Isaiah 45:22 – “Look unto me, and be ye saved, all the ends of the earth: for I am Yahweh, and there is none else”
Survival Of The Financially Fittest
Survival of the financially fittest is to have the money you need, when you need it.
A more detailed definition would include living within your means, not being in debt and to have savings.
If you set a budget and live by it then you’re on track to financial success. This ties in with saving regularly, and being mindful where your money goes will help you make wiser choices.
Saving money on a regular basis is the 1st step to getting ahead. The willingness and discipline to do so (save first then spend later).
Do you have income protection in place?
What will you do if you become disabled during your working years (or in retirement) and will you have enough after tax income?
Do you have a plan in place once you retire?
How much money will you need yearly after you retire? If you have children or grandchildren, do you want to leave them money or assets?
All of these questions are as important as leaving a legacy. I touched on the topic of retirement in a previous blog!
I strongly cannot advise anyone to place their hard-earned money in this current stock market!!!
However, if you feel the want or need then by all means after doing some research keep moving forward.
Being financially fit means living a life of complete financial responsibility.
Why is it important
Being financially fit is crucial for a well-balanced, stress-free life.
A financially fit person is constantly broadening their money knowledge.
They read personal finance books & blogs, attend financial education seminars and are aware of the changing economy.
A financially fit person knows that tracking monthly expenses is key to financial health.
We are careful to set aside money from our monthly income for all fixed and discretionary expenses and to stay within budget for each spending category.
A financially fit person is committed to paying down debts and seeks to live debt-free.
Constant budgeting, ongoing financial education and planning ahead enables them to make it through the month, and through unexpected expenses, without spiraling into debt.
We prioritizes savings. In fact, savings is a fixed item on their monthly budget instead of something that only happens if there’s money left over.
This will allow you to think ahead and build a comfortable emergency fund.
Know where you stand
You know exactly how much money you owe, the accumulated value of your assets and the complete sum of your fixed and fluctuating expenses.
Maintaining a healthy credit score is a component to long-term financial health.
We are careful to pay all bills on time, hold onto our credit cards for a while and to keep our credit utilization low.
Its best to help your money go further. Do not waste money on interest charges for purchases made via credit cards or loans.
Live within your means and only use these resources for purchases you can actually afford, or for large, long-term assets, like a car or a house.
You must have long-term and short-term financial goals.
This enables you to keep your focus on the big picture when making everyday money choices.
Being independent comes when you are financially fit. As a result, you don’t rely on loans from friends or family to get by, and you don’t need to pay with plastic at the end of the month because you ran out of money.
By sticking to a budget, prioritizing savings and maintaining an awareness of your finances, you are strong, secure and completely independent.
Conclusion
Being financially fit means living a life without battling anxiety. Commit to making choices that put you ahead and not behind.
Do not try and copy what others are doing, what works for them may not work for you.
Force yourself to save money, even if you must hide it in a bank envelope and tuck it away so it’s out of sight (out of mind).
Try and limit the amount of credits cards you have and use (3 credit cards recommended).
Put your money into tangible assets that will give you a return* (e.g., real estate, silver, gold, live cattle).
Live below your means, try to cook rather than eat out and use what you got at home!
Everyone has a financial conscientiousness. You are not responsible for making sure someone else thrives financially.
DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.
AFFILIATE DISCLAIMER: this post contains references to products from our advertisers. Therefore, we may receive compensation when you click on links to those products at NO additional cost to you.
