Financial wellness refers to your overall financial health and your ability to manage financial expenses. Being able to keep track of expenses, make a budget and stick to it are important skills to develop for financial independence. People who experience financial wellness effectively manage their day-to-day and month-to-month finances, pay bills while saving for future goals, and have retirement plans that are on track. Achieving financial wellness involves developing appropriate habits. Those who maintain financial wellness have the freedom to make choices that allow them to enjoy life.