S - Sepcific
M - Measurable
A - Achievable
R - Realistic
T - Time-bound
Mind-Body Financial Fitness
- Take responsibility of your own future and develop discipline and commitment needed in making plans for every stage of life including retirement, long-term medical care and succession plan. SPECIFIC (What, Why and How).
- "If you cant measure it, you cant manage it"
- Plan in exact terms, how much money you want to have. Measurable
- Be physically aware of your financial position at all times - check each component of your financial situation i,e loans, credit cards and monthly income and expenses. Knowing your financial landscape ensures and ACHIEVABLE financial goal is set.
- go to series of ecercises to ensure total financial fitness is achieve. Knowing your financial position in itself is insufficient. You need to know how to control your finance.
- "make it, Keep it, Grow it", rather than "Make it and Spent it"
- Minimise consumption and getting the most value of everything they purchase - control your expenses.
- Be REALISTIC about financial goal.
- Financial goal must be TIME-BOUND.
- Know exactly when you want to achive your goal.
- Putting an end on your goal provides you with clear target to work towards achieving.
- Start taking action without any procrastination
- Set a SMART financial goal today and begin your journey towards becoming financially fit.