Some say it’s as simple as living within your means.

Others might see the tie-in to an intricate balance of the mental, spiritual and physical aspects of money–or having an understanding of your financial situation and taking care of it in such a way that you are prepared for financial changes.

A couple of years ago, the Consumer Financial Protection Bureau (CFPB) released a report defining financial well being as:  “a state of being wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future, and is able to make choices that allow them to enjoy life.” Okay, now we have some definitions. But, what does it mean to people day to day?

The Society for Human Resource Management (SHRM) noted in its 2016 Employee Benefits survey report that 61% of HR professionals polled last year described their employees’ financial health as no better than “fair,” and 17% reported their employees were “not at all financially literate.”

Other research highlights why these benefits are needed. 1,600 full-time employees at PricewaterhouseCooper’s (PwC’s) responded to a Employee Financial Wellness Survey in 2016. Their responses showed that:

• 52% of workers overall are stressed about their finances. And the younger the worker, the more likely he or she is to be worried: 64% of Millennials said they are stressed about their finances.
• 46% of workers spend three or more hours during the workweek dealing with or thinking about financial issues.
• 45% said their finance-related stress had increased over the last 12 months

So, with over half of workers stressing about their finances, do you know what stress can do to overall health?

This isn’t just about money anymore.

Chronic stress can wreak havoc on your mind and body.

Mayo Clinic can give us the quick breakdown:  The long-term activation of the stress-response system — and the subsequent overexposure to cortisol and other stress hormones — can disrupt almost all your body’s processes. This puts you at increased risk of numerous health problems, including:

• Anxiety
• Depression
• Digestive problems
• Headaches
• Heart disease
• Sleep problems
• Weight gain
• Memory and concentration impairment

That’s why it’s so important to learn healthy ways to cope with the stressors in your life.

So, if your financial situation feels out of control, it’s time to take control of your own personal financial wellness so that you can be in control of your own personal health as well.

Start by checking with your employer on what resources they have for “Financial Wellness.” If they don’t have anything in place, seek out the advice and assistance of a financial professional. The time and money you spend in this area of your “health and wellness” could have very real positive short and long term effects for you.

Important Note: The views expressed in this post are as of the date of the posting and are subject to change based on market and other conditions. This post contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

Please note that nothing in this post should be construed as an offer to sell or the solicitation of an offer to purchase an interest in any security or separate account. Nothing is intended to be, and should not be taken to be, investment, accounting, tax or legal advice. If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants or attorneys regarding your individual circumstances and needs. No advice may be rendered by Lenity Financial, Inc. unless a client service agreement is in place.