With hundreds of millions of people each year making New
Year’s resolutions, there is really no way to know what the most common ones
are. But it would be a reasonably safe
bet that they pertain to either finances or dieting.
Why finances? Money
continues to be—always will be, I believe—the leading cause of stress in this
country according to the American Psychological Association. Atop the list of financial concerns: not
having enough emergency savings. The PwC
Employee Financial Wellness Survey of 2017 showed that this was true across all
generations, from Boomers to Millennials.
Little wonder, given the abysmal state of most families’ savings
accounts. A Bankrate survey, also taken
last year, found that about half of those earning $75,000 or more could not
easily pay for a $500 car repair or a $1000 emergency room bill. It was predictably worse among those making
less than $75,000.
While the subject of money is fraught with emotion and
usually (especially for men) related to self-esteem, we could say the same of
dieting (especially for women). It’s
about self-image. We don’t like the
reflection in the mirror and determine to do something about it. One source put the number of Americans
suffering from low self-esteem at 85%.
Each January you may notice there are more advertisements
for fitness gyms in the media. Savvy
marketers want their company to be the answer to your New Year’s resolution,
for a price. Can we find financial AND
self-image security in 2018? I want to
offer just a few ideas on how to save money while staying fit.
Skip the gym if it’s
not free. Sure, there’s so much to
do at the gym and it’s a generally comfortable environment for doing it. But is there any sense in paying to work out
at the gym if you hire someone to shovel the snow off your driveway, always
look for the parking spot closest to your destination, or mow your lawn with a
riding mower? Get your exercise for free
while accomplishing something worthwhile.
Slaving at a rowing machine accomplishes nothing; it seems so pointless
to me. Go play with the kids or
grandkids instead. Besides, six months
from now the financial planners will be advising people to evaluate their
expenses—like credit cards with fees or gym memberships that aren’t being
used—and advise them to “trim the fat”.
Ouch.
Don’t buy fancy
exercise equipment either. Despite
our good intentions it tends to fall out of use after a few weeks or months;
and it costs money and takes up space. A
basketball with a hoop; a bat, ball, and glove; a Frisbee: they’re cheaper,
more fun, and can increase interaction with family or friends, thus feeding
your social needs, too.
Evaluate that
shoppers’ club membership. I’ve
managed to walk out of Costco exactly once with less than $50 in food
purchases. I’ve done the numbers: there are two or three things I buy there
often enough and which come at such a savings over the other stores where I can
purchase them that it makes it worth the $55 membership fee. (Or is it $65 now? Any time the price goes up is a good time to
re-evaluate what you get for your money.)
On top of that, I read recently that shopping at these mega-stores tends
to increase the amount of packaged foods we eat at the expense of fresh
food. And you know which one you should
be eating more. Buying in big quantities
can also lead to more waste.
Get more sleep. This is a tough one for most people. There’s just too much calling for our
attention. But getting 7 to 8 hours of
sleep per night is a stress-buster—and stress contributes to weight gain. This one is free.
Automate your
savings. The one feature that makes
401(k) accounts such a successful vehicle for retirement savings is payroll
deduction. Putting the money into the
account is done automatically; the employee never gets his hands on it and
therefore cannot spend it easily or without a good bit of pain inflicted by
Uncle Sam. Take another few dollars from
your paycheck, perhaps the money that would have gone to a gym membership, and
have it deposited into a separate savings account so you have an adequate
rainy-day fund. A Pew survey revealed
that nearly two-thirds of U.S.
Until next time,
Roger
“A cheerful heart is
good medicine, but a crushed spirit dries up the bones.” Proverbs 17:22 NIV®*
*Scripture quotations taken from the Holy Bible, New
International Version® NIV®
Copyright © 1973, 1978, 1984, 2011 by Biblica, Inc.™Used by permission. All rights reserved worldwide.
No comments:
Post a Comment