How do you find the balance between spending and saving? How do you make sure you are neither too poor nor too old to enjoy the fruits of your labour?
The balance
As in many things in life, it comes down to balance. Too much or too little of anything can be detrimental to your financial and physical health.
The Plan
Let’s next look at an example of your daily activity, for with any worthwhile goal, there needs to be a plan and purpose to drive you forward.
Physical and financial diet
Physical and financial exercise
Everything from your brain to your biceps to your savings accounts requires a workout.
- Physical exercise: Plan to workout a minimum of 30 minutes daily, three to five times a week.
- Financial exercise: Plan your monthly savings and investment auto-contribution, and your monthly spending by category.
What are your goals?
Your daily activities should be shaped to reflect your priorities in life. We all have approximately 29,200 days in our lifetime (80 years).
How will you spend your remaining days? What if you have only some part of your time left? What are you going to do today?
- Exercise daily.
- Read and expand your world instead of being confined to watching TV.
- Spend time face to face and laughing with loved ones rather than mindlessly scrolling Facebook or 9gag.
- Travel the world and share new experiences with your loved ones.
It’s not about perfection
Not every day will go perfectly. In fact, you should expect that every day will have unexpected occurrences whether it’s a disagreement with your spouse, your child misbehaving, or your clients making last minute changes to decisions already reached.
Every day is a new day, and a chance to do things better and to do things right. Make each day count for your physical and financial well-being and that of your loved ones.
This article first appeared in https://mypf.my