Exercise for Your Wallet

There are thousands of studies that have been performed and thousands more that will be performed that show the important of exercise in our daily lives. Experts say that everyone needs at least 30 minutes of exercise every day. The way you get that exercise can vary, because all that really matters is that you keep your heart rate elevated for 30 minutes. If you workout every day you’ll be able to stay healthier, have an increased immune system, and even increase your life expectancy. Ultimately there really isn’t any good reason to not workout and the same goes for taking care of your wallet.

If you aren’t constantly taking care of finances you can end up with a wallet that is being overworked. If you want to stay in tip top shape financially it is going to take some hard work and dedication. Here are a few things that you can do to exercise your wallet:

  • Make a List of Expenditures- If you are going to the gym to lose weight then you’ll have to step on the scale and see how much you weight to get a starting point. The same goes for finances and if you’re going to start making a difference you need to know where you stand. Keep a detailed record of every penny that you spend and at the end of each week or month you can review it to see which areas need the most improvement.
  • Let Go of the Finer Things- If you’re going to get in shape financially then you’ll need to give up some of your spending vices. Find the biggest expenditure that isn’t absolutely necessary and let it go. Take the extra money that you have leftover and stick it in savings. This will take some diligence but you’d be surprised how quickly the money will start to add up.
  • Cancel Subscriptions- If you have a bunch of unnecessary subscriptions like premium cable channels or online memberships, cancel the ones that you don’t actually need. Sure it may be nice to get your favorite magazine in the mail every month but chances are you can find it online for free. Once you’ve canceled all of the unnecessary subscriptions you can stick that money in savings as well.

The first things that you need to know about improving the state of your financing is that it is going to take time. Just as you can’t expect to lose a bunch of weight after one trip to the gym, you shouldn’t expect your finances to magically improve after just one day of diligence. Remember that consistency is the most important trait to have when it comes to overhauling your current state.
Micah Castro is a freelance writer for JacksonWhite Attorneys at Law.