{"id":15462,"date":"2024-02-05T08:40:00","date_gmt":"2024-02-04T21:40:00","guid":{"rendered":"https:\/\/bethere.p4.clientcommunity.com.au\/staging\/insights\/managing-your-financial-health\/"},"modified":"2024-02-05T08:40:00","modified_gmt":"2024-02-04T21:40:00","slug":"managing-your-financial-health","status":"publish","type":"post","link":"https:\/\/bethere.p4.clientcommunity.com.au\/staging\/insights\/managing-your-financial-health\/","title":{"rendered":"Managing your financial health"},"content":{"rendered":"<div>\n<h3>Understanding financial health<\/h3>\n<p>Financial health is an important part of our lives. When we take care of our financial health we can better manage financial stress and achieve our financial goals.<\/p>\n<\/p>\n<p>Financial health is made up of three components:<\/p>\n<ul>\n<li>the ability to meet everyday commitments like paying your bills and making loan repayments<\/li>\n<li>the resilience to cope with and recover from unexpected financial events, like your car breaking down or losing your job<\/li>\n<li>putting yourself in a position to plan for the future and pursue your goals.<\/li>\n<\/ul>\n<p>When we maintain good financial health we\u2019re in a better position to handle life\u2019s ups and downs.<\/p>\n<p><strong>How we can help<\/strong><\/p>\n<p>We can help you build your financial health and better understand your finances.<\/p>\n<h3>Start saving<\/h3>\n<p>Once you know what you\u2019re spending your money on, you can focus on saving.<\/p>\n<p>You can do this by setting up a\u00a0savings goal using an app.<\/p>\n<p>If you\u2019re just getting started, we\u00a0can help you reach your savings goals.<\/p>\n<h3>Understand credit and your creditworthiness<\/h3>\n<p>If you\u2019re considering credit, it\u2019s important to understand\u00a0what credit means, the different types of credit and how to manage it.<\/p>\n<p>It\u2019s also important to be aware of your\u00a0credit rating\u00a0and your\u00a0creditworthiness.\u00a0The better your creditworthiness, the more ways you\u2019ll have to get ahead financially.<\/p>\n<h3>Use your credit card effectively<\/h3>\n<p>Credit cards can be confusing, so make sure you understand\u00a0how they work. It\u2019s also important to know about your credit card\u00a0limit,\u00a0fees\u00a0and\u00a0interest.<\/p>\n<p>You should set up a\u00a0notification\u00a0to let you know when you\u2019re approaching your limit.<\/p>\n<h3>Buying a home<\/h3>\n<p>Buying your first home is a huge step.<\/p>\n<p>Use a\u00a0borrowing calculator\u00a0to estimate how much you could afford and what your repayments would be.<\/p>\n<p>If you already have a home loan, here are some practical\u00a0<a href=\"https:\/\/www.nab.com.au\/personal\/life-moments\/home-property\/pay-off-home-loan\/pay-off-faster\" target=\"_blank\" rel=\"noopener\">tips to help you pay off your home loan quicker<\/a>.<\/p>\n<h3>What to do when you\u2019re experiencing financial hardship<\/h3>\n<p>If you\u2019re experiencing\u00a0financial difficulty, there are ways to get back on top. We know it can be hard to pick up the phone \u2013 you might feel awkward, embarrassed or stressed. But we understand that sometimes things are outside your control, such as illness or suddenly losing your job.<\/p>\n<p>We\u2019re not here to judge \u2013 we\u2019re here to help.<\/p>\n<p><small>Source: <a href=\"https:\/\/www.nab.com.au\/personal\/life-moments\/manage-money\/money-basics\/financial-health\" target=\"_blank\" rel=\"noopener\">NAB<\/a><\/small><\/p>\n<p>Reproduced with permission of National Australia Bank (\u2018NAB\u2019). This article was originally published at https:\/\/www.nab.com.au\/personal\/life-moments\/manage-money\/money-basics\/financial-health<\/p>\n<p>National Australia Bank Limited. ABN 12 004 044 937 AFSL and Australian Credit Licence 230686. The information contained in this article is intended to be of a general nature only. Any advice contained in this article has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice on this website, NAB recommends that you consider whether it is appropriate for your circumstances.<\/p>\n<p>\u00a9 2023 National Australia Bank Limited (\u201cNAB\u201d). All rights reserved.<\/p>\n<p>Important:<br \/>\nAny information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author. Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents\/information contained within the linked site(s) accessible from this page.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Understanding financial health Financial health is an important part of our lives. When we take care of our financial health we can better manage financial stress and achieve our financial goals. Financial health is made up of three components: the ability to meet everyday commitments like paying your bills and making loan repayments the resilience &#8230; <a title=\"Managing your financial health\" class=\"read-more\" href=\"https:\/\/bethere.p4.clientcommunity.com.au\/staging\/insights\/managing-your-financial-health\/\" aria-label=\"Read more about Managing your financial health\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":15463,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/articlefeedsite.p3.clientcommunity.com.au\/wp-content\/uploads\/2024\/01\/Managing_your_financial_health.png","fifu_image_alt":"Managing your financial health","footnotes":""},"categories":[5],"tags":[],"class_list":["post-15462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Managing your financial health - BE THERE<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Managing your financial health - BE THERE\" \/>\n<meta property=\"og:description\" content=\"Understanding financial health Financial health is an important part of our lives. When we take care of our financial health we can better manage financial stress and achieve our financial goals. Financial health is made up of three components: the ability to meet everyday commitments like paying your bills and making loan repayments the resilience ... 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