Financial Fitness is about having a healthy mind, body and wallet. And it’s achievable for all income levels. Unfortunately the percentage of people who are financially independent over the years across countries has not changed. For decades it has remained 5%, exhibiting a standard bell curve. This means in order to NOT BE part of the 95% that are average or below, we have to DO what 95% are not doing. This means making a date to delve into your financial situation regularly. And yes it can be fun!
The first step is to choose your environment. Get comfortable and be somewhere that you feel relaxed and enjoy. Have your favourite music, the right tools such as a calculator and your favourite colourful pens. Even if you don’t know the answers to some of your financial questions, or don’t even know what questions to ask, at least you will be getting into a habit and that’s the most important part. To begin with do a budget or Google financial topics. Make it the same time every week such as Money Mondays, Wealth Wednesdays or Finance Fridays. Then reward yourself with something such as your favourite food or giving each other a mutual massage if you’re discussing money with your partner.
As a graduate, especially as you graduate through life experiences, the value of money will become more evident. And if you want to see the magical power of compound interest go to www.moneysmart.gov.au and play with the compound interest calculators to find out how quickly your money can grow. If you look at people 10 years ahead of you or the people that raised you, are they on a comfortable path to financial freedom? If so, great! Follow their example, unless they are like the auntie described in the Financial Fitness Introductory course. Yes sometimes our experiences give us a negative association with money so another key point for Financial Fitness is knowing how we formed our beliefs around money. The introductory course covers this and a lot more, including:
- The Big Picture
- Our Relationship with Money
- The Power of Compound Interest
- The Unique Basic Budgeting process
- How to deal with Emotional spending and External Pressure
You have three months to complete the course and receive unlimited support for the duration. Some people just need a point in the right direction however if you’d like more, after the beta testing of this course, we’ll be adding many more modules to help you hone skills and the money mindset to make you an even more Successful Graduate. The complete Health and Wealth program which aligns with Australian Government accredited training is over 40 hours of information and activities. It incorporates time management, conflict resolution and communication skills, as well as the basics of investing.
Since 2004 National Financial Fitness (NFF) has taught thousands of people from age 4 to 90 and was selected for the ASIC Panel of Financial Literacy Experts in 2011 due to higher than national average results. If you’d like to join those who have paid off large amounts of debt, saved cash for cars and reduced their working hours, along with buying investment properties, start your path by enrolling in this course.