While I have been learning about ways to lose weight and eat healthier I really came to understand how one’s physical health has a parallel existence to being fiscally healthy.
Lose the Excess Weight
Just like excess weight puts an added burden on my joints and heart, so too does the excess stuff in the house; to keep it up in usable condition, to find a place to store it and to dust it. Eventually that adds a burden to my budget and to my psyche. Declutter and get some money in the process.
Gain Muscle
Through the process of gaining muscle I'm losing weight and firming up my existing muscles that will help me later in life to overcome obstacles. The same is true in the financial gym, when I gain a savings or pay off a credit car I also realize that getting rid of my debt will help you save even more. This savings bulk up will also help later in life or through an emergency.
Develop Your Core
It is hard to do basic things around the house when my body’s core is weak. If I have that balance under control, then I will be able to handle the money I am putting away and increase or decrease it with a plan. This means that I need to know what is coming in and where it is going.
Go for the Gold
When I start to see that physique in the mirror that I have been dreaming about, I start to build confidence that moves me to loftier goals; and with finances I will also find this to be true. I have found a way to train that will shape me into the image I long to see (with little tweaks here and there, no one is perfect!) and as my financial life grows, so will my ideas for retiring early, cutting back to one job, buying a half ton of gold or saving 3 million dollars for retirement.
Lose the Excess Weight
Stop overspending - Cut up the cards. if you maxed them out, you can’t use them anyway.
Spend within your means - Moderation is key. Don’t let your eyes grab a hold of what your wallet can’t handle
Pay off debt - Put in a little extra. If it is rounding up your minimum from $37 to $40 a month or paying min on all cards except one.
Build some muscle
Improve your credit score - Since this is a new year, it is a good time to get your free reports at Annualcreditreport.com and take a look what needs to be fixed.
Improve your emergency fund - If you have nothing, get it to $100, $1,000 or save 3 months expenses worth
Start a 401K/IRA - Hide today’s money away for yourself in the future.
Develop Your Core
Differentiate Needs/Wants - Obviously you can’t have it all now, or you can, but there is a great debt to pay for it. This is where procrastinating is a good thing- when you spend money.
Understand Income/Outgoing - Sit down and work out a balance sheet, set up a budget, find ways to cut back so you can increase it in other, better areas.
Balance Value – Cheap isn’t always equal to value. Sometimes you have to delay in order to get a good value.
Go for the Gold
Save even more - If you have a robust 401k/IRA and savings, start expanding
Keep yourself Informed - Make sure you are keeping yourself informed, it is your money and under your control
Avoid scams – Don’t fall for get rich quick scams, keep your finances safe and secure
Your comparison is excellent. Best of all, just as you get the results from the weight training if you follow and implement the exercise and eating routine, you also get the same results by disciplining yourself and following the outline you mentioned to become fiscally healthy. These are awesome steps to power up and get it done.
@Lillie
Thank you. Persistance and patience does pays off.