What Can A Personal Trainer Teach You About Financial Fitness

At the beginning of a new year, most of us are still clinging to resolutions to stay healthy (and desperately dodging the post-Valentines/pre-Easter chocolate-crammed aisles). No one wants to lose momentum when it comes to physical fitness...But as the year gets into full swing, the same could - and should - be said for financial fitness. We set out to discover how advice from a personal trainer may help get your 2018 budgeting and saving on track so you can create good habits that build a strong and lasting foundation.

Joe Dorrington is a local personal trainer. With 18 years’ experience, Joe’s no stranger to the game. He’s worked with super-fit rugby teams and over 70 retirees, to overweight young professionals, injured athletes and the odd celebrity in-between (he doesn’t train and tell). It was easy to draw some parallels from the advice he shared:

“Start simply. Walking leads to running, running leads to marathons.”

You don’t need to be fit to start training, but you need to train to get fit. The same goes for investments; you don’t need to be rich to do it. In fact, even if you can start small, your friend compound interest will help you along the way. Joe says 90% of it is mental; the most important thing is to get started and stick to it.

“There are no quick fixes and no shortcuts. It’s up to you to do the hard graft.”

Joe emphasised the importance of discipline as a way to establish routine, which ultimately becomes a way of life. Sure, no one likes waking up at the crack of dawn, but just like pitching up to those weekly gym sessions, it’s important to be consistent when it comes to committing to monthly savings or investments. Consistent effort is more likely to yield consistent results.

“If you keep doing the same things every day, you’ll only stay good at those specific things.”

Joe bases his clients’ goals on their body type and what they want to achieve, but to really make things work he says you need to adapt the training programme, up the intensity, and mix up the exercises over time. The same could be said for the way you approach your financial goals - whether it’s paying off a loan, saving for your first set of wheels or that road trip with friends. Don’t be afraid of stepping out of your comfort zone – why not challenge yourself to increase the amount you put away or change up your investment approach if it’s going to do you good in the long run?

Read the full article: https://www.sanlam.co.za/blog/articles/Pages/what-can-a-personal-trainer-teach-you-about-financial-fitness.aspx 

April 23 2018 By Sanlam.co.za Financial Planning