EP318 Bissett Financial Fitness Framework

01/17/24 • 6 min

As we step into the new year, it's the perfect time to get motivated and inspired about our financial fitness. In this episode, I draw parallels between physical and financial fitness, illustrating how both exist on a spectrum from beginners to experts.

Dive into the three key elements of the Bissett Financial Fitness Framework: cash flow, savings, and debt management. Just like physical fitness—where cardio, strength training, and lifestyle choices play crucial roles—these financial elements are essential for a balanced and healthy financial life. Whether you're just starting to learn about budgeting or you're a sophisticated investor, this framework can help individuals and businesses alike, so make sure to tune in!

“Tackle your financial life with the Bissett Financial Fitness Framework and become more financially fit.” - Tracey Bissett

This Week on Young Money:

Understanding the Bissett Financial Fitness Framework and its relevance in everyday life.
What physical fitness has in common with financial fitness.
The three key elements of financial fitness.
Practical advice for improving each aspect of your financial health.

Key takeaways:

Recognize where you stand on the financial fitness spectrum and identify areas for improvement.
Cash flow is key in maintaining a stable and balanced financial life.
Savings contribute to financial security and enable personal and business growth.
Debt management is crucial for controlling your future and avoiding financial pitfalls.

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“Tackle your financial life with the Bissett Financial Fitness Framework and become more financially fit.” - Tracey Bissett

This Week on Young Money:

Understanding the Bissett Financial Fitness Framework and its relevance in everyday life.
What physical fitness has in common with financial fitness.
The three key elements of financial fitness.
Practical advice for improving each aspect of your financial health.

Key takeaways:

Recognize where you stand on the financial fitness spectrum and identify areas for improvement.
Cash flow is key in maintaining a stable and balanced financial life.
Savings contribute to financial security and enable personal and business growth.
Debt management is crucial for controlling your future and avoiding financial pitfalls.

Rate, Share & Inspire Other Young Millionaires-in-the-Making

Don’t forget to share your favorite episodes on social media!

Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.

Previous Episode

EP317 Lessons Learned in 2023; 2024 Predictions & Tips

As we bid farewell to 2023 and welcome 2024, it's time to reflect on the past year's financial lessons and look ahead with optimism and preparedness. In this episode, I’m diving into the significant financial events of 2023, from soaring interest rates to the challenges of inflation and job cuts, and how they've shaped our financial behaviors.

Join me as I celebrate Young Money's milestones (including crossing 350,000 downloads!), explore the personal and professional achievements of the year, and discuss the importance of community support and personal health in our financial journeys. I also share predictions for 2024 and practical tips to help you take control of your finances and navigate the uncertainties ahead.

“Reflect on your financial learnings and prepare for a year of taking control of your finances.” - Tracey Bissett

This Week on Young Money:

A review of the financial landscape in 2023, including interest rates, inflation, and job market trends.
The impact of financial stress on Canadians' mental health and well-being.
Celebrating Young Money's achievements and personal milestones.
Predictions for the financial challenges and opportunities in 2024.
Five actionable tips for improving your financial fitness in the new year.

Key takeaways:

Reflect on your financial experiences and learnings from the past year.
Understand the ongoing financial challenges and prepare for them.
Embrace community support and prioritize health alongside financial goals.
Set realistic financial goals and be mindful of your spending habits.
Seek professional advice and support to enhance your financial journey.

Resources Mentioned:

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Don’t forget to share your favorite episodes on social media!

Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.

Next Episode

EP319 Loud Budgeting

Are you ready to challenge the norms of personal finance with the bold trend of loud budgeting? In this episode, I explore this trend, which encourages openly declaring and adhering to your financial goals. Spearheaded by Lukas Battle on social media, this movement marks a departure from quiet luxury, advocating for courageous, value-driven financial decisions. I’ll delve into how this approach not only curbs impulse spending, but also adapts effectively to the current economic landscape.

Listen in as I revisit themes of financial openness from previous episodes, highlighting how discussing finances with others can lead to better decision-making. I also explore loud budgeting's role in addressing financial bullying and influencing consumer behaviors like “buy now, pay later” schemes, emphasizing its impact on personal finance management.

"It’s not ‘I don’t have enough’. It’s ‘I don’t want to spend’.” - Tracey Bissett

This Week on Young Money:

What loud budgeting is and its rise to popularity.
How this trend has shifted the norm from quiet luxury to open financial planning.
Previous episodes that align with the theme of financial openness and accountability.
The role of loud budgeting in current economic scenarios and its impact on consumer behavior.

Key takeaways:

Open discussions about finances can foster better financial decisions and relationships.
Economic conditions influence personal finance strategies.
Aligning financial actions with personal values and goals is key.

Resources Mentioned:

Rate, Share & Inspire Other Young Millionaires-in-the-Making

Don’t forget to share your favorite episodes on social media!

Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.