May 17
Financial Fitness
Posted by Peter Marmara-Stewart at Thursday, May 17, 2018
Financial Fitness. From these 2 words, you would know that they are basically about finances and physical health. How can you tell if a person is financially fit?
On the article What does being financially fit look like? By Paul Feeny, he discussed the outward signs of being financially fit, and the key on how to improve one’s financial literacy and fitness.
Below are results of the commissioned online survey done in 2016 on 1,617 Australian workers aged 18 years and over to ascertain their financial fitness, as detailed on the article:
All respondents were currently employed (either full time, part-time or casual). The results from this research found:
29% of Australians were financially unfit, with a fitness level of less than 95 out of 200.
32% of Australians had average financial fitness, with a fitness level of between 95 to 125 out of 200.
30% of Australians were financially fit, with a fitness level of between 125 to 160 out of 200.
9% of Australians were financially super fit, with a fitness level of above 160 out of 200.
The average financial fitness of Australians is 50%, with a fitness score of 113 out of 200.
It is common for most people to assume that they are financially fit and literate because they are professionals and have attained high education. But in reality, more and more people are worried about their financial health and are now willing to take charge to better their future.
So what does financial fitness look like? One of the major keys to being financially fit is to have a plan.
According to the article, “The same research referred to above found Australians are almost four times more likely to be financially fit, or indeed, super fit when they have a comprehensive plan, as opposed to those with no plan at all. When an individual engages an adviser to build a plan, their level of financial fitness is 30% higher than those without a plan. So, the best way to improve the financial fitness of Australians is to ensure they can build a comprehensive financial plan.“
A plan will give you a starting point to your financial journey. A reliable financial adviser is what you need; to provide you with an in-depth financial plan to make you more financially fit and literate. So, if you are looking to get in shape financial-wise, this is a great opportunity to join our PCR family, and become financially fit!
On the article What does being financially fit look like? By Paul Feeny, he discussed the outward signs of being financially fit, and the key on how to improve one’s financial literacy and fitness.
Below are results of the commissioned online survey done in 2016 on 1,617 Australian workers aged 18 years and over to ascertain their financial fitness, as detailed on the article:
All respondents were currently employed (either full time, part-time or casual). The results from this research found:
29% of Australians were financially unfit, with a fitness level of less than 95 out of 200.
32% of Australians had average financial fitness, with a fitness level of between 95 to 125 out of 200.
30% of Australians were financially fit, with a fitness level of between 125 to 160 out of 200.
9% of Australians were financially super fit, with a fitness level of above 160 out of 200.
The average financial fitness of Australians is 50%, with a fitness score of 113 out of 200.
It is common for most people to assume that they are financially fit and literate because they are professionals and have attained high education. But in reality, more and more people are worried about their financial health and are now willing to take charge to better their future.
So what does financial fitness look like? One of the major keys to being financially fit is to have a plan.
According to the article, “The same research referred to above found Australians are almost four times more likely to be financially fit, or indeed, super fit when they have a comprehensive plan, as opposed to those with no plan at all. When an individual engages an adviser to build a plan, their level of financial fitness is 30% higher than those without a plan. So, the best way to improve the financial fitness of Australians is to ensure they can build a comprehensive financial plan.“
A plan will give you a starting point to your financial journey. A reliable financial adviser is what you need; to provide you with an in-depth financial plan to make you more financially fit and literate. So, if you are looking to get in shape financial-wise, this is a great opportunity to join our PCR family, and become financially fit!