by Ratidzo Njagu & Ratidzo Makombe
Financial Wellness is about achieving balance, that is, building up diverse income streams and learning to manage and grow our finances. We are now in the second half of the year and In the wake of Covid-19 most financial goals have been disrupted and alot has changed. Now is the perfect time to reset and get our finances back in order one step at a time. Financial wellness demands self-reflection but is also geared towards others. This makes for a more balanced and sustainable future-focused approach to financial wellness for the individual, the family unit and wider society.
Last week we got to sit down with Ecocash CEO Natalie Jabangwe to discuss Financial Wellness.According to Natalie, striking this balance can be achieved by firstly accounting for all streams of income and learning to grow this income.
How do I do this?
Start by changing how you approach finance. The thought of it should not strike fear in your heart. Financial Wellness starts with making simple decisions and building good money management habits. The key thing to remember is to change how you view finances, manage your expenses and consider how you can start to generate and then slowly but surely invest more of your income .
Natalie also recommends the following:
Get Financially Literate: Information is a powerful tool that has the potential to change our financial futures. Actively look for information on financial management- read books, follow blogs and download some of the Kunashe Foundation Resources . Where possible, take the time to actively find out what your bank and other financial institutions have to offer.
Financial Planning: Don't just think of wealth building ideas- write them down. Write down your financial ideas and then strategise on how to best execute these. As you write, you discover loopholes and are well placed to make appropriate changes to turn your ideas into viable ventures.
Own it- Set your goals and go for them! Your goals are personal and only you know where you want to go. Stop giving other people the baton stick to make financial decisions for you. Start where you are with what you have- the journey may not be easy but it will be full of lessons and you certainly wont regret it!
We are all capable of achieving financial wellness but we need to do the work. So be encouraged today, take active steps and secure your financial future.
**This post is powered by Econet Wireless.
Comments