First of all, a confession. I am neither a super-fit bodybuilder nor a millionaire. So, why should you listen to me about physical fitness or financial wealth?
Think about it. Talking to someone who was born with the genes of a gladiator or had crazy rich Asians for parents wouldn’t necessarily result in useful advice to reach their levels. They’ve always had things their way.
Someone who’s been trying all their life to get fit and/or get rich, however, can share some of the trials and tribulations, and point out pitfalls to avoid.
Take your time
Money is a lot like physical fitness. No matter how much you have of either, you could always use a little more in your life.
But that’s not the only similarity.
The other thing is that you can’t get fit or rich overnight. Unless you strike Toto. But seeing how the odds of that are smaller than getting struck by lightning, and most people spend more on the lottery than they actually win in prize money, you’re better off with rule one – patience.
Most people start out their fitness journey with a big, bombastic declaration. I’ve been guilty of this so many times before. Making a big speech, usually on New Year’s Eve, about how this time, it’s going to be different. There’s always something new to try out – a keto diet, a Peloton, intermittent fasting, CrossFit, whatever’s new and trending on social media.
And despite my best intentions and genuine efforts, after a couple of months I’ll fall back to my old habits.
So why does it keep happening every single time?
There’s a simple answer. I was too impatient.
One personal example I recall was going to the gym for the first time in my life and trying to lift weights. I managed a few tries, but they were difficult. After a few weeks or so, I looked in the mirror and didn’t see any noticeable changes. Feeling frustrated, I stopped.
After speaking to friends, I realised my error. Your body needs time to adjust, and so does your mind. A big shock overnight rarely lasts. One needs the patience to make a plan and stick to it, and to not give up when your goals are not quickly or easily met.
Likewise for financial goals, remind yourself that it’s a marathon, not a sprint. Saving S$500 a month may not seem much, but if you have the patience to stick with it, your savings will grow into something big.
Easy does it
So what’s the solution?
Here’s rule two: Make small and manageable changes. As the old Malay proverb goes, sikit sikit lama lama jadi bukit, which means “little by little, it will become a hill”. Every small contribution that you make regularly will amount into something much bigger at the end of the day.
For example, one change I’ve successfully made is not to order a soft drink whenever I go out to watch a movie. Instead, I bring my bottle of water. Not only is it healthier, I save money. You may think it’s a tiny change, barely worth instituting, but it’s easy to stick to. And over a long enough span of time, the cumulative effect of such a small change will be very beneficial.
Once you’ve gotten used to making small, sustainable changes, you’ll find that making bigger changes gets easier. You may find yourself reading up on healthy living and similarly, ways to grow your money.
For money matters, saving consistently and starting early help a lot. Think of saving money as like an airplane runway – the longer the runway, the more leeway you have to get the plane in the air.
For example, topping up your CPF Special Account by just S$50 a month, which earns an interest of up to 5 per cent per annum, will net you over S$12,200 over a course of 15 years. That’s the power of compound interest. And in other good news, enjoy tax relief on your top-ups too.
Don’t give up
The last, but equally important point I want to make is that whether in your fitness or financial freedom journey, you need to accept that mistakes will be made. It’s inevitable. We are all humans, and we don’t get everything right on the first try.
Whether it’s succumbing to temptation and having a doughnut after dinner, or succumbing to temptation and buying a full set of Batman action figures that cost more than your monthly rent, it’s important to remember not to beat yourself up over every slip.
Negative feelings each time you stumble will add up and make you lose confidence in the long-run. What you can do is to get a trusted friend to check in on you and track your progress. With someone to cheer you on, or slap your wrist if you’re thinking of making bad choices, it might be easier to work towards the goal you want.
Here’s more tips
It’s never too early or late to work towards better wealth and health, no matter what stage of your life.
If these tips for growing your wealth and becoming more physically fit have got you thinking, you may be interested in these helpful videos put out by the CPF Board.
Combining tips to help you improve both your physical fitness and your financial health, they operate on the same basic principle – master the basics first before trying your hand at more advanced techniques.
Here’s the Beginner version, for those of you just starting out:
And if you’re ready to take it up a notch, try out these Intermediate tips:
Real pros can take a look at this:
Your dreams of becoming the best version of yourself aren’t as far away as you may imagine – start with exercising small steps and give it time. All you need to do is remember that an epic journey begins with the decision of taking the first step.
Top image from Pexels and Unsplash.
This is a sponsored article by CPF Board.