What are the Benefits of Financial Healing Strategy?

[Suba]

Financial healing is a new financial concept/strategy that is widely applied by young people or GenZ, which emphasizes more on psychological and emotional concepts, which may occur due to bad past experiences, such as shopping hobbies, being too wasteful, having lots of debt, etc. which shows a relationship between mental/psychological health and finances. Financial healing often accelerates behavioral changes, becoming more realistic and gradual in making budgets but unlike conventional methods that emphasize more on numerical goals and targets.

Here are some concepts/strategies that are often adopted by GenZ such as:
- Finances are managed according to their lifestyle.
- Diligently record cash flow, to increase awareness of better financial management
- Changing the mindset of Getting Rich Quick to Strong Finances. etc.,

 

[Augusta]

it lead to a clearer understanding of one's financial situation, improved cash flow management, and the ability to set and achieve financial goals.

 

[Springtime]

This is the first time I heard of this term. I think it is a training of mentality on how to change the behavior of mismanaging personal finance such as spending more than you earn. No savings habit. and no financial goal.

 

[Augusta]

Having a clear financial plan helps individuals make more informed decisions about spending, saving, and investing, reducing the risk of impulsive or detrimental choices.

 

[Kross]

Financial healing can set one on path to overcome mental issues that have to do with finances and advance their lives to be more productive.