Every day we make choices with our money.
These choices can impact how we manage expenses and debt, how prepared we are for large, unexpected costs and whether we’re able to build up our savings and get on track for longer term goals.
When we aren’t on top of our finances, it can feel like our money is making choices for us. Our financial wellbeing can suffer, and our dreams for the future may seem out of reach.
When it comes to financial wellbeing, it's about being financially fit and prepared to handle both everyday expenses and unexpected costs.
Financial fitness isn’t about being wealthy. While wealth often considers measures like bank balances, investments and net worth, financial fitness is about your ability to take on life's ups and downs.
How do you know if you're financially fit?
Everyone’s financial picture is different, but as a rough guide, you can assess your current level of financial fitness by the degree to which you agree with the following statements:
- I regularly spend less than I earn
- I regularly set goals for my personal finances and feel confident achieving them
- I have a system for managing my money incomings and outgoings that I check regularly and gives me peace of mind
- I have a plan to grow my money over time to keep pace with prices
- I am confident in my ability to protect my money from scams, carry appropriate insurances and pass on my wealth how I choose
Where can you start?
Financial fitness is much like physical fitness. It’s about setting a goal, making a plan and taking small steps to look after your future self.
We all face daily choices when it comes to earning, saving and investing. It can be overwhelming, so if you’re looking to feel more confident with your money, check out our Financial Fitness Program; practical lessons hosted by personal finance expert, Jess Irvine, to help make your money go further.
