8 Dimension of Wellbeing & Values Based Advice [Getting Started]

8 Dimension of Wellbeing & Values Based Advice [Getting Started]


What are the 8 Dimensions of Wellbeing?

The 8 Dimensions of Wellbeing are:

  1. Emotional wellbeing: The ability to manage and express emotions in a healthy way.
  2. Intellectual wellbeing: The ability to engage in creative and stimulating mental activities.
  3. Physical wellbeing: The ability to maintain a healthy body through exercise, nutrition, and rest.
  4. Social wellbeing: The ability to form and maintain positive relationships with others.
  5. Occupational wellbeing: The ability to find satisfaction and fulfillment in one's work.
  6. Environmental wellbeing: The ability to live in a clean and safe environment.
  7. Spiritual wellbeing: The ability to have a sense of purpose and meaning in life.
  8. Financial wellbeing: The ability to manage and be comfortable with one's financial resources.

These dimensions are interconnected and can influence each other. A person who is physically unwell, for example, may struggle with their emotional or occupational wellbeing. It's important to address each dimension to achieve overall wellbeing.

What is Values Based Advice?

Values-based advice is a type of approach to providing financial advice that centers around a client's personal values and beliefs. It is an approach that prioritizes understanding the client's values and goals before making any financial recommendations or decisions.

In this approach, the financial advisor spends time exploring the client's priorities, goals, and values to understand what is important to them. Once the advisor has a clear understanding of the client's values, they can use this information to help the client make financial decisions that align with their values and support their goals.

Values-based advice can cover a wide range of financial topics, including budgeting, saving, investing, and estate planning. The goal is to help clients make decisions that not only make sense financially but also align with their values and beliefs.

Values-based advice is becoming increasingly popular as clients are looking for advisors who can provide a more holistic approach to financial planning that takes into account their individual needs and preferences. By prioritizing a client's values, advisors can build stronger relationships with their clients and help them achieve financial success while staying true to their personal beliefs and values.

Using the 8 Dimensions of Wellbeing to understand client Values

Values-based advice can be connected to the 8 Dimensions of Wellbeing as it prioritizes understanding and aligning with a client's personal values and beliefs, which can impact multiple dimensions of wellbeing. Here are some ways that values-based advice can be connected to the 8 dimensions of wellbeing:

  1. Emotional wellbeing: Values-based advice can help clients make financial decisions that reduce stress and anxiety, which can positively impact emotional wellbeing.

  2. Intellectual wellbeing: By aligning financial decisions with a client's personal values and beliefs, values-based advice can help clients feel more engaged and interested in their financial plan, which can positively impact intellectual wellbeing.

  3. Physical wellbeing: Values-based advice can help clients make financial decisions that support their physical health, such as investing in a gym membership or prioritizing healthy eating.

  4. Social wellbeing: By understanding a client's values around relationships and community, values-based advice can help clients make financial decisions that support positive social connections and a sense of belonging.

  5. Occupational wellbeing: Values-based advice can help clients make financial decisions that align with their career goals and values, which can positively impact occupational wellbeing.

  6. Environmental wellbeing: By understanding a client's values around sustainability and environmental responsibility, values-based advice can help clients make financial decisions that align with their environmental goals.

  7. Spiritual wellbeing: Values-based advice can help clients make financial decisions that align with their personal sense of purpose and meaning, which can positively impact spiritual wellbeing.

  8. Financial wellbeing: Ultimately, values-based advice is aimed at helping clients achieve financial success while staying true to their personal values and beliefs, which can positively impact overall financial wellbeing.

Take a deeper look into the 8 Dimensions of Wellbeing by accessing our Product Guide; Understanding the 8 Dimensions of Wellbeing [Product Guides]