National Financial Educators Council

The Connection: Mental Health and Financial Wellbeing

There is a strong connection between mental health and financial wellbeing. Money has impact on far more than just people’s bank accounts – it permeates most areas of their lives. It affects central areas of our happiness and well-being: relationships, health, lifespan, lifestyle, and career. Financial problems often have significant effects in many areas of people’s lives and overall life experiences.

The stress of having too much debt or being financially insecure can have a tremendous impact on an individual’s emotional and physical health. Financial insecurity may include constant reminders of outstanding debt, or more extreme situations such as unknown circumstances regarding your next paycheck, keeping a roof over your head, or feeding yourself and your family.

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FINANCIAL LITERACY IS ABOUT HELPING YOURSELF TO LIVE BETTER

increase your credit score

pay off high interest debt first

increase your credit score

Most credit scores could be increased by simply checking your report and clearing up any errors or disputing accounts paid in full.

live within your means

pay off high interest debt first

increase your credit score

Establish a budget for your household and automate your banking and bill payments. This will ensure that your accounts are paid on time every month.

pay off high interest debt first

Make a plan to attack your high interest debt to eliminate bills and save on interest. The more you pay down your debt, the quicker your credit score will increase.

build an emergency fund

enroll in a financial literacy class

pay off high interest debt first

Having an emergency fund is a way to ensure you have cash to handle unexpected expenses such as car repairs, housing repairs, appliance replacement or repair. This fund is important to avoid increasing debt to cover many of these expenses.

save toward retirement

enroll in a financial literacy class

People who are heavily indebted do not think they can save for retirement. However, you cannot afford not to save for this life event as soon as possible. The sooner you begin your retirement savings the longer you have to benefit from compound interest. Start small and increase your savings as your income increases or as youi pay down debt.

enroll in a financial literacy class

While the information posted on our website is helpful and provides basic information on managing personal finances, it cannot replace the benefit of classroom instruction, question and answers, and visual instruction from a trained professional financial instructor. The information you will receive can be life changing in providing knowledge and tools necessary to make informed financial decisions.

FINANCIAL MANAGEMENT TIPS

Credit Profile Basics

Nearly every individual will utilize credit during their lifetime. It is important to understand how your credit profile affects your overall personal financial situation, and apply practical tips to help build an excellent credit rating.

A credit score is a quantification of the information listed on your credit report that helps lenders determine the risk associated with lending you money. Essentially, this three-digit number tells creditors how likely you are to default on a loan based on the information provided in your credit report. Your FICO score is golden!

5 Money Habits That Could Help You Achieve Financial Freedom

Being able to pursue the lifestyle that we want without having to worry about money is the financial freedom that many of us want.

Here are five money habits that could help you get started:

Set goals and write them down
Be mindful of your spending
Pay yourself first
Pay off credit cards
Get financially smart.

Find out more

Source of Life Ministries of Kingsland, Inc.

National Financial Educators Council

The Connection: Mental Health and Financial Wellbeing

FINANCIAL LITERACY IS ABOUT HELPING YOURSELF TO LIVE BETTER

increase your credit score

pay off high interest debt first

increase your credit score

live within your means

pay off high interest debt first

increase your credit score

pay off high interest debt first

pay off high interest debt first

pay off high interest debt first

build an emergency fund

enroll in a financial literacy class

pay off high interest debt first

save toward retirement

enroll in a financial literacy class

enroll in a financial literacy class

enroll in a financial literacy class

enroll in a financial literacy class

enroll in a financial literacy class

FINANCIAL MANAGEMENT TIPS

Credit Profile Basics

5 Money Habits That Could Help You Achieve Financial Freedom

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