You Can Achieve Financial Fitness!
Author: Shannon Miller
With the holidays right around the corner, it’s a good time to start considering our financial situation.
This past week “Financial Fitness” was the focus of the Shannon Miller Lifestyle radio show. In case you missed it, you can check out some of the highlights on our Shannon Miller Lifestyle Radio Show archives page.
Gail Lewis from 1-2-1 Financial Credit Union joined SML Radio to talk to us about getting financially fit.
According to Lewis, being financially fit is much like being physically fit. Use these tips to start your own “fitness” program.
- Set smart, realistic goals. In addition to making a big goal to pay off all of your debt by a certain date, set smaller, achievable goals for paying off specified portions of your debt.
- Create a journal to track your spending (credit, debit, and cash). Use your Shannon Miller Food Journal and Exercise Log to get physically fit but use a financial journal to track your daily expenditures. It’s amazing how fast the cost of that daily cup of coffee can add up!
- Build up your confidence by giving yourself credit for any progress you make. If you walk out of the store, and away from those oh so cute shoes so that you can take 24 hours to decide if you really need them, pat yourself on the back, you’re likely to realize you didn’t like them that much.
Also joining the show was Dr. Heidi Pomm, Coordinator of Behavioral Science at the St. Vincent Family Medicine Residency Program. Dr. Pomm discussed the emotional toll of financial issues and how the effects of this can be controlled. “We are what we think,” Dr. Pomm commented. It’s easy to get caught up in negative thinking – “What if?” thinking.
Acknowledging the existence of negative thought is important because such thinking can easily lead to stress, which in turn can affect our physical and mental well-being. To counter negative thinking, Dr. Pomm suggests taking back your power by living in the moment.
For example, when negative thoughts begin to flood your mind, replace them with thoughts of gratitude – what can you be thankful for right now?
It is no secret or surprise that finances can bring problems into our lives, but just like physical fitness, financial fitness can be achieved! Have confidence and take control!