As we reflect on the past year, we’re also making choices about how we will improve our lives in the coming year. Most of us choose resolutions related to money and health- we may want to lose weight or pay down debt, for example. We choose resolutions that are in line with our personal values. When we reach our goals we feel good about ourselves and the world around us.
What if your 2018 resolution was to become Fiscally Fit?
What does it mean to be fiscally fit?
Simply stated, being fiscally fit means having peace of mind that you are in charge of your finances and not the other way around. You enjoy life without the additional stress of money because you have a plan. It’s not to say you’re rich, but rather you understand your money and how it can workfor you, not the other way around.
What does a fiscally fit lifestyle look like?
A fiscally fit lifestyle is one where your relationship with money is guided by your values. They dictate how you work, how you spend, and how you save. Not only are you guided by your values but you encourage others to do the same. When your financial house is in order, you’re confident. You know you’re making good decisions about your money. You’re grateful for the money you have and the things or experiences it allows you to buy. You make your money work for you and you are optimistic about your financial future. This translates into encouraging friends, family and children about the importance of their own personal values with money.
What are the benefits of being fiscally fit?
My clients will tell you the path to being fiscally fit isn’t easy but the benefits are amazing and include:
- Increased awareness about income and expenses for you and/or your small business
- Planning and taking action to pay off debt or being debt free
- No dependence on credit cards
- Investment and savings strategies
- A financial power team to help you plan for your future
We’re often too busy to think about how we spend our money until we’re in financial trouble. We get caught in the cycle of using credit cards for everyday expenses, like groceries, with no plan to repay the debt. We make purchases we cannot afford or investments that do not pay off as we had planned. This money stress causes problems in our relationships. Our budgeting system is based on being proactive, not reactive! When you budget this way all the planning is on the front end, there are few surprises, you can see your expenses and money clearly and budgeting becomes simply (and maybe a bit boring). Isn’t that what we all want with our money? That it becomes easy, boring and does the work for us?
When you’re at your wits end about money, it’s time to make a plan to become fiscally fit.
Often I will ask my clients what they value most in life. Common answers include friends and family, travel, and being able to give back to the community with time and/or money. Just knowing your own values as they relate to finances will drive your passion to experience the benefits of being fiscally fit.