LFG - it's time for the start of year reset! Learn how to check your financial fitness.
How good is feeling you're at a fitness peak?
It’s at these times that you start thinking about whether you could have been a pro athlete. But when those fitness peaks slide, you start to remember why you’re not…
It’s not just your physical fitness that requires constant effort and consistency, but also your financial fitness. You don’t just stay at Warren-Buffett-level-savviness without constant work.
So, in the spirit of a start of year reset, let’s run through how to build your financial fitness, how to track it over time, and how this process helps you work towards your financial independence. Yay!
1. Build your financial fitness
Building up a solid financial workout plan starts with:
But really, it’s a continuous journey that most of us work towards with others in our lives.
2. Track your financial fitness
The best way to suss how you’re tracking is to assess your current financial habits, the good, the bad, and the yeah-I-should-probably-stop-doing-that.
There’s also one in Flux Academy in the Flux app, called the monthly money-check in. Wherever you do it, your financial wellbeing score places you on the spectrum between really struggling and absolutely smashing it.*
FYI, in November 2022, Flux fam members had an average financial wellbeing score of 68 per cent (putting them in the “neutral” to “positive” range), which dropped to 54 per cent in December 2022 (which is right at the upper range of “negative”).
3. Gun for financial independence!
You improve your financial fitness by taking actions towards your money goals. Overtime, and with consistency, this leads you towards financial independence.
You got dis!
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