Being Physically Fit Can Get You Financially Fit
Several studies have discovered a link between physical fitness and financial health. According to CNN Money, members of the workforce who exercise regularly tend to earn higher salaries. Why? When they come into work after a workout, they’re more productive! In particular, men who exercise at least three times a week receive 6% higher pay, while women earn 10% more on average. Is there a relationship between physical and financial health? We explore five similarities between losing weight and saving money.
- Goal Setting
Getting physically and financially fit both require hard work and commitment. Setting short and long-term objectives can help you meet your overall goal more efficiently. When it comes to fitness, if you want to complete a half marathon, you’ll likely start training with one-mile runs and gradually add miles. Setting financial goals is similar; if your long-term goal is to pay off your student loan debt, you’ll start a small savings plan to accomplish this.
- Making Subtle Changes
It’s the New Year and you want to drop the 10 pounds you gained from holiday eating! The first thing you’ll want to do is remove all the leftover cookies and other junk food from your home. In terms of removing debt from your life, after you’ve paid off your bills, it’s time to get rid of the multiple credit cards in your wallet. Physical and financial health are all about eliminating temptation!
- Establishing a Routine
Just as you create a diet and exercise plan when trying to lose weight, you’ll need a financial plan to establish security. Take it one step at a time; when you’re on a diet, you slowly wean off bad carbs and high levels of sugar. On a financial diet, it’s important to come up with a plan that you can easily adapt to, whether it’s saving 10% of each paycheck to put in the bank or increasing your contribution to a 401k.
- Slow but Sure Progress
Although it would make life easier, you can’t lose 20 pounds in a week and you won’t be able to pay off your credit card debt in 20 days. When it comes to physical and financial health, know that most people are facing an uphill battle, but the payoff will be worth it! Making the decision to change is the first step in a positive direction.
- Finding the Right Plan for You
So, you want to lose weight, but you don’t enjoy cardio. You’ve tried running, boxing and biking, but suffer through every minute of the workout. One day, you discover that you love to dance! The same can be said for financial planning: you couldn’t imagine giving up your daily Starbucks coffee, but you start bringing your lunch to work every day to save money. It may take some time, but you’ll find the best “exercise” plan for your needs.
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