1. Incorporate good habits into your lifestyle
• You won’t be in great shape with just one workout, just like you won’t be rich with just one month of saving. Both take time and discipline. Make saving a habit every month. And remember:
2. Do the math
• Do you count your calories? Why not track your spending. An awesome tool is mint.com where you can set out budgets, make goals and see where all your hard-earned dollars are going.
3. Pack a lunch
• One of the easiest ways to save money and probably eat healthier is to eat out less!
4. Incorporate activities into your lifestyle that support your goals
• Not everything you do has to be a costly outing. Try going for hikes to tick both fitness and financial friendly check boxes.
5. Surround yourself with people who will help you succeed
• Motivational speaker Jim Rohn famously said that we are the average of the five people we spend the most time with. Are those five people helping you achieve your goals, or causing you to move further away from them?
6. Cut out the junk
• This may mean things like sugar and deep-fried foods in the fitness world, but think about what you can cut out of your life for your financial health. For instance, I recently cancelled cable TV to save an extra $80 a month, and to encourage myself to get out and do other things. This just happens to go hand in hand to help my fitness efforts as well. :-)
7. Track your progress
• It can be discouraging when you don’t receive instant gratification, whether it be in the gym or with your savings. But by tracking your progress, you will be able to see the difference your efforts are making. Keep in mind that investing and the compounding effect of your regular contributions can really expedite your progress.
8. Avoid binging
• Binge spending can lead to debt, and eliminating debt is one of the best things you can do for your financial health. The less you have to pay to creditors, the more you can pay yourself!
9. Get a coach
• Whether it is a trainer in the gym, or an advisor for your finances, it doesn’t hurt to ask for help. Sometimes getting guidance from professionals will move you forward much quicker than trying to map it out on your own. Try using the MoneySense Approved Financial Advisor tool to find someone right for you.
10. Avoid peer pressure
• Societal pressures can make us feel we need to be a certain way and do certain things. For instance, that we need to own a house. If taking on a mortgage is going to stretch you to the limit, taking the time to save more and grow a larger down payment, can actually save you thousands in the end - not to mention avoiding undue stress.