MY LACK OF FINANCIAL FITNESS
By: Emi Bartholomew
10/17/18
Hi. My name is Emi and I am an almost college graduate whose classes skipped over the budgeting and savings part of life preparation.
As a result, my budget plan is simple: spend money on what I need and want right now. But I suspect my plan lacks long-term goals.
I am not saving money for anything: emergencies, additional education or training, healthcare, or retirement. Frankly, I’m a little overwhelmed by all of it. While training for my first nine-to-five job, I had to choose what percentage of my income I wanted going towards my 401K. I opted to invest nothing. Smart, I know.
In short, I am as financially ignorant as humanly possible.
I am just now realizing this gap and that I want to become comfortable with both long- and short-term finances. I’ve made a list of four areas (shall we call them goals?) that I think will make me feel more financially fit:
Control over my day-to-day finances means I’ll have enough money to provide for my essentials: rent, phone, food, car maintenance, healthcare, and other necessities.
Ability to cope with financial shock includes a plan to cover things like: hospital visits, car crashes, random household failures (dishwasher, heating, plumbing), and pretty much anything I don’t expect or want but still have to pay for.
Freedom to financially enjoy my life means having money for spontaneous, fun expenses. Things like eating out, date nights, Ferris wheel rides, and other excursions and vacations will be affordable to me.
Power to achieve other financial goals suggests some day I may want to buy a newer car, or rent a nicer apartment, or start a side business. I’m beginning to realize I need to create a plan if I ever want any of these things to happen.
So, to actually become financially fit, I will need to prepare for short-term (day-to-day), long-term (in my future), and unexpected (broken bones) expenses. The journey is an uphill battle for me, folks, but I’ve decided I’m giving it a go.
In fact, I am realizing I want to be prepared for all kinds of expenses. The problem will be achieving “prepared” status; I don't even know where to start.
If you struggle with your financial fitness as well, you might feel the pain I feel. Like me, you may want to feel more in control of your finances but aren’t sure where to start. That gap (or chasm) can feel daunting, but this is why I am excited about Financially Fit Employees (FFE). I believe FFE can be a useful tool to help close the gap and help me reach my personal financial goals. I think FFE can help you too.
