5 Ways to get Financially Fit
This New Year
Written by Marcus by Goldman Sachs
(BPT) - In 2019, many Americans are planning for a "better me" in the year ahead. Gym memberships and diets are at the top of many lists, but what about financial health? Losing debt can be just as important as losing pounds, and financial fitness just as important as physical fitness.
According to a new survey from Marcus by Goldman Sachs(R), 74 percent of Americans think their financial well-being has an impact on their overall health and 64 percent feel they are not in the best financial shape they could be. On top of that, half of those surveyed (50 percent) think it's easier to get into better physical shape than financial shape and 59 percent consider tracking expenses and budgeting to be more stressful than trying a new workout.
Although New Year's resolutions to improve financial fitness may seem daunting, they are achievable, and their effects can be significant. While it is
important to pump iron and feel great physically, it is equally beneficial to pump up your savings and take steps to secure your financial future. Here are five simple ways to help achieve better financial fitness in 2019:
1. Trim down debt: Eliminating debt is a worthy goal shared by many - 78 percent of those surveyed would rather get rid of their debt than lose weight. Consider instead a debt consolidation personal loan such as those provided by Marcus by Goldman Sachs(R), which offers fixed-rate, no-fee personal loans that could help save on interest when compared to high-interest variable rate credit cards.
2. Set a realistic budget: Every financial fitness plan should start by establishing a budget that is both effective and achievable. The first step in creating one is to identify your essentials like mortgage or rent, car payments, tuition