{"id":76559,"date":"2025-09-05T09:53:54","date_gmt":"2025-09-05T13:53:54","guid":{"rendered":""},"modified":"2025-09-10T14:55:11","modified_gmt":"2025-09-10T18:55:11","slug":"what-is-financial-wellbeing-and-why-it-matters-to-you","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/money-mindset\/what-is-financial-wellbeing-and-why-it-matters-to-you\/","title":{"rendered":"How to Work with Your Bank to Build Your Financial Future"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\"><\/section>\n\n\n\n<p>Your money matters. It impacts your quality of life, your family, and your overall wellbeing. From managing everyday spending and building savings to tackling debt or planning for the future, your bank can play a key role in supporting your success and financial wellness. Take this quiz to discover the best support for you:<\/p>\n\n\n\n<div class=\"cf rbc-wp-quiz-wpr\" data-quiz-type=\"questionnaire\" data-num-questions=\"4\" data-required-questions=\"4\" data-quizzes-dig-id=\"\"><ol class=\"rbc-wp-quiz grid-wpr\"><li id=\"question1\" class=\"grid-inner rbc-wp-quiz-question-wpr \" data-max-answers=\"1\" data-question-dig-id=\"\"><label for=\"whenitcomestofinancialgoalsmybiggestpriorityrightnowis\">When it comes to financial goals, my biggest priority right now is:<\/label><ul><input type=\"hidden\" name=\"questionnaire_gallery\" value=\"[]\"><fieldset role=\"group\" aria-labelledby=\"q_1_label\"><legend id=\"q_1_label\">Choose one:<\/legend><div class=\"radio-wpr\"><input type=\"radio\" id=\"q_1-a_1\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"A\"  name=\"question_whenitcomestofinancialgoalsmybiggestpriorityrightnowis\"><label for=\"q_1-a_1\">a. Spending smarter<\/label><input type=\"radio\" id=\"q_1-a_2\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"B\"  name=\"question_whenitcomestofinancialgoalsmybiggestpriorityrightnowis\"><label for=\"q_1-a_2\">b. Saving more<\/label><input type=\"radio\" id=\"q_1-a_3\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"C\"  name=\"question_whenitcomestofinancialgoalsmybiggestpriorityrightnowis\"><label for=\"q_1-a_3\">c. Paying down debt<\/label><input type=\"radio\" id=\"q_1-a_4\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"D\"  name=\"question_whenitcomestofinancialgoalsmybiggestpriorityrightnowis\"><label for=\"q_1-a_4\">d. Planning for the future<\/label><\/fieldset><\/ul><\/li><div class=\"hr\"><\/div><li id=\"question2\" class=\"grid-inner rbc-wp-quiz-question-wpr \" data-max-answers=\"1\" data-question-dig-id=\"\"><label for=\"whatdoesfinancialconfidencelookliketoyou\">What does financial confidence look like to you?<\/label><ul><input type=\"hidden\" name=\"questionnaire_gallery\" value=\"[]\"><fieldset role=\"group\" aria-labelledby=\"q_2_label\"><legend id=\"q_2_label\">Choose one:<\/legend><div class=\"radio-wpr\"><input type=\"radio\" id=\"q_2-a_1\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"A\"  name=\"question_whatdoesfinancialconfidencelookliketoyou\"><label for=\"q_2-a_1\">a. Feeling in control of my everyday spending<\/label><input type=\"radio\" id=\"q_2-a_2\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"B\"  name=\"question_whatdoesfinancialconfidencelookliketoyou\"><label for=\"q_2-a_2\">b. Building my savings for the future<\/label><input type=\"radio\" id=\"q_2-a_3\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"C\"  name=\"question_whatdoesfinancialconfidencelookliketoyou\"><label for=\"q_2-a_3\">c. Having a responsible amount of debt<\/label><input type=\"radio\" id=\"q_2-a_4\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"D\"  name=\"question_whatdoesfinancialconfidencelookliketoyou\"><label for=\"q_2-a_4\">d. Knowing I\u2019ll be able to retire in comfort<\/label><\/fieldset><\/ul><\/li><div class=\"hr\"><\/div><li id=\"question3\" class=\"grid-inner rbc-wp-quiz-question-wpr \" data-max-answers=\"1\" data-question-dig-id=\"\"><label for=\"ifyouwon500todayhowwouldyouuseit\">If you won $500 today, how would you use it?