What is financial fitness?

It’s a term you often hear, but what is ‘financial fitness’ exactly? And how do you get ‘financially fit’? MyBudget’s founder Tammy Barton demystifies financial health and how to achieve your financial wellness goals.

What is financial fitness?

Today, I thought I’d answer a question that isn’t asked often enough: What is financial fitness?

I mean, if you think about it, you hear the term ‘financial fitness’ or ‘getting financially fit’ a lot but what does that really mean?

Watch this two-minute video or read the transcript below.

1. The first aspect is your short-term fitness

This is all about managing your day-to-day finances – paying your bills and debts, setting aside savings and all the right habits that help you live within your means and get ahead.

2. The second aspect is future-proofing.

That’s making sure you’re protected against unplanned emergencies – the ‘what ifs’ that can pop up from nowhere. Sometimes that’s a car repair or a vet bill and other times it’s a global pandemic – we certainly didn’t see that one coming! As well as making sure you have enough savings to fall back on, it also means having the right insurances in place, like car, health and home insurance.

3. Finally, the third aspect is achieving your long-term financial wellness goals

In other words, planning and saving for future milestones – things like buying a home or starting a family, going on holiday or topping up your super.

Budgeting is the foundation of financial fitness

This is why budgeting is the foundation of financial fitness, because it’s the blueprint for achieving all of the above. Then, what you find over time, is that budgeting becomes a way of life.

And that’s how you get really financially fit – not by looking at your bank account or credit card statement at the end of the month, but through the daily positive money habits that add up and snowball into better and better financial health over time.

What I hope this means for everyone watching is that you’re well and truly ahead of the curve, and you’re part of a growing global financial fitness movement that MyBudget is proud to be leading.

Remember, if there’s anything we can help with, please give us a call.

Now you know what financial fitness is, are you ready to build up money muscle and lose the debt?

MyBudget money coaches are like personal trainers for your money. They’ll improve your financial health and show you how to get financially fit on your own so you can keep kicking your financial wellness goals.

Wondering if you can afford it? How does FREE sound? We’ll design a 12-month customised training plan (read: budget) for you for FREE. It’s yours to keep.

Call 1300 300 922 or enquire online to book your free money coaching session.