Financial Fitness

Fitness means a lot of things to a lot of people. For most, we think about our physical bodies. Sometimes, people think about mental health. But do you ever think about financial fitness (or like me, are you happier to put that out of your mind and think about it only when the bills comes?). Fuse friend Andrew Paulson, a financial advisor who will be hosting a FREE Financial Fitness for Women workshop at the studio on Wednesday, January 18 at 6:45 p.m. takes a look at fitness from your financial point of view:  

Can you tone up your finances without feeling the pinch?

While the holiday season comes to an end, you may be reflecting on some overindulgence – whether it was too many cookies or too much money spent finding the perfect gift for everyone on our list. Though you may cringe at the idea of stepping on the scale or viewing your next credit card bill, it’s not too late to get back on track with healthy eating and spending habits. But sometimes better habits are easier said than done. It may seem difficult say “no” to another piece of pumpkin pie, and it can be just as painful to reign in your spending, not to mention paying off those bills. However, taking control of your financial and physical well-being is always within reach. It only takes small steps to start the process and those little changes can go a long way to becoming more dedicated and mindful of your decisions. But where do you start? Track your spending for a month and keep a log of all your purchases. A good way to start is to keep a little notebook in your purse or use a note function on your smart phone to reference – or there may be an app for that. Once the month is up, tally your total spending. Also look into the records of your bank account (using online tools from your bank can be extremely useful). For most people, the total is a bit of a shock, but don’t worry, analyzing and understanding your habits is the first step to developing better practices. The next step is to break down the categories of your spending. Consider the absolute necessities in your life that require funds. These things include mortgage payments, utilities, cell phone, groceries, (Fuse), etc. If you are really looking to purge all other spending, then this amount is the bare minimum. Like with crash-diets though, this kind of restriction is not sustainable. Financial stress can certainly cause a great amount of anxiety in one’s life and stress is inherently linked to one’s physical and mental well-being too, affecting our mood, weight and sleep patterns. Some of the best ways to combat stress is by doing things that make us feel good like a fun night out with friends or a Pilates class. These things are good for our well-being, and it is important to consider expenses associated with such activities into your budget. However, there are some things that we spend money on that may just be wasteful. Another pair of expensive boots isn’t likely to reduce stress or make you happier. Starbucks every morning before work probably isn’t essential when you can make coffee at home, and these impulse or superfluous purchases can really add up. Consider cutting down on them to improve your savings and to reduce your stress by spending on the things that truly enrich your life. Find a financial and lifestyle balance that makes you feel good about yourself physically, mentally and financially.

To learn more about Drew, click here

To save a spot in the workshop, click hereWe have a few spots remaining in the workshop. If the class fills up, we'll add another soon! 

Legal stuff:

Ameriprise Financial and Fuse Pilates are not affiliated. Drew is licensed/registered to do business with U.S. residents only in the DC and the states MD, VA, CA, MO, and MN.

Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients. 

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