Getting In Shape


Photo credit: Cross Fit Impulse


Fitness, spirituality, relationships, careers; these are just the few of many topics on the resolution list of many. There’s also one other area we’ll all certainly be thinking of – money. We all want to know how to make more of it; who doesn’t? But it’s more important to put your finances in shape; below are three areas on how to do so.


Purchases – You’ve worked the month off and you’re treating yourself to a little something at the end of it.  Why not, you deserve it. But did you really need that second pair of black shoes that look exactly like the ones you bought last month or, and most importantly, could you afford them? Sort out your outstanding debts, make sure your living payments are all cleared then start thinking of treating yourself; most especially if you’re running on a tight budget. Don’t spend more than you earn. You shouldn’t be doing Aston Martin purchases when you can’t afford a Volvo; cut your coat according to your size.




Popular spending mantras to always have in mind:

If you buy things you do not need, soon you will have to sell what you need

Do not save what is left after spending, but spend what is left after saving




Savings – If you haven’t started, there’s no better time to start than now. Put aside a little every month, this is the best and most consistent way to get yourself saving. The misconception that many have is that to save they must have a large income to do so, but starting with 5-10% of your income is enough. Savings are usually geared towards a certain goal such as a holiday or a car but saving for that unexpected moment is most important. The rule of thumb from financial experts is having 3 months of savings to cover for rainy days.


Investments – Now that you have your spending in shape and you’ve learnt to put a little aside, you can think about investing. Investing is getting your money to work for you. Unlike savings, where there’s never a bad time to do so, investments requires taking a little more thought as there are a number of factors to take into consideration. Shares, bonds, estates, stocks, funds; the list is endless. Find out what form of investment works best for you,  learn the terminology, think about your attitude to risk, your investment goals and your financial situation and talk to an adviser.


There is plenty of advice out there, however below are some links we feel could provide great first steps to getting your money into shape:

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