We talk a lot about work-life balance but there are actually at least five essential elements to feeling like your life is in harmony and functioning well.

Scientists from Gallup have spent decades studying the science of human wellbeing and what constitutes a life well lived.

As part of this research into human well-being, they conducted a comprehensive global study covering more than 150 countries and asking hundreds of questions about health, wealth, relationships, careers, and overall well-being.

The results led them to a theory of the ‘5 Essential Elements of Wellbeing’; that there are five universal elements of well-being that differentiate a thriving life from one spent struggling.

These are the critical aspects that we should pay attention to if we want to feel like our lives are in balance and also thrive. If one area of well-being is in trouble, it frequently has a negative flow-on effect to the other others.

So, what are the 5 Essential Elements of Well-being?

  • Career well-being – How you occupy your time, make a living, and what you spend most of your time doing.
  • Social well-being – Having strong relationships, interpersonal connection and love in your life.
  • Financial well-being– How you are managing your financial life and your overall economic well-being.
  • Physical well-being– Having the good health and energy to get through your day and feel well.
  • Community well-being -- Do you have a strong community where you live that you feel engaged and connected with?

The researchers found that, globally, while 66% of people are doing well in at least one of these areas, just 7% are thriving in all five.

How many do you feel like you are thriving in right now? Can you clearly identify one problem area that definitely needs work? If one stands out strongly, beginning with focusing on what you can do to improve things in this area is a great idea, as it will likely lead to progress in other areas too. Because when we're struggling in any one of these domains, as many of us are, it damages our well-being and has a negative impact on our daily life. When we strengthen our well-being in any of these areas, we can improve our overall well-being.

For example, when we think about caring for our financial well-being, we can see that our decision to save for retirement, for example, will impact our overall well-being long-term. It will give us more freedom to choose the community we live in or to do things that help us maintain our physical health.

In September, we have a program starting under our Money Coaching services called Thrive HQ, which can help you thrive in life all around. We’ll be focusing first on career issues. Get in touch if you’d like to find out more!

Need help caring for your financial well-being? Callus anytime on (02) 8268 2900 for an obligation-free chat.

Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Please consider whether the information is appropriate to your circumstance before acting on it and, where appropriate, seek professional advice.