There are very few things that people delay more than taking steps to improve their finances.
It’s cliché, but I frequently compare getting financially fit to getting physically fit. We all know we should eat healthy and exercise regularly, yet most people don’t abide by these simple rules. Perhaps the lack of immediate results is what discourages people from going to the gym regularly and avoiding that late-night snack. For others it comes down to struggling to find the time or maintain the discipline required to live a healthy lifestyle.
Much of these problems could be alleviated if there was a magical gym that extended life expectancy and permanently improved physical health after just a single 30 minute workout. Unfortunately, this isn’t the way it works. When it comes to personal finance, however, a single 30-minute activity can make a sustainable improvement in your financial well-being for the rest of your life.
Obstacles To Getting Fiscally Fit
A common problem people face with personal finance is a lack of clear cut rules for financial success. Financial success – and the path to achieving it – is different for everyone. We get paralyzed by the number of choices and trying to decide where to start.
We also have to deal with the fact that humans aren’t wired to always make the best personal finance decisions. Behavioral biases, both cognitive and emotional, are tremendous barriers to financial success.
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