Taking control of your finances is never easy at the best of times and has become even harder for many given the ongoing global pandemic. Over the past 12 months, we have seen a growing number of people turning to the not-for-profit sector to help them through what has been a difficult period for the nation.
But improving financial wellbeing can be a complex matter, and it is not something most of us enjoy spending any spare time delving into. The thought of getting on top of your finances can seem like a daunting or even an impossible challenge. However, time spent in this area of life can help set a future with less stress and greater financial security.
That is why the Commonwealth Bank’s Not-for-Profit Sector arm has released a free, plain English and step-by-step workbook and interactive resource Your Financial Health comprising simple and practical tools and tips to help people build confidence when managing their money. Helping others with their finances is a way your organisation can increase its impact.
At its core, financial wellbeing is about being able to:
- Meet your everyday finances and manage debt responsibly
- Build up savings for a rainy day to help you bounce back from unforeseen events
- Manage your one-day finances to achieve medium and long-term goals.
Building financial wellbeing takes time and patience. Gains made can often be small and progress can feel painfully slow, but the key is to keep focused and keep going. Every couple of dollars saved here or there helps put you on the path to a stronger financial future. And over time, it is amazing how quickly these small amounts really do start to add up.
So, no matter what your financial position currently is, this workbook has been developed to help Australians focus on their finances.
Taking control of your finances means taking the time to look after you and, while none of us can know what the future holds, we can be better prepared for it.
I hope this workbook provides the prompt for you, your teams, your customers and clients, to focus on practical ways of improving financial wellbeing and bringing financial goals - no matter how big or small - to life.
Until next time.