Definition Of Financial Fitness
A senior practicing weight training at gym photo credit.
Definition of financial fitness. N brit 1 any annual period at the end of which a firm s accounts are made up. 13 days ago financial fitness is holistic financial planning that encompasses multiple areas within a person s investment and insurance portfolio. It is named financial fitness because being financially secure is a marathon and not a sprint. Assets might include cash savings stocks bonds retirement accounts real estate and anything else of value such as cars or collectibles.
Adapted from the rutgers cooperative extension financial fitness quiz center for financial security cfs financial capability scale. Financial fitness is a daily practice that requires consistent effort. Copyright 2012 campbell r. 2 the annual period ending april 5 over which budget estimates are made by the british government and which functions as the income tax year u s.
Physical fitness fit the matching of the investor s requirements and needs such as risk tolerance and growth potential preference with a specific investment. And canadian equivalent fiscal year. Financial fitness in your investments requires marathon thinking not a sprinter s mindset. After reviewing the components of financial fitness this session will provide an overview of measures of financial capability and well being as well as practical applications of program measures in the field.
To implement the right of the holder of an option to buy in the case of a call or sell in the case of a put the underlying security. These assessments are provided by rutgers s new jersey agricultural experiment station njaes and the university of wisconsin madison center for financial security cfs. It is making choices that are in alignment with priorities and being generous with your wealth. Financial fitness is a goal for many people but achieving fitness in terms of money management may require a combination of financial education coaching and financial access.
It is living in a way that does not exceed income earned or put financial strain on savings goals.