fact checked by JIWON MA. Definition and How to Measure and Improve It What Is Financial Health?
The state of a person’s personal financial affairs is referred to as financial health. The amount of money saved, the amount saved for retirement, and the amount spent on fixed or non-discretionary expenses are just a few of the many aspects of financial health.
Key Takeaways A person’s financial health is measured by the stability and state of their personal finances and financial affairs.
A steady income stream, few changes in expenses, high returns on investments, and a growing cash balance are all typical indicators of good financial health.
You need to look at your current net worth, make a budget you can stick to, set up an emergency fund, and pay off your debts to improve your financial health.
