How to get financially fit in 6 easy steps

by Chris Gottschalk, First Alliance Credit Union

It’s no secret that getting fit is a popular goal. People invest a lot of time and money in planning meals and paying gym memberships, all in the hopes of getting the body of their dreams.

However, there are several different kinds of fitness, including financial fitness. Getting financially fit arguably has even more benefits than getting physically fit, and you can do it in only six steps.

Figure out Your Current Financial Situation

Before you can figure out where you’re going, you need to know where you are. The best way to do that is to have a clear picture of your assets and liabilities.

You’ll probably want to start by looking at your assets. This will give you an idea of your monetary worth, and quite frankly starting the process by listing what you have is less stressful than listing what you owe. Look at your savings and investment accounts, including your retirement funds, and don’t forget to include items like real estate and automobiles.

 

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