<\/label><ul><input type=\"hidden\" name=\"questionnaire_gallery\" value=\"[]\"><fieldset role=\"group\" aria-labelledby=\"q_3_label\"><legend id=\"q_3_label\">Choose one:<\/legend><div class=\"radio-wpr\"><input type=\"radio\" id=\"q_3-a_1\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"A\"  name=\"question_ifyouwon500todayhowwouldyouuseit\"><label for=\"q_3-a_1\">a. To cover bills or daily expenses<\/label><input type=\"radio\" id=\"q_3-a_2\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"B\"  name=\"question_ifyouwon500todayhowwouldyouuseit\"><label for=\"q_3-a_2\">b. To top up my savings account<\/label><input type=\"radio\" id=\"q_3-a_3\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"C\"  name=\"question_ifyouwon500todayhowwouldyouuseit\"><label for=\"q_3-a_3\">c. To pay down my credit card<\/label><input type=\"radio\" id=\"q_3-a_4\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"D\"  name=\"question_ifyouwon500todayhowwouldyouuseit\"><label for=\"q_3-a_4\">d. Invest it for a long-term goal<\/label><\/fieldset><\/ul><\/li><div class=\"hr\"><\/div><li id=\"question4\" class=\"grid-inner rbc-wp-quiz-question-wpr \" data-max-answers=\"1\" data-question-dig-id=\"dnl-kX4D3wDnhWGq-5\t\"><label for=\"whattypeoffinancialsupportwouldmakethebiggestdifferencetoyou\">What type of financial support would make the biggest difference to you?<\/label><ul><input type=\"hidden\" name=\"questionnaire_gallery\" value=\"[]\"><fieldset role=\"group\" aria-labelledby=\"q_4_label\"><legend id=\"q_4_label\">Choose one:<\/legend><div class=\"radio-wpr\"><input type=\"radio\" id=\"q_4-a_1\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"A\"  name=\"question_whattypeoffinancialsupportwouldmakethebiggestdifferencetoyou\"><label for=\"q_4-a_1\">a. A tool to help me budget and manage my spending<\/label><input type=\"radio\" id=\"q_4-a_2\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"B\"  name=\"question_whattypeoffinancialsupportwouldmakethebiggestdifferencetoyou\"><label for=\"q_4-a_2\">b. Guidance on how to make saving a habit<\/label><input type=\"radio\" id=\"q_4-a_3\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"C\"  name=\"question_whattypeoffinancialsupportwouldmakethebiggestdifferencetoyou\"><label for=\"q_4-a_3\">c. Strategies to pay off debt faster<\/label><input type=\"radio\" id=\"q_4-a_4\" class=\"rbc-wp-quiz-question rbc-wp-quiz-multi-question\" value=\"D\"  name=\"question_whattypeoffinancialsupportwouldmakethebiggestdifferencetoyou\"><label for=\"q_4-a_4\">d. Advice on how to turn my dreams into reality<\/label><\/fieldset><\/ul><\/li><div class=\"hr\"><\/div><\/ol><div class=\"rbc-wp-quiz-btn-wpr\"><button class=\"btn tertiary anim-boxshadow-short rbc-wp-quiz-results-btn\" >Show My Results<\/button><button class=\"btn no-btn rbc-wp-quiz-reset-btn\" data-reset-dig-id=\"enterprise-kX4D3wDnhWGq-4\">Reset<\/button><\/div><div class=\"rbc-wp-quiz-results-wpr\"><div class=\"rbc-wp-quiz-result grid-wpr \" id=\"result-A\" ><h2 class=\"rbc-wp-quiz-result-heading h4\">Mostly As \u2013 Spend<\/h2><p>You\u2019re ready to take control of your day-to-day spending. Small changes in your habits can help reduce stress and boost your financial confidence. Learn more on <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/budgeting\/mastering-money-tips-for-creating-a-budget-that-works-for-you\/\" data-dig-label=\"creating a budget that works for you\" class=\"rbc-link-format\">creating a budget that works for you.<\/a><\/p>\n<\/div><div class=\"rbc-wp-quiz-result grid-wpr \" id=\"result-B\" ><h2 class=\"rbc-wp-quiz-result-heading h4\">Mostly Bs \u2013 Save<\/h2><p>Financial wellbeing for you comes from watching your money grow and the peace of mind that comes from having funds set aside. Learn more about the <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/budgeting\/the-importance-of-having-an-emergency-fund-3-questions-answered\/\" data-dig-label=\"importance of having an emergency fund\" class=\"rbc-link-format\">importance of having an emergency fund.<\/a><\/p>\n<\/div><div class=\"rbc-wp-quiz-result grid-wpr \" id=\"result-C\" ><h2 class=\"rbc-wp-quiz-result-heading h4\">Mostly Cs \u2013 Borrow<\/h2><p>Debt management is top of mind, but you don\u2019t need to face it alone. A solid strategy can help reduce stress and support your overall financial wellbeing. Learn about <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-loans\/strategies-for-paying-down-debt\/\" data-dig-label=\"learn about strategies for paying down debt\" class=\"rbc-link-format\">strategies for paying down debt<\/a><\/p>\n<\/div><div class=\"rbc-wp-quiz-result grid-wpr \" id=\"result-D\" ><h2 class=\"rbc-wp-quiz-result-heading h4\">Mostly Ds \u2013 Plan<\/h2><p>Your financial confidence comes from having a clear plan for achieving your long-term goals and staying on track. Need help with future goals? Learn why it\u2019s never to early\u2014or too late\u2014to <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/retirement\/planning-for-retirement\/its-never-too-early-or-too-late-to-plan-for-retirement\/\" data-dig-label=\"learn about planning for retirement.