With the Olympics capturing the world’s attention this summer, it’s the perfect time to talk about financial fitness. By financial fitness, we mean mastering your money with the same dedication and confidence an athlete brings to the Olympics, ensuring you feel positive and in control of your money.
Luckily, you don’t need to be superhuman to boost your financial wellbeing. It’s all about adopting simple, consistent habits and using tools like RiseUp to make your life easier. No special genes or 24/7 motivation required.
Let’s dive in and see what we can learn from these elite performers.
1. Goal setting: Your path to financial gold
First off, Olympians are masters of goal setting. They don’t wake up one day and decide to win a gold medal. They set clear, attainable goals and work towards them step by step. This is something we can all do with our finances.
Whether you’re saving for a holiday, paying off debt, or saving for a new pair of shoes, having a goal gives you something to aim for and a sense of accomplishment when you achieve it.
Let’s say you’re planning to save for a dream holiday. Start with a clear goal: “I want to save £1,200 in 12 months.” Break it down into manageable steps, like saving £100 each month. Track your progress and celebrate each milestone along the way.
2. Consistency: Your daily routine
It’s not exciting, but consistency is another hallmark of Olympic success. Athletes train daily, rain or shine, motivated or not. Not every session will be their best and that’s okay! Financial wellbeing requires the same approach.
It’s not about having ironclad willpower but about building routines. Simple actions, like spending just two minutes checking RiseUp Daily each morning for a roundup of your finances, can become habits that keep you on track.
RiseUp Daily helps you be aware of your spending, track your progress and make changes as needed. Over time, this simple habit can really add up to a big boost in your financial wellbeing.
3. Personalised insights: Your secret weapon
Olympic athletes rely on personalised data to fine-tune their training and performance. Every detail – their heart rate, sleep patterns, nutrition – guides their path to success. We might not be trying to get a World Record or shave milliseconds off our personal best, but we can use our financial data to improve our money management.
By understanding our past spending and money habits, we can start making smarter decisions. Knowing where our money goes reveals opportunities to save, cut unnecessary spending and set realistic financial goals. Only when you see the money leaving your account from those unused subscriptions are you likely to cancel them!
RiseUp’s personalised tips and insights transform abstract money goals into actionable steps, helping us build a healthier relationship with money and achieve lasting financial wellbeing. That’s just as impressive as a gold medal in our book!
4. Support: Your financial team
Now, let’s talk support. No Olympian achieves their dreams alone. They have coaches, nutritionists, physios, psychologists, a whole team backing them up and probably even more help we don’t know about! Being good with money isn’t any different.
Asking for help, whether from friends, family, or financial experts, is a strength, not a weakness. It shows you value others’ expertise and want to improve. At RiseUp, our community and in-app support are here to offer advice, share tips and help you stay motivated.
Take part in group challenges, ask questions, and learn from others. Whether it’s advice on saving, investing, or budgeting, having a support system can make the journey to financial wellbeing much smoother and more enjoyable.
So, let’s take inspiration from Olympians this summer, while remembering that managing your money doesn’t require superhuman effort. With a little consistency, clear goals, personalised insights and the right support, you can achieve financial fitness.
Ready to start your journey to financial wellbeing? Download the RiseUp app today and join our community.
