Financial Fitness Tips

People spend a large amount of time, money, and resources on achieving and maintaining physical health and fitness. Gyms have specific marketing seasons (around January each year) where they aim to attract new customers who are interested in improving their physical health.


But you never see financial organizations talking about financial fitness. Being financially fit is just as important as physical fitness. Gyms tout the ability to focus on fitness goals by improving your motivation and dedication. And it works! Ironically, these same tips and tricks can be applied to achieving financial fitness.


Create a Fitness Plan
As each person’s physical fitness journey varies, so does their financial fitness journey. The best results come to those who are completely dedicated to maintaining a structured regimen. Develop a routine by creating a budget. Outline your most important expenses and set goals for saving each week and month. If you need help, reach out to a financial advisor who may be able to help identify areas of opportunity and keep you focused on your end goal.


Find an Accountability Partner
Have you heard of a workout buddy? A person who you keeps you focused and motivated on the days when you’d rather be at home on the couch. This same type of person is a great partner in keeping you accountable for your budget, spending, and savings goals. Whoever this person is, ask them to encourage you to bring your lunch at least three days each week, carpool, and reconsider any unnecessary purchases while keeping that larger end goal in mind.


Meal Planning
If you think planning your meals may seem like something that only applies to physical fitness, then you’d be wrong. Creating a weekly meal list, including lunches and snacks, can help keep your food costs at an all-time low. When you reach a financial milestone, similar to a fitness milestone, celebrate with a meal out with friends. Limiting your dining-out experiences will make those moments more special and keep your budget on track.


Be Patient.
Just like dropping a few pounds, becoming financially fit takes time. Once you decide to create a budget, change your spending habits, and improve your credit you know you are on the right track. But you won’t start seeing differences right away. In fact, you may become frustrated and want to quit altogether. Becoming financially fit takes effort and determination that is sure to pay off down the road. Be patient—you’ll get there!


Taking the time to acknowledge the need for financial fitness means that you’re on the right path. Those around you will start to notice and likely follow in your footsteps. Remember those moments to give yourself a boost when you need it most. Contact EmployeeMoney to help relieve any unexpected financial emergencies without straying from your financial fitness journey.