What It Takes To Be Financially Fit

Are you financially fit? If you feel confident and secure about your current financial situation and are comfortable when making financial decisions, you are considered financially fit, yet there are levels to financial fitness. If you are a great earner and live within your means but don’t have emergency savings or investment accounts, you are not as financially fit as you could be. Once you learn how to Earn, Spend, Save, and Protect your money to manage current needs and achieve long-term goals, you will understand what it takes to be financially fit.  

The first step to improve your level of financial fitness is to advance your career and increase your earnings, and there are many ways to do that. For example, investing in education to learn new skills can provide an opportunity to negotiate higher salaries. Attending regular business Networking events can help build relationships and open doors to higher-paying jobs. When you volunteer for local organizations, you never know who you may meet. CEOs of companies are often passionate about team building through volunteerism. 

How you spend your money matters. You won’t be financially fit if you don’t prioritize necessary spending and limit unnecessary spending. Streaming and delivery services are luxuries that should be limited. Credit card interest rates can snowball and make it difficult to lower debt. You can negotiate your rate with your credit card company, or choose a new credit card then transfer outstanding balances to take advantage of a zero interest offer for a set period of time to help reduce your debt. 

Save money by researching bank accounts that come with perks. A checking account that offers insurance, limits fees, and provides interest and rewards is the account someone who is financially fit would have. Traditional savings accounts offer zero to little interest so high-yield savings accounts are how financially fit people grow emergency savings.   

Protect both your financial and personal interests with smart investment opportunities and sound insurancestrategies. Alloy Wealth Management works with clients in the Carolinas and focuses on individual needs and values in insurance planning, and retirement planning. We are committed to helping pre-retirees and retirees navigate through complicated future planning decisions and would love to help you learn what it takes to become financially fit. Call 800-689-3935 to speak with one of our team members.