Financial health

Commit to your financial health

Now that you know what financial health is, you might be wondering how you’re actually going to achieve it. 

The answer is simple, but it might not be easy. You might find it difficult to change financial habits that have become part of your life, but the reward will by far outweigh the effort. 

If you’re serious about improving your financial health, changing your financial future and reducing financial stress, here are 10 practical steps you can commit to today:

1. Commit to CAN rather than CAN’T

Henry Ford said: “Whether you think you can, or whether you think you can’t… you are right.” 

Don’t be afraid of change. Commit to applying what you learn from this course and the courses that follow. Create more reasons why you can do it than reasons why you can’t. Remind yourself of these positive reasons every day, and turn your reasons into results. 

2. Plan for success

In the courses that follow, you’ll learn about setting goals and how to create a plan to reach them. Look at your current situation and put together a plan that will be easy enough to follow. Don’t try and change everything in one day. Pace yourself and enjoy the journey of growth. 

3. Don’t do it alone

Our courses will help you improve your financial health and give you insight into topics that might be a bit overwhelming at first. But don’t try and master it alone. Get accountability buddies to help you stay committed to your financial journey. Be careful who you take advice from, though. If you’re struggling, rather get a qualified financial advisor to help you put your knowledge into action. 

4. Control your expenses

Stop spending money on things you haven’t planned for. It’s a lot easier to reduce your expenses than it is to increase your income. Avoid emotional spending and steer clear of social pressure. Remember that 20 years from now, it’s you and your family who’ll reap the rewards of your financial health. 

5. Commit to an affordable lifestyle

Don’t fall into the trap of spending more when you start earning more. Decide what lifestyle you can afford and keep to it. When your income increases, improve your lifestyle slightly and reward yourself for your hard work, but commit to saving and investing the majority of the extra money. 

6. Commit to being excellent 

While it’s important to control your expenses, the next best strategy is to increase your income. Commit to being your best in everything you do. Make an effort to grow your income or business by investing in your education and planning your work and business growth. 

7. Take responsibility 

You need to take 100% responsibility for what you want to achieve – nobody else can do it for you. Try to always make informed decisions, be open to learning new things and commit to applying what you learn. Knowledge is wasted if not applied, so be the best version of yourself to create the best future for you. 

8. Commit to keep on saving 

No matter how hard it might be, try to create new opportunities to save. Find ways to make saving fun, and challenge yourself to never stop saving so that you can reap the benefit of savings with compound interest. 

9. Create a financial safety net

Before saving towards financial goals, commit to putting money away for retirement and get an emergency savings plan in place. Once this is done, keep on growing your retirement savings, save towards financial goals, and invest in money-generating assets for the rest of your life. 

10. Commit to taking control of your debt

Pay off all your unnecessary debt as soon as possible. This will save you a lot of money in interest and fees in the long run, and also help relieve your financial stress. Remember, the short-term gain isn’t worth the long-term pain of spending money you don’t have. 

We’ll be covering all of these steps in more detail in the courses that follow. Don’t feel overwhelmed, the courses on Saving, Budgeting and Credit & Debt will give you the practical steps to improve your immediate financial health, and make a long-lasting difference to your finances and net worth.