Top Tips for Healthy Finances

What comes to mind when you think of healthy finances?

What spells stress relief for you when
it comes to managing them? If you’ve found yourself in an unfortunate predicament in this way,
FitnessBank can help. We’ve put together the list below to serve as a bit of a study guide for
healthy financial practices.

To be transparent, even with a cheat sheet, the work is not easy. It takes time, discipline, and a
true desire to correct any previous poor management. But the investment is well worth the
payoff, as it can put you and your family in a better overall position.

Monitor Your Spending

Something that any entrepreneur can attest to is that income can vary from month to month. While those with an established business history and savings record are prepared to weather the storm, many newcomers are left feeling strained and defeated. The key is to build up those saving habits as early as possible to prepare your for anything that may arise.

It’s also often difficult to plan ahead on this path. With inconsistent income, it’s much harder to put aside a set amount each month. While things may seem cramped, there are several support, like FitnessBank, that are here to offer help however we can.

Reassess Your Spending

Are your spending habits still creating a major concern? There’s always the option of reworking your current approach. As stated earlier, cutting back on expenses can be a huge help. Next
though, you should fully review all possible avenues as it relates to your income.

The goal here is to find any available means of raising your income (ethically, of course), to assist with your expense ratio. Leave no stone unturned. Whether it’s a possible new stream of income, or an enhancement on your current take home amount; see what’s feasible and get a head start on pursuing it.

What Your Savings Say about Your Finances

Your savings account is another great marker to determine if you have healthy finances. If you’re looking to beef up your savings, we have a few recommendations. First, try limiting your ability to reach these funds. It can be tempting to dip into these reserves, but there are safeguards that you can impose to restrict their accessibility.

There’s also great value in setting a concise directive for yourself regarding savings. Developing a realistic plan for putting away funds will help you stay on track. Write it down, track it, and watch the results roll in.

How FitnessBank Helps

Ready to take your finances to the next level? Banking with us brings about great rewards for consistent savings. This comes via our Step Tracker app, which gives you better interest rates on savings the more you walk. Because what good is great financial health if you don’t keep your physical health in check?

Have more questions for us regarding our services? We’d love to discuss things with you further. You can talk with one of our lenders today. Visit our contact page to schedule a consultation. It’s quick, easy, and most of all, valuable.