Financial Wellbeing
Almost 8 in 10 UK employees take their money worries to work, affecting their performance. Fortunately, there are many ways to champion financial wellbeing in the workplace.
Money worries affect our mental and physical health, which is why the Council as part of the Four Pillars of Wellbeing toolkit have brought together details of some supports available for staff experiencing money issues or those who wish to have better control over their finances for the future.
What we mean by financial wellbeing
Financial wellbeing is about a sense of security and feeling as though you have enough money to meet your needs. It's about being in control of your day-to-day finances and having the financial freedom to make choices that allow you to enjoy life.
Here are a few ideas to help maintain your financial wellbeing.
- Write down your budget: Knowing your income, expenditure and disposable income once your day-to-day expenses are covered, will give you confidence in your decisions. If your partner or spouse usually looks after the finances, be sure to talk the budget through with them, so that you both understand your financial situation.
- Avoid income comparisons: Research shows that comparing ourselves to our friends or peers reduces life satisfaction. Keep in mind that we all have different priorities and find pleasure or enjoyment in different things. For example, you may love to travel and invest in experiences, rather than having a big car or house.
- Look for the positives: Research in the field of neuroscience has shown that practicing gratitude regularly can help to rewire your brain structure. Feeling grateful stimulates the production of natural 'antidepressants' such as serotonin and dopamine, giving you a feeling of contentment and wellbeing. Try writing down 3 things you're grateful for each day.
For more information on Financial Wellbeing, and up to date advice, check out the Advice Shop webpage. In addition please click here (PDF, 195 KB)(opens new window) for our handy guide to local advice and support in West Lothian.
