Health and Wellness in the Workplace: How to be Financially Stable

At Paradigm Health & Wellness, we promote holistic wellness in the workplace by helping people learn how to be financially stable.

With the start of a new year comes an opportunity to motivate ourselves to achieve new goals— whether that’s exercising more, eating healthier, or pursuing a promotion at work. One area where goal-setting can bring you success is managing your finances.   

Gallup scientists Tom Rath and Jim Hartner have researched how people from more than 150 countries experience well-being. They’ve found five essential elements all people must develop to lead a healthy life. These five elements are: career, social, financial, physical, and community well-being.

To kick off the new year, we’re going to talk about financial well-being. You’ll learn what this means, what it looks like, and how you can be financially stable—starting today!

Financial stability is more than just saving money.

At Paradigm Health & Wellness, we promote holistic wellness in the workplace by helping people learn how to be financially stable.

As the old saying goes, money can’t buy happiness. While this is true, it’s pretty hard to feel happy when you can’t meet a basic standard of living. Leading a financially stable life simply means that you feel secure in your fiscal matters.

If you feel guilty each time you purchase something (even if you need it), you’ll probably lead a pretty stressful life. Feeling insecure in your finances can keep you from participating in new experiences, taking vacations, or spending time with friends—all of which are vitally important for your overall well-being. That’s why it’s so important to manage your spending and financial life well.

What does it look like to be financially stable?

At Paradigm Health & Wellness, we promote holistic wellness in the workplace by helping people learn how to be financially stable.

People who are financially stable, and satisfied with their standard of living, manage their money wisely. Instead of spending their money solely on possessions and materialistic items, they invest in experiences, especially ones they can share with others. These individuals will also spend their money on gifts for others instead of only buying things for themselves.

Those who are financially stable also aren’t anxious about spending money because they budget accordingly. Because they are not in debt, they have the freedom to spend more time with people they like to be around and purchase things they need (and a few things they want).

How can I improve my financial life today?

At Paradigm Health & Wellness, we promote holistic wellness in the workplace by helping people learn how to be financially stable.

Making small adjustments and forming healthy habits in your spending routine can help you become more financially stable. Forming budgets, compiling savings, and capping spending are all important components you should have in place.

However, there are a few additional steps you can take to manage your money well. Here are three recommendations for boosting your financial stability:

1. Buy experiences.

Everyone loves taking a vacation with their family or going out to a nice dinner with friends, and for good reason! Research shows that those who take vacations are less stressed, have healthier hearts and minds, and maintain better relationships. Furthermore, buying experiences (rather than things) can make you happier and give you an increased sense of self. If you want a life that feels financially stable, then work towards saving for memories—not just things!

2. Spend on others.

With the holiday season just past us, you likely experienced both the giving and receiving of gifts. While getting a gift from a friend or loved one is always an exciting feeling, there’s an inexplicable pleasure that comes from thoughtfully picking out a gift and presenting it to someone you love. In fact, research shows that in our neural activity, we get more pleasure from giving to others as opposed to receiving, even if we don’t consciously realize it. So, make it a habit to spend on others and not just yourself!

3. Establish automated payments and savings.

Before we can truly invest in experiences and gifts, we must be financially stable enough to provide for our needs adequately. As helpful as budgets and spreadsheets can be, sometimes we don’t always follow through on our well-thought-out plans. If you’ve found yourself exceeding your spending limits and, as a result, feeling insecure in your financial life—automated payments and saving services could be just the tools you need.

We understand how hard it can be to manage your financial life, especially when unexpected costs arise. But, the good news is you don’t need to make drastic changes to your spending habits to be financially stable! With just a few simple changes to your daily routine, you can start off the new year feeling ready to invest in life’s most important moments!

Paradigm Health & Wellness is located in downtown Lafayette, Indiana. We offer a unique and strategic approach to employees’ mental health, physical wellness, and more. Learn more about our services and contact us today! Like us on Facebook, and follow us on LinkedIn!