Singleness and Financial Wellness

At some point in each and every one of our lives, we get broke. We are short on money, jobs don’t really pay us enough and that worries and stresses us. However, what you need to remember is that in such times, stressing out won’t do you any good. All it will do is waste more of your time which you can channel into something productive.

As I look back to days of my single life, I recognize that I struggled understanding the importance of my financial wellbeing. It was filled with uneasiness when I contemplated when and where I spent my money. For instance, I never seemed to mind spending on lavish trips even if it meant dipping into my emergency money. I wanted to travel and that would take over my thoughts of covering my expenses for emergencies. I traveled often and lavishly I might add. Then crisis hit my household, I lost my job to company going out of business. I thought, “my parents are going to flip when I tell them I need to move back home (as an adult with no savings). Oh! It was ugly to say the least. Fast forward, it was the best lesson ever for me.

Financial wellness is a process in which you learn how to manage your finance and expenses successfully. It is true that in this day and age we cannot do anything without money; it controls us. However, you should not let money be your driving force.

To promote your financial wellness, the first thing you need to do is differentiate between the things you want and the things you need. For example, you need food to eat and survive but you don’t necessarily need fast food to survive. Buying fresh groceries is cheaper than fast food. It is a healthier option. Use public transport instead of buying your own car. It is not a need. Limit your spending on things like alcohol. We all know that it does more harm than good. Choose the safer and cheaper option. You’ll be saving money as well as improving your health. Only spend your money on things you think are absolutely crucial. Save the rest for your future or your kids.

For a good and solid foundation of financial wellness, you also need to start paying your bills on time. Delaying them will do you no good. It’ll only worry you more. You’d come back home from work, switch on a light and be reminded of the bills that are due. No one really wants to live a life under emotional torture and spend the rest of it stressing out, right? So, start paying your bills early and be free from debt!

When it comes to financial wellness and your relationship status, people tend to have mixed views. Some might consider improving financial wellness by being in a relationship while others might think that financial wellness can only be achieved if you’re single and by yourself.

While it is true that being in a relationship means your costs will be split between your boyfriend/ girlfriend, being single also has it’s financial pros. You get to decide what to do with your money and how you want to spend it. A single woman will be fine on her own financially even if she’s not in a relationship. It just requires a little bit of organizing and a clear positive mind.

You don’t need to discuss everything with your partner first,neither do you have to depend on them to pay the month’s phone or electricity bill. Being single means you can learn to survive on your own and be independent.

Single or in a relationship, don’t lose hope. Even the hardest of times pass by and things turn around.

Love and Light, Coach Cai