Financial Wellness

A recent financial wellness report from SHRM (Society for Human Resources Management) states that 52% of workers are worried about their overall economic wellbeing, and 64% of Millennials are concerned. The study concludes that the younger the worker, the greater the worry.

And it’s no wonder. According to Bankrate’s 2024 Emergency Savings Report, only 44% of people questioned have $1000 or more to cover an emergency. 

Money worries can negatively impact your health and just about every system in your body. It can also distract you from the task at hand on your job, resulting in lost productivity. 

What Can You Do About It? 

Short of making more money, what can you do to improve your financial wellness and cope with financial stress? There are a few things, starting with self-care. This can take the form of yoga, exercise, or meditation. Even a short walk, according to the Anxiety and Depression Association of America, can produce positive benefits. Any exercise releases endorphins, which help against the adverse side effects of stress. 

Meditation seems like it should be simple enough, but it often isn’t, particularly because of distractions from modern-day technology. You may need to unplug from social media to concentrate and avoid the temptation of comparing yourself to others who seem to be doing better. Instead, remind yourself that your financial situation isn’t going to last. 

Get Your Finances Organized

Your financial wellness is pinned on getting your finances organized. For that to be true, you need to identify your financial stressors — overwhelming credit card or student loan debt, medical expenses, etc. — and figure out how to address them. This may be easier than you think. Contact your creditors and ask them to help you with a revised payment plan. 

Meanwhile, draw up a budget and see what cuts you can make. There are probably more unnecessary expenses than you realize, and seeing them on paper can be an eye-opener. 

You can also look online for resources, such as financial blogs, YouTube videos, or podcasts. Improving your financial literacy can certainly help you understand your present situation and work towards improving your economic wellbeing. 

Sign Up For Self-Help Programs

Ask if your workplace offers financial wellness programs. Some companies are starting to include financial planning in their budgets because they recognize that money worries can lead to lost productivity and even absenteeism due to stress-related illness.

Get A Minute Loan Center Loan 

Applying for a loan might seem contradictory when trying to get your finances in order, but you can use the funds to organize your debt. For example, you could apply for a loan to consolidate your smaller debts into one low-interest manageable loan or to pay off a high-interest loan in exchange for one that’s easier to repay. A loan can also provide the funds you need to pay your bills and meet other needs in an income gap, giving you the peace of mind and space to think of ways to generate more money. So, applying for a loan might be the first thing you do when working towards financial wellness. 

To apply for your loan, create an account, and a customer representative will contact you to discuss the details of your application. Our team of in-house creditors then evaluates and approves applications quickly to get the funds to you as soon as possible. Depending on your time of application, you get the funds on the next or same day. Apply for a loan today and start working towards your economic wellbeing. Contact us for more information.