The importance of financial wellness

As we kick off Financial Wellness Month, it’s time to shine a spotlight on a crucial aspect of our lives: our financial health. This dedicated month serves as a reminder of the importance of financial literacy, smart money management, and the overall impact and importance of financial well-being on our quality of life.

Why financial wellness matters

Financial wellness goes beyond just having money in your accounts. It encompasses a holistic approach to managing your finances, including:

• Understanding your current financial situation and how to improve it.
• Setting realistic financial goals.
• Developing and sticking to a budget or spending plan.
• Managing debt effectively.
• Planning for the future, including retirement.
• Building an emergency savings.

When we work towards financial wellness, we reduce stress, improve our mental health, and open up more opportunities for personal growth and life experiences.

The power of financial education

Financial education is a key aspect of building financial wellness. When you achieve financial wellness, the benefits extend beyond themselves, impacting your families and communities. Financial education can help you make better-informed decisions about spending, saving, investing, and managing debt. Understanding finances can help build emergency funds, save for retirement, and achieve lifelong dreams. It also provides a sense of control and confidence, allowing you to feel empowered when making financial decisions.

Resources for financial education

Centra offers a variety of financial education resources for both our Members and our Team Members!

Did you know Centra has an entire team dedicated to financial education and empowerment? Centra’s very own Onward team has made it their mission to provide Members with free financial education to support them on their path to financial empowerment. The Onward team hosts group workshops and virtual coaching sessions to help our Members and those in our Communities better understand their finances and reach their goals.

We also offer certified financial counselors at every Centra location. We have 80 Team Members who’ve achieved their Certified Credit Union Financial Counselor (CCUFC) designation so they can offer Members and even fellow Team Members guidance on everything from credit counseling to help setting up a budget or spending plan.

Another resource is Zogo! This mobile app provides users with more than 350 bite-sized lessons about finances! This lets users learn about money on the go and access financial education tools in easy-to-understand modules.

Whether you’re an experienced budgeter or you’re just starting out, everyone’s approach to creating and maintaining financial wellness is unique. At Centra, we want our Members to feel empowered in their finances, creating that strong relationship to build a healthy financial future for themselves and their loved ones. If you’re not sure where to start, visit your nearest Centra location or make an appointment online. You can also visit our Onward page to learn more about our one-on-one coaching sessions.