In recognition of #FinHealthMatters day, the AFCPE staff joins me to help answer the important question: What is financial health and why does it matter? At AFCPE we are passionate about supporting our professionals and working together to ensure that financial health is realized for all.
What is Financial Health?
When we think about financial health, tangible factors like income or savings often come to mind. But the truth is, there is more to financial health than the number in your bank account. Money touches every aspect of our daily lives; it is complex and emotional and affects individuals and families from all incomes and all backgrounds.
“Financial health begins with timely and relatable financial education – in the home, in schools, and in the community. It begins with providing access to trusted and qualified financial professionals -regardless of income or background. It begins when we work together to ensure that #FinHealth is a right, not just a privilege.”
– Rachael DeLeon, Communications Director
“Financial health is about making a choice to improve your overall well-being. While the decisions you make to improve your financial health will be unique to you, the important thing is that you seriously consider where you are currently and incorporate money habits that you can stick to take control of where the future takes you.”
– Katy Carlsward, AFC®, Certification Administrator
Why Does It Matter?
When people struggle financially, the implications are far reaching. Money is the leading cause of stress and relational conflicts, and we are learning more about how closely linked our physical health is to our financial situations. Researchers have even found a direct tie from financial stress to obesity, heart disease and diabetes (http://www.apa.org/helpcenter/money-stress.aspx).
“When people are financially healthy, stress, anxiety and depression are greatly reduced, impacting the overall health of the individual and their household”
– Sara Martin-Fuller, Event Coordinator
“#FinHealthMatters because it allows for a greater quality of life, less stress, and fewer disruptions. When money management aligns with our personal or family values the same income can provide greater satisfaction and allow us to do things that are truly important to us.”
– Thomas Duffany, AFC®, Certification Special Programs Director
“#FinHealthMatters due to ever-changing situations and ups and downs when it comes to finances. I believe an unhealthy financial life can result in issues in other areas of your life. You can be financially unhealthy and it can physically begin to impact you and vice versa.”
– Judy Obiofuma, Post Certification Coordinator
When people are financially secure, they are less susceptible to fraud and predatory practices and are better able to positively contribute to their communities and our economy at large. With growing racial and gender wealth gaps, financial health is essential to building a more equitable society and eliminating those disparities.
“Financial health creates awareness for individuals from all economic backgrounds and the realization that they can realize social and economic empowerment. By having that awareness and taking control of your financial situation, you can enhance your health financially and physically.”
–Ashlee Abraham, Certification Program Coordinator
Ultimately, financial health provides opportunity and hope:
“For me, there’s nothing more valuable than the peace that comes from being financially healthy. When you have a plan, and you know you have enough, you can maneuver through whatever life throws your way”
– Michelle Starkey, Certification Programs Director
“Financial health matters because it allows individuals and families to dream about life goals. By implementing a monthly budget and having control over where your money goes, those goals can be accomplished!
– Katie Tornow, Director of Finance and Operations
At AFCPE, we believe in the power of financial health, and we envision a future where all people — regardless of income or background — have the opportunity to achieve lasting financial wellbeing. Our mission is to support, connect and certify diverse professionals who are on the front lines of helping us realize this goal. By setting the highest standard for this field, we believe all people will have the opportunity to achieve financial health and make a meaningful contribution to this world.
Rebecca Wiggins, Executive Director, AFCPE