6 ways to support your financial wellbeing

Posted on December 21, 2022

Keeping your financial well-being in check is just as important as keeping your physical and mental well-being healthy. Removing triggers of stress will help you feel more in control of your well-being, across all areas. Below we have listed just six ways you can support your own financial well-being.

As ever, if you need any support, please see our Financial Wellbeing page. It has a range of financial information, and could also provide some help and guidance.

1. Create a budget that works for you.

Creating a realistic budget based on your own income and expenditure will help you to be in control of your finances. While the unexpected can happen, having a budget will allow you to feel more in control, and capable of dealing with whatever comes your way. Please see our Blog (How to create a budget you can stick to)

2. Try to save a bit of money regularly

Saving can be hard, but getting yourself into a regular saving habit can transform your financial situation. As we know, nowadays, it’s all about the money, and having some extra cash set aside to live out your dreams, or to fall back on when you find yourself in difficulty. You can save into your Credit Union account via Standing order, at a frequency that suits you, or via PayPoint card to save a bit of left-over cash, it all adds up.

3. Set aside some emergency cash

Having some emergency cash set aside is like creating your own insurance policy should the unexpected happen. As the saying goes, ‘always expect the unexpected, and this reigns through in everything we do. Having some cash set aside for an unexpected event will allow you to continue your life as normal as possible until you figure out a long term solution. Check out our blog “Creating a rainy day fund” for more information on how to set up some emergency savings.

4. Be open and talk about money with your friends and family

By being open and honest about money to your friends and family will allow becoming more familiar with your finances and in turn, allow you to make more comfortable and informed decisions around your money. Each year there is a “Talk Money” week, with the aim to get people talking about money. Find out more:

5. See if you can get a better deal with your providers

Shopping around and switching providers for things like gas, electricity and car insurance, can save you money every year. Many don’t know the benefits of looking around for different providers, but there is one thing we all know and that is we want to save money wherever we can. Whether it is saving for a rainy day, or to send your kids to college, a little can go a long way. Whatever your goals, making simple lifestyle changes make a tremendous difference.

Don’t be afraid to seek advice

There is a range of organisations that can give you informed financial advice. From The Money Helper Service to Turn2Us to Money Saving Expert, please see our Financial Wellbeing page for direct links to their websites for advice and support.