How to Achieve Financial Wellness?

By admin • January 29th, 2009

According to the AAMC www.aamc.org (Association of American Medical Colleges), Financial Wellness

is achieved through:

Knowledge of the basic principles of money,

Ability to make financial decisions based on facts and sound reasoning and a fully developed and well

balanced plan for managing one`s financial LIFE that is integrated with personal values and goals.

It goes on to list five (5) Financial Competencies that need to be Mastered, and they are:

1. Identifying Values About Money

2. Identifying and Understanding the Concept of Goal Setting

3. Creating and Maintaining a Budget

4. Understanding Credit and Cost of Borrowing

5. Understanding the Mechanics of Earning and Saving Money

We sincerely ought to thank the AAMC for its thoughts on Financial Wellness. In these uncertain times

especiallly when the world is supposedly facing a financial and economic crisis, any advice on how

one can achieve financial wellness will certainly be well received.

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