What does being healthy mean to you?

An organic diet based on superfoods? Thirty minutes exercise a day? Having a loving and vibrant sex life? Being in tune with your environment?

Few of us would argue with the worthiness of these life goals, even if we could wear ourselves out trying to achieve them all. But there’s one thing often left off the list. Money. Before you cry ‘boring’ and head off to another page, remember this. Your psychological wellbeing is inextricably tied to your financial security.

So how about giving your finances a quick health-check? Start by answering the following questions:

1. Do you have enough savings to cover at least 3 month’s expenses?
2. Do you pay off your credit card bill in full every month?
3. Have you got a pension?
4. Do you avoid shopping when you’re stressed, down or just bored?
5. Do you find it easy to talk about (or ask for) money?
6. Do you know how much you spent last month and what on?
7. Do you have a basic understanding of the money world

How did you do?

Seven Yes’s and you’re a super Sheconomist.  Good for you.

Less than seven? Feeling that prickly sense of unease that comes with thinking about the unthinkable?  Believe me you’re not alone.

As a psychologist with an interest in women’s relationship with money (one that’s way more emotional than men’s) I’ve come across hundreds of women who are sorted in every area of their life. They’re intelligent, fit, professional, right-on women - but their finances are a disaster zone.

Why do so many women wear money blinkers? Maybe because the finance world is littered with male-friendly jargon guaranteed to alienate any woman who hasn’t got a heart of steel. And, OK, maybe we were rubbish at maths at school and let that hang on in a belief that we cant ‘do’ money. Our mums may not have been great role models either. Many came from a generation that left money matters to men. Plus there are just so many gorgeous things out there to tempt us, and ad-men telling us we’re worth it…. and the plastic fantastic means we can have it now and pay later.

My research has shown that almost eight out of ten women go shopping to cheer themselves up. Men have other ways. I’ve never really seen how a football match can do the same job, but it’s a darn sight cheaper. And while we’re queuing for the changing room, cruising the rails or elbowing our way to the till, men are out there getting the best financial deals.

That means when we reach out dotage it’s the men who’ll be stashing the cash from their investments and getting better pensions. If they’re still around, that is, because more women today are likely to be living alone when older as we live longer than men (and divorce is on the increase). So we need to be doing something now to make sure that buying that designer handbag today doesn’t mean we’ll end up a bag lady tomorrow.

Let’s face it, we all have emotional ups and downs. And the power of retail therapy to generate joy when life is grim can’t be ignored. But managing your mind is key to managing your money. If you’re the type who heads to the high street in a crisis and sees shopping as retail prozac, try to swap the shopping habit for something healthier. Get a new hobby, relationship or more fulfilling job if necessary. Even walking can do wonders; it’s a great way to boost self-esteem. And women with higher self-esteem are less likely to be compulsive shoppers. And therefore less likely to be manipulated by clever marketers or demanding kids.

If you want to give your finances a good makeover this year, my book Sheconomics (co-authored with financial coach and monetary whiz-kid Simonne Gnessen) is packed full of tips. It also demystifies the world of finance in dead simple language that anyone can understand. You certainly don’t need even GCSE maths to fathom the stuff in there.

Meanwhile, here are a few steps to take now to bring your finances back to fitness:

1. Save automatically. Sweep an amount every month straight into a savings account. You won’t miss what you didn’t have and you’ll have a back-up fund in case of emergencies.
   
   
2. Do the pension thing now. If your employer runs a scheme, jump at it. Every day you’re not in it you’re turning down free money. If not, get independent advice on how you can start your own pension. It needn’t cost the earth but the earlier you start the bigger the payout.
   
   
3. Be aware. Face up to debts. Stop hiding statements and start opening them. Know where your money goes. Try tracking your spending for a month. Note down those emotional triggers, then spot the danger signs next time.
   
   
4. Wise up. Look at financial sites that demystify money (e.g. www.moneymadeclear.fsa.gov.uk) or read Sheconomics. Take a peek at the financial pages or just ask someone to explain the basics to you. If you only do one thing, suss out how compound interest works. It’s the magic component that makes your savings swell – and your debts too.

Add financial health to all the other healthy activities that make up that feel-good factor. Then you can get on with enjoying life today knowing that tomorrow’s taken care of.

Karen Pine is Professor of Developmental Psychology at the University of Hertfordshire. Sheconomics by Karen Pine and Simonne Gnessen is published by Hodder Headline, price £7.99.