What is wealth?

Macquarie Dictionary defines wealth as 'a large store of money and property' or 'a rich supply'.  For most of us it is a term we use in describing others, rather than ourselves.

The Wealth Academy certainly acknowledges this definition as it is one that is used globally with a common understanding. However, we at The Wealth Academy take this definition further. Not only do we see 'wealth' in terms of external possessions - money, assets; but we also see it as internal possessions - attitude, integrity, health in all of its dimensions.

This is a perspective that has had significant growth in recent years as we all look for financial and health prosperity in our lives.

It is on this belief that The Wealth Academy brings service to the community.  

What is the wealth-health relationship? 

The wealth-health relationship is based on balance. It is a balance that pivots toward one way at specific times in our lives, and toward the other end at other times. We all know that every day we answer questions silently, as individuals, about this relationship. 

  • Do we stay at work, or get home to be with the family?
  • Do I buy this new plasma television, or place the money in some shares?
  • Do I invest in my children learning about financial literacy or let them learn the hard way through experiences with credit card debt?
  • Do I model spending too much money on unhealthy food or demonstrate good habits to my children?

The questions are endless. Our answers may be different based on our education, our culture, our values, our existing prosperity.

Ralph Waldo Emerson, the famous philosopher stated "the first wealth is health". I think the most wealthy of people would agree with this statement, especially those who have not maintained healthy habits while pursuing their fortune. For those in the community wanting greater financial prosperity it is ridiculous to think that they could do this long-term and effectively unless their health, in all of its dimensions, was balanced positively.

Charles Caleb Colton stressed that " wealth after all is a relative thing since he that has little and wants less is richer than he that has much and wants more". This statement also raises questions of wealth-health balance  

Andrew Young concluded "that wealth is a state of mind, and that anyone can acquire a wealthy state of mind by thinking rich thoughts". 

A very historic statement from roman times further questions the balance of wealth-health. I am sure you remember when Titus Maccius Plautus said, "Where there are friends there is wealth".

All of which is interesting for those who may have financial capability, and perhaps patronising if you are trying to pay the bills.

The Wealth Academy brings this relationship to the fore. From young children in primary school, through secondary education and then into the workforce, The Academy instigates discussion around this relationship. While wealth is always the priority focus, health is never far behind.

We strive to bring financial and health literacy to the lives of young people, but we also strive to take this further to a level of 'capability'. 

THE WEALTH ACADEMY: We support those who value financial education