How We Work
Financial Wellness and Psychology can assist the financial industry and community with the below applications to improve financial wellness. Financial wellness is important as it will provide life choices to achieve goals and improve mental health.
- The use of psychological theories and interventions to prevent unhealthy behaviours, such as overspending, gambling or workaholism.
- Promoting and protecting financial behaviours by encouraging healthy behaviours such as understanding risk, having an emergency account and retirement planning.
- Addressing finance-related cognitions and the processes used to explain and justify finance-related behaviour, in a way that promotes changes towards positive behaviour.
- Addressing processes in the finance industry, such as the communication between finance professionals and clients to facilitate adherence to their financial plan, budgeting and wealth management.
- Investigating the psychological aspects of debt and other financial challenges on clients and their support network.
- Educating the community including young people and adults on financial literacy and financial behaviour.