Do I have enough money?
Updated: Dec 3, 2018
Sometimes people I talk to want to know if they have enough money. The answer to that really depends on what someone wants to do. For this reason, I prefer the concept of “Financial Health”. So what does that mean? In my position as a financial adviser, I tend to think of financial health as sufficient income to comfortably cover your expenses, with income continuing and enough to cover the things you enjoy.
Sounds simple, right? I think so. However it gets more complicated when you factor in different life stages and circumstances:
- Buying a home
- Having a family
- Suffering debilitating illness or injury
- Economic or industry downturn
If you find yourself suddenly and unexpectedly in one of the above situations, you may not be able to easily (or at all) cover your expenses. This can cause financial stress, and financial stress may lead to physical ill-health.
When putting together a financial plan, a financial adviser considers your goals, your current situation, and potential unexpected changes to your situation.
At Genki Finance we want to help you work towards your financial goals whilst also working towards overall financial health. Because if you were able to do the things you want, and have the income that you require coming in, I think you’d probably feel pretty good. And as your financial adviser, that would make me feel good too.
How’s your financial health? If you’d like a financial health check-up, please get in touch.
Posted by: Alison Kaigan – Your financial adviser in Canberra