\" class=\"rbc-link-format\">plan for retirement.<\/a><\/p>\n<\/div><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-banking-on-success-with-your-bank\">Banking on Success With your Bank<\/h2>\n\n\n\n<p>Financial wellness comes from balancing how you spend, save, borrow and plan for the future. Your bank is here to provide you with the content, tools and resources you need to help build confidence, feel financially secure and reach your goals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-spend\">1) Spend<\/h3>\n\n\n\n<p>When it comes to spending, the equation is simple\u2014but not always easy to execute:&nbsp;<em>spend less than you earn.<\/em>&nbsp;Understanding your spending patterns, emotional triggers, and regular expenses can help you manage money more effectively.&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/mobile\/feature\/nomi\/index.html\" data-dig-id=\"LP-76559-9447415a\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Using budgeting tools\" class=\"rbc-link-format\">Using budgeting tools<\/a>&nbsp;is a great place to start.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-save\">2) Save<\/h3>\n\n\n\n<p>Saving provides psychological security and can boost overall wellbeing. From funding a dream trip to buying a home or investing for the future, putting money aside regularly makes your goals more achievable. Digital platforms like <a href=\"https:\/\/www.rbcroyalbank.com\/investments\/myadvisor.html\" data-dig-id=\"LP-76559-c60566a7\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"MyAdvisor\" class=\"rbc-link-format\">MyAdvisor<\/a> can help you build a plan that meets your needs and helps you reach your goals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-borrow\">3) Borrow<\/h3>\n\n\n\n<p>Whether it\u2019s a home, car, or credit card, having the right borrowing options for your life is crucial. Being smart about how and when you borrow can make your financial journey smoother.&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/personal-loans\/loan-calculators.html\" data-dig-id=\"LP-76559-3d3d3eba\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Loan calculators\" class=\"rbc-link-format\">Loan calculators<\/a>&nbsp;and other tools can help you estimate your payments, see the cost savings of a particular borrowing strategy and more.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-plan\">4) Plan<\/h3>\n\n\n\n<p>Studies show Canadians with a well-thought-out financial plan are more likely to reach their goals. Thinking ahead and having a clear roadmap keeps you focused and on track. Many investors credit their <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/the-complete-guide-to-choosing-a-financial-advisor\/\" data-dig-id=\"LP-76559-e36bdab0\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"financial advisor \" class=\"rbc-link-format\">financial advisor <\/a>with helping them build investment habits and avoiding costly mistakes.&nbsp;<\/p>\n\n\n\n<p>Your financial journey is as unique as you are \u2013 RBC is here to help you prosper every step of the way. Explore more on <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/\" data-dig-id=\"LP-76559-6c78d757\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"My Money Matters\" class=\"rbc-link-format\">My Money Matters<\/a> and speak with an advisor to see<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Your money matters. It matters to you, your quality of life, your family and your overall well-being. Now that you&#8217;re here, explore the many facets of financial wellness and discover ways to help improve your financial health.<\/p>\n","protected":false},"author":112,"featured_media":95515,"parent":57316,"menu_order":0,"template":"wp-custom-template-mmm-sticky-nav","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[77],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[],"rbc_difficulty_level":[33],"rbc_mmm_category":[318,304,369],"class_list":["post-76559","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-personal-finance","rbc_content_type-article","rbc_difficulty_level-beginner","rbc_mmm_category-banking-basics","rbc_mmm_category-money-academy","rbc_mmm_category-money-mindset"],"acf":{"contently_publication_id":"312932","custom_author":"Royal Bank of 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