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FINANCIAL WELLBEING
Building Financial Literacy
Welcome to our webpage on financial literacy in the UK for Nigerian doctors. As a Nigerian doctor living and working in the UK, it's essential to have a good understanding of the UK financial system, taxes, banking, credit, and investments. Being financially literate can help you make informed decisions, plan for your future, and achieve personal and professional success. This webpage is designed to provide you with an introduction to financial literacy and explain why it's crucial for Nigerian doctors in the UK to have a solid foundation in financial literacy. We will cover the basics of the UK financial system and provide helpful resources and tips to help you manage your finances effectively.
The link between money and mental and physical health is well established.
What is Financial Wellness?
Financial wellness refers to the state of an individual's overall financial health and well-being. It encompasses various aspects such as the ability to manage expenses, save and invest for the future, maintain a good credit score, and have sufficient insurance coverage. Financial wellness is not just about having enough money; it's about having a sense of security and control over one's finances, as well as the ability to achieve financial goals and withstand financial shocks. Achieving financial wellness requires a combination of knowledge, skills, and behaviors that enable individuals to make informed financial decisions, manage their finances effectively, and plan for the future.
"Financial wellbeing refers to a state of being where an individual has a sense of security and financial stability, with the ability to manage current and future financial obligations and goals, without compromising on their overall well-being."
The UK Financial System.
This article provides an overview of the UK financial system, including its structure, regulation, and key institutions. The UK financial system is a complex and highly regulated network of financial institutions and markets, essential to the functioning of the UK economy. The article discusses the three main components of the UK financial system, its regulatory landscape, and key financial institutions that play significant roles in the system. Understanding the UK financial system is essential for professionals, such as Nigerian doctors working in the UK, to be financially literate and make informed financial decisions.
Tools and Resources to support your financial wellbeing
eLfH - All Our Health: Financial wellbeing
This is a bite-sized session to give health and care professionals an overview of financial wellbeing - including key evidence, data and signposting to trusted resources to help prevent illness, protect health and promote wellbeing.
Financial Wellbeing Article from NDUK
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