Personal finance wellbeing has many definitions, as financial wellness and freedom look different to everyone. For some, personal financial wellbeing means attaining financial security at a young age and being able to retire early. For others, financial wellbeing means paying off debt so they can access greater financial opportunities or developing positive money management skills they’ll put into practice for years to come.

You can ensure financial wellbeing by taking a 360-degree approach to your finances. This means setting up your finances in a way where every aspect of your financial ecosystem is taken care of, from implementing a realistic budget that allows you to live comfortably to investing wisely for long-term growth.

It’s also important to regularly review your budget and financial routine to ensure it is still working for you and your lifestyle. Financial freedom isn’t about working within unrealistic restraints — it’s about finding the balance between living the life you love and working towards the life you want.

Like it or not, money plays a massive role in our overall wellbeing. When not managed properly, money can be a big stressor that can leak into other areas of our lives. Having control and knowledge over where and when your money is going puts us in a position of empowerment where we make smarter decisions regarding our finances, from investments to budgets.

You can become more financially responsible in three core ways: regularly saving, working within a budget and debt prioritisation.

Take the time to create a detailed budget to track income and expenses, ensuring financial priorities, such as bills and living expenses, are met before delegating a portion of your salary to savings for emergencies and future goals. You can also start minimising your debt levels by slowly chipping away with monthly repayments.