comprehensive budget that outlines your income, expenses, savings, and financial goals. A budget helps you understand where your money is going and ensures you're living within your means.
Set Financial Goals: Establish both short-term and long-term financial goals. These could include saving for emergencies, retirement, a vacation, or buying a home.
Emergency Fund: Build an emergency fund with at least three to six months' worth of living expenses to provide a financial safety net in case of unexpected events.
Reduce Debt: Develop a plan to pay off high-interest debt, such as credit cards. Focus on reducing or eliminating debt to free up resources for savings and investments.
Invest Wisely: Learn about different investment options, such as stocks, bonds, and real estate, and create a diversified investment portfolio that aligns with your financial goals and risk tolerance.
Regularly Save: Make saving a consistent habit. Set up automatic transfers to your savings or investment accounts to ensure you're regularly setting aside money for your goals.
Live Below Your Means: Avoid overspending and make a conscious effort to live below your means. This allows you to save and invest more for the future.
Financial Education: Continuously educate yourself about personal finance, investing, and money management. Books, courses, and online resources can help you become more financially literate.
Protect Your Assets: Obtain appropriate insurance coverage to protect your assets, including health, auto, home, and life insurance.
Plan for Retirement: Start saving for retirement early, and consider retirement accounts like a 401(k) or an IRA. Take advantage of employer-sponsored retirement plans if available.
Tax Efficiency: Understand tax laws and find ways to minimize your tax liability, such as taking advantage of tax-advantaged accounts and deductions.
Avoid Impulse Purchases: Practice mindful spending and avoid impulse purchases. Think critically about your purchases and focus on buying items that truly add value to your life.
Review Your Finances: Regularly review your financial situation, update your budget, and adjust your goals as needed.
Seek Professional Advice: If necessary, consult with a financial advisor or planner who can provide expert guidance and help you make informed financial decisions.
Develop Multiple Income Streams: Explore opportunities to diversify your income, such as starting a side business, investing in stocks or real estate, or pursuing freelance work.
Charitable Giving: Include charitable giving as part of your financial plan, as helping others can be personally fulfilling and may have tax benefits.

Remember that financial wellness is not solely about accumulating wealth but about achieving financial peace of mind, stability, and the ability to meet your life goals. It's a dynamic process that requires continuous assessment and adjustment to align with your evolving financial needs and objectives.

Resources

Quotes

“Beware of little expenses; a small leak will sink a great ship.” -Benjamin Franklin
“Money is a terrible master but an excellent servant.” -P.T. Barnum