This week is Men's Health Week (15th to 21st June), which serves as a useful reminder to pay attention to something many men tend to ignore until absolutely necessary: their own wellbeing, spending more time working and less time caring for their health and overall wellness.
According to NHS data, more than one in eight men in England live with a mental health disorder, with financial worries often playing a role in the underlying causes.
At the same time, research from Fidelity found that while 63% of UK men feel confident managing day-to-day finances, only 35% feel confident about saving for the future.
Which perhaps explains why many people feel financially “fine” right up until they start thinking about retirement, long-term security or what would happen if life suddenly became more complicated.
The good news is that improving your financial wellbeing does not necessarily require dramatic change.
Here are three practical ways to improve both your financial fitness and your overall wellbeing.
1. Give yourself a health and wealth MOT
Most people understand the value of a regular health check-up, particularly as they get older. Yet far fewer give their finances the same level of attention.
A financial review does not need to involve spreadsheets worthy of an accountant or a six-hour deep dive into pension statements you’ve been avoiding since 2017.
Sometimes, it simply means stopping long enough to ask:
- Are you saving enough?
- Do you know where your money actually goes each month?
- Are your investments still aligned with your goals?
- If something unexpected happened tomorrow, would your family be financially secure?
A personalised financial plan can also help bring far more clarity, confidence and structure to your long-term goals.
2. Focus on small wins that actually stick
Whether you are trying to improve your fitness or your finances, extreme plans tend to last roughly the same amount of time as a New Year’s gym membership.
The people who usually make lasting progress are the ones who focus on consistency instead. Financially, that often starts with understanding your spending habits properly.
Knowing where your money goes can not only help you make confident choices, but it may also highlight areas where you could be making savings. Once you understand where your money is going, you can start making small adjustments that gradually build momentum.
That might mean reviewing unnecessary spending, setting up a regular monthly savings transfer, increasing pension contributions slightly or investing excess cash rather than leaving it idle.
Importantly, having a clear financial plan often reduces stress too. There is a huge psychological difference between feeling uncertain about money and knowing you have a structure in place.
3. Have a back-up plan
Nobody particularly enjoys thinking about worst-case scenarios, but one of the most practical forms of financial planning is making sure your household could cope if life suddenly became more difficult. Even if you’re lucky enough to enjoy peak physical health, it’s sensible to have a back-up plan.
Start by asking yourself three key questions:
- What would happen if you had an accident, fell ill, or lost your job?
- Could you and your family maintain a roof over your heads if the worst happened?
- What do you want to happen to your wealth when you die, and are your wishes known?
Protection policies are not especially exciting dinner party conversation, but they can become incredibly important at exactly the moment you need them most.
Income protection insurance could help replace lost earnings if illness or injury prevented you from working. Critical illness cover may provide financial support following a serious diagnosis. Life insurance can help ensure your family maintains financial stability if you were no longer around.
For many households, particularly where one person is the primary earner, these protections form an important part of long-term financial security.
Men’s Health Week feels like a good excuse to start paying attention to both your physical and financial wellbeing. Ideally before someone books a GP appointment for you on your behalf.
Get in touch
If you’d like to improve your financial fitness or review your long-term plans, we’re here to help. You can contact us by emailing financialplanning@titanwci.com or calling us on 01534 724241.
