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Savings & Investments

Five steps to financial fitness.

Written by Emma Harrett on Jan 24th, 2024 Time to read: 2 minutes

Many of us prefer to bury our heads in the sand rather than getting our finances in order but, it’s never been more important to ensure you’re as financially fit and well as you can be.

To get you started, here are five healthy steps to help get you on the path to financial fitness…


Set realistic financial goals

Like a balanced diet for your physical health, setting goals can be the first step to better financial fitness.

To get started, review your income, expenses, debts, and savings to get a clear picture of your financial situation. Then, you can set achievable goals and create a monthly budget to help make them a reality.

Own saving money

Like exercise, the more you practice today, the better you will feel tomorrow. Little and often is a great way to start.

Keeping to your goals and automating your finances – by setting up automatic payments to pay bills and deposit savings – are great ways to stay motivated towards saving.


Build an emergency fund

If saving is the workout for your finances, preparing for the unexpected could be the cool-down stretch to prevent injury.

It’s advantageous in order to navigate those turbulent times to save at least three months worth of living expenses in an emergency fund.

Save for retirement

Like lifting weights, over time, you’ll gradually work your way up. That’s exactly the same for putting extra aside for your pension. It’s never too late – or early – to think about retirement.

By investing in your pension regularly over a long period, your money has the potential to grow over time, enabling you to pursue the retirement you deserve.

Seek professional advice

Just like working with a personal trainer, a financial adviser can help maintain your financial fitness.

By investing in financial health, you’re investing in yourself, and it’s about making small, sustainable choices that you can build into your lifestyle that will reward you in years to come.

If you have any questions about getting financially fit, speak to a member of our team directly on 0191 625 0350, or tell us your financial goals and we could help you achieve them.

With investing, your capital is at risk. Investments can fluctuate in value and you may get back less than you invest. This article is not a personal recommendation or financial advice. Tax is subject to an individual’s personal circumstances, and tax rules can change at any time. Pension and ISA eligibility apply.

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With investing your capital is at risk. Investments can fluctuate in value, and you could get back less than you invest.

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