Tailor your “Financial Workout” to Match You

Imagine yourself physically and financially fit.  What do you look like?  What can you afford?  How does it make you feel?  An indescribable sense of accomplishment awaits us when we are physically and financially fit.   If these are a part of your life’s dream, here are some tips to make them your reality. 

1. Get a coach who motivates and keeps you accountable: Have you ever noticed that a routine that works well for one person may not work well for someone else? Your financial coach needs to understand: how you think, your long-term goals, your current situation and habits.  
    
2. Set a Target Number, Date and Celebrate: Your net worth is to financial freedom what your target weight is to physical fitness; so know your numbers and know your target date. If your long-term goal seems daunting, break them down into shorter-term goals? For example, By February 1, 20XX, I will have $XXX in savings/investments and by June 1, 20XX I will have $3XXX. This may be the answer to maintaining focus so you will have reason to celebrate!
    
3. Increase Incrementally:    Moving from no savings to self-restrictive savings is similar to moving from no exercise to working out for several hours every day.  To increase the likelihood of making financial fitness your new lifestyle, pace yourself by gradually increasing the amount you save/invest. 
    
4. Maintain the things you enjoy: If something is enjoyable, there is a greater likelihood you will make it a part of your lifestyle.   So, you may want to keep some form of entertainment in the budget, but gradually reduce the frequency and/or expenditure.  
    
5. Diversification is Key: Some exercises help to improve the cardiovascular system and others tone your muscles.  Similarly, different forms of investment target your long-term financial goals in varying ways.  Similarly, if you want a body builder’s body you would use heavy weights.  While, if you want to maintain a slender silhouette you may use lighter weights and cardio exercises and eat healthier.  Likewise, the percentage of your portfolio allocated to each investment should be determined by your financial objective. 
    

Achieving your long-term goal of financial fitness requires a lifestyle change.  Your customized game plan and a coach await you.  Simply call 800-5662 or visit one of our branches.