By Dr. Audrey Reed
Money fitness does not mean your dollars are
thinner than they’ve ever been before;
this year, we are fattening up those dollars.
We know the routines necessary for becoming physically
fit -- now let’s become financially fit.
It’s like the time of the year when we
look at our bodies and make the decision that
summer is on its way and we take the time to
shed a few pounds. We increase our exercise,
shake of the winter pounds, and move that New
Year’s Resolution into high gear (in some
cases, any gear to get us going).
At the same time we were making that physical
resolution, most of us were making some resolution
to fatten out wallets by taking better care of
our money situation or to have more money in
the new year.
We can complain about the economy like we would
complain about our bodies. Complaining doesn’t
get us more fit. Action in the body and action
with our money is the only way to become Money
Fit. Just as people who are physically fit have
routines, people who are money fit have routines
and certain exercises they do every day to stay
conscious with their money. Now if you are financially
fit, these practices will fine-tune the routine:
Ten Beginning Steps to Money Fitness
1. Money Counting Calories
- Know how much you spend.
- Count your money in the
- Keep track of how much
you spend during the day.
- Write it down in a small
journal what you buy, the cost and whether
you used cash or credit
- Count your money in the
evening at the end of your day.
Begin to see where you are spending
money that is extraneous or
has a heavy fat content.
you can ask if you want it,
need it, have to have it or if it
is a good “value for value.” Value
for value means that the money exchange and
the product or services purchased are worth
of hours you had to work for it (like a chocolate
bar for the allotted amount of minutes of
exercise required to offset the calorie intake).
2. Respect and Honor
Keep your money in order.
In your wallet, place all
fives, all the
tens, etc. Face them in the
same direction: money and
of money are attached
3. Light Weights
Put all your extra change in
a box with a lid or in a piggy
will assure you a savings
of $25-$40 per month practiced.
4. Reaching for the Heavy Weights
When you don’t buy something, say, “Wow,
I just saved myself $3.00” and put the
money in the piggy bank. That’s real
5. Jumping Rope
Go on a scavenger hunt of all
your bags, pockets, knapsacks,
clothing, inserts of
sneakers or running shoes (most
runners I know put a
$5 bill under the insole of
their running shoe when
they don’t have a pocket in their shorts),
all the drawers in your house or office, etc.
You’ll be surprised at what you’ll
turn up. The last time I did this, I found
over $200.00 in change and cash. Do it with
Turn on great dance music -- moving and saving
both at the same time.
6. Kick Boxing
Balance your checkbook every
month. Banks are not gods.
They do make
mistakes. Check all the
charges on your credit card
statements. I have a great
routine for making
this easier than you
can imagine in #7.
7. Toweling Off
Place a post it on the back
of each credit card. Every
you use it,
write the date and the
amount you are spending on
the post-it. This exercise
you to see what
spending has been and you can
match the spending to the monthly
when it arrives. Practicing
the system shows you the number
of money calories you are expending.
It gives you new choices about
using the card.
8. Protein Morsel
Owe a balance? Write the balance
on the top of the post it.
This practice gives you the
9. Buddy System
Do the exercises with a friend.
Support each other in the practices.
10. Power Shakes
It is important to shake things
up. New practices help you
money. Celebrate your successes.
Recognize the abundances
and be grateful
for all that comes forward.
Gratitude itself is a fabulous
Congratulations on your new
routine and your money fitness.
Dr. Audrey Reed is the founder
of Works in Progress, Inc.,
a personal and business
She is a successful businesswoman,
speaker, author of Money ToolBox
for Women and radio talk show
host. She is a requested radio
television expert. Visit her
website at: www.draudreyreed.com