DEBT047 5 tips to improve your financial wellbeing (553 words)

When was the last time you considered the effect your financial wellbeing has on your overall health? This article touches on the stressors that managing our finances places on our health and provides five easy to implement strategies to improve our finances and our overall wellbeing.

In these ever-changing and uncertain times in society, there has never been a greater emphasis on our health and wellbeing.

However, there is a crucial element that is often overlooked – our financial wellbeing. When addressing our overall health, it is essential that we also look at the responsibilities and stressors that come with managing our finances.

According to the Organisation for Economic Co-operation and Development (OECD), the average Australian household finds themselves in debt around 203% of their net disposable income, ranking us fifth worldwide behind countries such as Denmark and Norway. In this debt race, the further away from first place we come, the better!