2.1.2.F1
©TakeChargeToday–August2013–MoneyinYourLife–Page2
FundedbyagrantfromTakeChargeAmerica,Inc.totheNortonSchoolofFamilyandConsumerSciencesTakeChargeAmericaInstuteatTheUniversityofArizona
FW‐B
Do you feel posive about your financial situaon
compared to others around you?
Feelingaswell‐offasyouperceivethepeoplearound
you(classmates,friends,family)canimpactyour
financialwell‐being.
Imaginehowyourwell‐beingwouldbeaffectedifyoudidn’thavemoney.Financialwell‐beingaffectsoverallwell‐being.
Therefore,itisimportanttohavehighfinancialwe
ll‐being.
How can you create a sense of high financial well‐being for yourself? Havingmoneydoesmaer.However,happiness
levelsrisefastestasapersonmovesfrombeinglow‐incometomiddleincome.Aerthataperson’shappinessincreases
withmoremoney,butatamuchslowerrate.Forexample,apersonearning$80,000peryearmaybehappierthan th
e
personearning$40,000peryear,butthepersonwhoearnsmoreisnotdoublyhappy.Aerapersonearnsenough
moneytopayforlivingnecessies,itisnotsomuchtheamountofmoney,butwhatthepersonchoosestodowiththe
moneythatincreaseswell‐being
.Managingmoney welliscricaltoincreasingaperson’sfinancialwell‐being.
Inaddiontomanagingmoneywell,anindividualmustunderstandtheirfeelingsaboutmoneytoachievehighwell‐
beinginthefinancialdomain.Thinkbacktothefactorsthatcontributetooverallwell ‐being:aposiveoutlook,loving
whatyoudo,asenseofaccomplishment,involvementinhealthyrelaonshipsandfindingmeaninginlif
e.Let’s
considerhowthesefactorscontributetohighfinanci a l well‐being:
Do you have posive feelings about the way you manage
your money?
Whatevertheamountofmoneyyouhavetomanage,a
sensethatyouaremanagingitwiselycontributestoyour
happinesslevel.Financialcapabilityinvolvesboth
knowledgeaboutmoneyandtheabilitytouseitto
accomplishlifegoals.Yoursenseofyourfinancial
capabilitycanaffectyourwell‐being.E
ducangyourself
aboutfinancialconceptsisaposivesteptowards
creanghighwell‐being.
Are you in healthy relaonships with posive
communicaon about money?
Communicaonregardingmoneycontributes
significantlytowell‐beingespeciallywhenmonetary
resourcesareshared.
Whodoyousharemoneywith?Howcanyou
posivelycommunicateaboutmoneywiththat
person?
Do you feel posive about having enough money to cover
basic needs?
Apersonwhocanmeetbasicneedssuchasfoodand
shelterwithoutstrugglingwilllikelyhavehigherwell‐
being.
Whataretwofinancialtopicsyouwouldliketo
learnmoreabout?
1.
2.