It’s been a hot minute since I’ve written a blog post! I’ve been spending most of my time over on Instagram (check me out here) but I decided to resurrect this blog in 2019 for a few very special series. The first series of posts that I’ll be working on is this one – Financially Fit in 2019! I spent the majority of 2018 doing my own research and getting myself started on my own financial fitness journey – now that I have the basics down, I thought I would share what I have learned with all of you.
Figuring out finances can be a daunting task, but it’s actually rather simple once you break it down into simple steps. Click the following link to download the first reference sheet for this series, the “Financially Fit Beginner’s Checkup.” In this resource, I’m sharing 4 easy things you can do to start acclimating yourself with this process and gain a broader understanding of how ‘healthy’ you are, financially. These may seem like no-brainers to some financially fit folks, but when you are first starting out it is easy to ignore these steps – and that can snowball to create financial disaster.
We know that if you work out too much, for too long, or with improper form, the body gets stressed out and you will get hurt. The same thing goes for financial health – if you go too long without checking up on your finances, or if you aren’t diligent enough in keeping track of where your money is going, you’re more likely to suffer (and I’m not just talking about in the short term – we’ll discuss the beast known as retirement savings later on in this series). Learning how to be an adult is hard enough without adding financial stress on top of that – so let’s try to take that stress out of the equation with this series!
I recommend setting up reminders in your phone for the 1st, 15th, and last day of every month for checkups like this one. The first day of the month can be a good time to “reset” and start this journey, but if you get paid on specific days (for example – I get paid on the 15th and the last day of the month), it might be easier to start when your checking account has been freshly updated with new funds versus stressing yourself out if your balance is low. If you already feel overwhelmed, remember that over time checking up on your accounts will become second nature to you – but first, you have to form the habit.
The start of a new year is a great time to get started on your financial fitness journey. On top of your health and fitness goals, set a New Year’s Resolution to become more in-tune with your financial health and make improvements that will set your future self up for success. Check back in the future for more updates! I plan on going over how to create a budget that makes sense for you (including providing a spreadsheet template to help track your spending); how to plan and save for retirement (starting at a young age is SO important); and how to deal with debt if you find yourself stuck with massive credit card bills or student loans. If you have any other topics that you would like to learn more about, tell me in the comments!