Financial Fitness :
Definitely you would , have done some cool challenges in your life, like fitness challenge ,shredding 5 or 10 pounds , eating good foods, cleaning up home.
Have you ever thought of doing a financial challenge or financial fitness ? , if not please add to your list for financial success.
The challenges can be as simple to hardest
- Revisiting your bills to see opportunity for saving. You might be paying for home landline phone , you may not be using for several months. The internet provider might be charging more on your bill . You might be paying for the TV Channels which you don’t watch. You are paying more for your auto insurance.
- Have a 7 day plan to revisit your all your investment like 401k, IRA, 529 etc to re balance or reduce the expense fee charged by funds ( a small 0.75% can lead to more than 100K fee over years ).
- Have a 30 days challenge to learn from anywhere or anything on financials / investments.
- If you are expert on trading , set a limit to reach some crazy profit levels in 30 days or 60 days.
Choose what works for you , but for sure have a plan in your list for the financial fitness.
I usually do some short-term financial goals in sometimes of the year irrespective of the market condition. This is typically like your fitness goal, shredding 5 pounds or 10 pounds in few weeks.This like going crazy in investments and bumping up your balance.