Staying Financially Fit

Staying financially fit is similar and dissimilar to staying physically fit. Luckily, no long hours of cardio, calorie counting, or weightlifting is needed to stay financially fit. However, the same level of dedication, time and knowledge can be applied to see effective results. Fads and trends don’t just happen with apparel and pop culture. At Integrity Financial we have recognized several trending steps that result in financially fit and happy individuals.

Steps to Being Financially Fit – You Can Do It!

1. Work closely and intelligentlywith your banker:

You’re not compelled to accept whatever your bank says. Though their professional advice is important to seek out, you are an independent person who needs to think wisely before blindly accepting or signing anything.

2. Follow all the procedures to purchase a house:

It is essential to fill out the documents correctly and submit them to the lenders without any delay. Call your lender from time to time, and enquire about the status of your mortgage application. Stack the copies of all the papers in a file. In case, you misplace the original paper, you can use the photo copy of the original document.

3. Take out your credit card from the freezer:

If you keep your plastic card in the freezer for a long period of time, then the credit card company will consider it as an inactive account. Payment history is used to calculate your credit score. Inactive accounts don’t contribute payment history, and this makes a negative influence on your credit score.

4. Stay calm and stick to your plans:

The market trends change throughout the year. Don’t make snap decisions, stick to your original financial plan, save funds in your retirement accounts, and make wise investments. Stay financial disciplined irrespective of the behavior of the market.

5. Balancing your balance sheet:

Net worth is grown by two simple ways; increase assets and/or reduce liabilities.

When mortgage rates drop, saving mortgage interest is a way of reducing overall payments to the mortgage holder. Therefore, you will have more cash in the bank by the end of the loan. Pay close attention to interest rates and call your Integrity Financial Mortgage Banker to run the analysis on a refinance.

6. Get your free credit report and check it once:

You can get a free copy of your credit report once a year. Have a look at the copy of your credit report, and figure out if there is any misleading information on it.

Taking care of your financial fitness can ensure a hassle free life. Manage your finances effectively by making smart, informed decisions. Do you have further questions regarding your financial fitness? Contact us at 727-531-0000 at Integrity Financial Today, we are happy to help you!

 

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