Home
>
Personal Finance
>
Financial Fitness - Are You Exercising the Right Muscles to become Financially Fit?

Financial Fitness - Are You Exercising the Right Muscles to become Financially Fit?

Are your financial muscles well toned and healthy or flabby and weak? Do you want to change your relationship with money so you can have control over your financial future or do you want to continue to complain that you don't have enough? Exercise these 10 muscles to achieve Financial Fitness.

1. Know your current situation

Putting your head in the sand will only give you an ache in the neck, not control over your finances. Make sure you know exactly how much your total income and expenditure is each month and have a clear picture of what you are spending your money on.

2. Have clear financial goals

How much will you need for next year's vacation? When will you need to buy a new car? How much will it cost to give your children the best education? Write down your short, medium and long term goals and work out how much each will cost, how long you have to save for it and how much you will have to put aside each month in order to get what you want.

3. Maximise your current situation

Do you pay your bills late and suffer charges? Set up a system to pay all your bills on time. Are you paying high interest rates on your credit cards and loans? Take control by shopping around for a better deal. Do you have no idea where the money in your wallet goes? Set up a weekly spending plan to make sure your money goes towards what is important to you.

4. Plug the leaks in your financial bucket

Where are the holes that your money is falling through? By having a clear understanding of what caused your debt in the first place and by not adding to it you can make any adjustments you need to enable you to become debt free. Review your debt situation every 2 months and take full responsibility for the situation you are in today and will experience in the future.

5. Plan for your future

Do you know that you are putting away enough money for your future financial health or are you hoping it will all work out? Find out the current state of your retirement fund and make sure you are putting aside enough money each month to reach financial independence. Review your long-term planning annually to make sure you are on track for where you want to be.

6. Become financially robust

Are there tax returns and financial situations you are ignoring because they are too daunting? The longer you leave them, the more daunting they will become. Don't let small issues become huge icebergs in your life. Clear up your issues one at a time, become aware of financial trends and issues and live within your means.

7. Expect the unexpected

No matter how much you plan, life happens. How much leeway do you have to cope with the unexpected? Aim to have six months living expenses in an interest bearing account, make sure you have all the medical, car and home insurances you need and act quickly to changing circumstances. We know the unexpected will happen - plan for it and you won't have to panic when it happens.

8. Review your financial energy

Understand the concept of the flow of money and how you act around money. Is your relationship with money a childish one that makes you stressed, envious and obsessed with money? Establish an adult relationship with money that allows you to be appropriately generous, understand abundance and to share in the success of others.

9. Check your beliefs

What beliefs were you given by your parents. Are wealthy people mean or 'not like us'. Do you believe that friends and family will no longer like you if you are wealthy or that it's shallow to care about money? What beliefs would you like to pass on to your children? Write them down and start repeating them to yourself every day until you replace your old thoughts with new, helpful and empowering ones.

10. Create the right financial environment

If you go to the gym you expect a certain environment that is conducive to working out. Why does your financial situation not deserve the same attention to its environment? Could you work out effectively if the gym was cluttered, decorated in chintz and was full of everyone sitting around eating chocolate? So why do you expect your financial situation to overcome environmental barriers such as being around people who don't support your commitment to financial fitness, banks that are not easily accessible and going out to places where you know you will overspend? Tidy up your environment and give yourself a fighting chance.

Visit atlantic coaching for your 100-point checklist to becoming financially fit.

Sarah Steele MBA, founder of, works globally with high-achieving professionals who, although successful in their career, aren't as successful as they'd like in other areas of their life. Specializing in helping clients get crystal clear about exactly how they want their life to look, something many struggle with, our clients learn how to say 'no' graciously, freeing up precious time and space for the things they really want to say yes to. Ultimately, it is through more conscious choices and effective systems that clients quickly enjoy greater control and experience more success without sacrificing professional achievements. Sarah is a successful and empowering coach, speaker and trainer with more than a decade of global business experience. Combining deep capabilities in communication skills, change management, and emotional intelligence with her background in Corporate life, Sarah brings a truly globally savvy touch to all.

custom home cleaning Lincolnshire ..

In The News:

Amazon Prime Day shoppers face threats from 120,000-plus scam websites as cybercriminals prepare phishing traps and malware ahead of the July sales event.

Fox News' AI Newsletter brings you the latest on this rapidly evolving technology.

The AEON humanoid robot tackles labor challenges with Nvidia AI, Microsoft Azure cloud and advanced spatial awareness, working alongside industry leaders Schaeffler and Pilatus.

Google's Ask Photos feature brings AI-powered searches to your photo library, letting you find memories with natural language queries while maintaining privacy controls.

The return of blue book exams emerges as universities fight widespread AI academic dishonesty and educators debate whether to ban AI tools or teach responsible usage.

Signs your phone might be hacked include strange behavior, unauthorized texts, battery drain and pop-ups, while protection involves updating software and avoiding public Wi-Fi.

Tokyo startup H2L has launched Capsule Interface technology enabling full-body robot control with muscle sensors, offering immersive remote operation.

The A.I. industry seems set for growing pains as Big Tech companies scramble for solutions to the medium's unprecedented strain on the power grid.

Fourth of July fireworks cause a 60% spike in lost pets, but GPS trackers and AI photo-matching services like Love Lost can help reunite missing dogs with their families.

Protect yourself from jugging, the rising crime by which thieves monitor ATM users and follow them to steal cash, with six practical safety tips to stay alert and secure.

U.S. airlines like Delta, American and United are selling your domestic flight records to government agencies through the little-known Travel Intelligence Program.

Autonomous robots from Uber Eats are rolling out across U.S. cities, featuring LIDAR sensors, secure compartments and all-weather operation for food and grocery delivery.

Costco has expanded into EV infrastructure with new ultra-fast charging stations that can charge most electric vehicles to 80% in 20-60 minutes while shoppers browse the warehouse.

The new Gemini Robotics On-Device AI allows robots to perform complex tasks without internet, offering enhanced privacy, reliability and adaptability for real-world use.

Protect yourself from Amazon phishing scams by spotting red flags like suspicious sender addresses and spelling errors while using Amazon's Message Center to verify communications.

GAC Group's new Govy AirCab flying car combines lightweight design with advanced safety systems and smart cabin technology to revolutionize city travel with an 18.6-mile range.

The Berkeley Humanoid Light (BHL) is a lightweight, open source humanoid robot that anyone can build using 3D-printed parts and off-the-shelf components.

Meta’s new AI chatbot is getting personal, and it might be sharing more than you realize.

A new threat targets both Android and iPhone users: SparkKitty, a powerful mobile malware strain that scans private photos to steal cryptocurrency recovery phrases and other sensitive data.

Thanks to a team at the University of California, Davis, there's a new brain-computer interface (BCI) system that's opening up real-time, natural conversation for people who can't speak.

Privacy risks are hiding in plain sight, as your personal data is likely being collected, tracked, and sold without your knowledge.

VenHub, a fully autonomous, AI-powered smart store just opened at the LAX/Metro Transit Center in Los Angeles.

A woman's Facebook account takeover reveals dangerous social engineering tactics and provides lessons on recovery, avoiding scams and enacting stronger security measures.

Shanghai engineers are using 432 walking robots to relocate a complex, preserving Shikumen architecture while creating space for a modern underground hub and cultural center.

Major healthcare data analytics firm Episource had a cybersecurity incident exposing 5 million patients' medical records and personal information in recent breach.

Financial Fitness - Are You Exercising the Right Muscles to become Financially Fit?

Personal Finance