2020 Financial Wellness Trends.

We all agree that 2020 events have taken the world by storm. From Covid19 to the charged political climate, our lives have dramatically changed resulting to a shift in our financial realms. As the world transitions to its new normal, financial wellness is becoming an important issue.

Financial wellness is looking out for your well being by having a healthy relationship with money. It is ensuring that your current and future needs are met with ease. This is an important aspect of the post COVID-19 life that we must embrace.

The need for Financial wellness has led to the creation and expansion of many programs within the financial industry. What are some of these Financial Wellness Trends?

Financial Consciousness

There is an awakening that income, which is the reward for time and energy, must be well managed. Led by feminine intuition, financially Conscious women have an understanding that the energy of money flows where it is properly managed.

Conscious spending and healthy money management skills like mindful spending, living withing income means, saving and investing are becoming common in many households.

Financial Literacy

Driven by a desire for healthy financial lives, women are turning to financial literacy books, blogs like www.hermoneyguide.com and courses for help.

A healthy financial lifestyle creates balance which brings peace of mind.

Debt Reduction

Debt is a result of living beyond your means and failing to plan for emergencies and life events. Debt awareness helps us understand how to mange fiscally destructive habits. The good news is that debt reduction trends are on the rise.

According to the Q2 2020 Federal Reserve Bank of New York report, total household debt declined by $34B for the first time since 2014. This trend signals a shift in house hold debt management which is a healthy trend.

Financial Counseling

Financial counseling services are becoming a popular wellness trend. Speaking to experts about your financial position and how to bring balance into your financial experience can be life changing.

Financial Advice and Planning

Financial advisors and planners are professionals available to those who may be lacking money management skills.

These professionals assist with cash flow management, retirement planning, saving and investments, and so on.

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