Plan for happiness

Financial health and mental health are often inextricably linked. Taking a longer term approach to your finances can give you comfort now and success in the future, as Ryan Sealey explains

You would have seen that it was recently Mental Health Week. It’s fantastic to see the enormous effort that is going in to creating awareness and acceptance around mental health issues.

The coverage across all of the traditional media, like TV, newspapers and radio was extensive and constructive.

There was also an incredible amount of coverage across social media, bringing individual stories to light and uniting different communities together to tackle the issue.

For the most part though, elements of my social media looked pretty much the same as always – countless photos of people “living their best life.”

Going off this, you might think that the rest of the world is living a life of endless holidays, great meals, fantastic cars and expensive fashion.

Most of us are sensible enough to know that this isn’t anywhere near the full picture. But at the same time, bombarded by the constant stream of glittering images, it is difficult not to conclude that we might need a bit more stuff just to keep up.

In my job as a financial adviser though, I get regular reminders of the real picture.

Except for a very lucky few, having the financial freedom to “live your best life” is almost always a longer game.

The vast majority of people who got there, did so because they set goals and stuck to a plan to achieve them. The successes we get to see are the result of a reasonably structured approach.

The other side is those that haven’t had a structure in place. A larger impulse purchase here, or a bit of bad luck there, can eventually lead to some reasonably significant stress.

In these cases, the important message here is twofold.

Firstly, there’s nothing to be embarrassed about. Having a period of financial stress is common and can happen to the best of us.

What is important is dealing with it. Don’t be worried about reaching out for some guidance. It’s surprising how having some experience on your side can take the heat out of a problem.

Secondly, the vast majority of financial problems can be fixed. And again, the approach is exactly the same as it is for people in good financial shape – set realistic goals and have a plan in place.

In my experience, if you take this simple approach, the odds are that you’ll get there.

If you would like advice about getting into good financial shape don’t hesitate to contact us by phone on 03 5557 3355 or using the contact form

Ryan Fennell, Shane West and Jarrod Owen of The Fennell West Unit Trust trading as Fennell West are Authorised Representative(s) of GWM Adviser Services Limited ABN 96 002 071 749, an Australian Financial Services Licensee, Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia group of companies. Licensee No. 230692. Any advice in this article is of a general nature only and has not been tailored to your personal circumstances. Before acting on this advice, you should consider whether it is appropriate having regards to your personal objectives, financial situation and needs.