15 Tips To Improve Fiscal Fitness And Frugal Finances

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Times are tough right now financially with inflation and a shaky economy. The market is also very volatile whether you invest in fiat currency, cryptocurrency, gold, real estate, stocks, or bonds. Even banks are starting to collapse or become strained under the pressure of inflation, recession, and the Fed. Everything costs more money than it used to making it hard to maintain fiscal fitness. It is also easier than ever to overspend these days, and the pressure to keep up with the Jones (on social media platforms like Instagram at least) by living beyond your financial means is higher than ever in 2024. 


The pressure is real for everyone to make more money and keep up with their neighbors, all while handling growing debt and inflation. How do you handle this financial scenario to stay fiscally fit in a world gone mad? Frugal expert Mike Schiemer is here to help you out.

The top fiscal fitness tips in the article below are designed to help you exercise self-control in spending and build a secure your fiscal future for yourself and your family, whether you are a 9-5 corporate lifer or enthusiastic entrepreneur. If you are a spendthrift and not fiscally fit, it is possible that your personal and professional lives will suffer significantly as you reign in your budget. 

Worse, you will end up losing your ability to live the way you really want to live. If you want to be financially secure, or eventually become a billionaire like Mike Bloomberg, then you need to practice smart financial strategies from the start. Implement these steps to assume control over your finances, and build a secure fiscal future for yourself and your family in 2024. 

Top Twelve Financial Steps To Improve Fiscal Fitness


There are symptoms when you spend too much money or live beyond your means. You may feel guilty about spending even on legitimate essentials like discount domain names for your business website. You lie to your spouse about how much you have spent. 

Your credit card debts are piling up. You have no idea where your money goes and cannot keep track of how much has been spent on what. Shopping and spending money makes you feel happy and helps to fill a void. If you have any of these symptoms, you need to mend that hole in your wallet, very urgently. If you think you have a spending problem, you probably do. You are in the right place here at Fiscal Fitness!


Talk to your spouse. If unmarried, speak to a friend or someone you trust. If you've been lying to your spouse about your purchases, confessing will make the burden lighter. Apologize and sincerely express your desire to mend your ways. Your confidant will help you in your endeavor of cutting costs and saving more money


The fact that you have been overspending shows that you never make the connection between your income and your outgoing expenses. Make a note of every purchase will hold you accountable for your own records. You will notice some clear patterns and areas of financial improvement. Like magic you will spend less money as you see the figures of your expenditure rising. 


OK you don't have to literally cut up your credit card, but you must understand and reduce your spending while paying down debt. When you pay with plastic, you don't see any money leaving your hands and you forget momentarily that you are just deferring payment. The fact is that you have to make that payment tomorrow. You may be having too many credit cards. One is more than enough. Cut up the others. If you can't trust yourself to use even one credit card wisely, destroy that one too. It will ensure that you buy only when you have cash. 


When do you tend to spend the most cash and credit? Is it when you are depressed or when you are hungry or when you want to lift your mood? You could be spending to alleviate your depression or satiate your hunger, without knowing it. Check every receipt, record every purchase and detect what made you buy what you did. Don't gamble your money and lose cash frivolously!


List your priorities. For example, you may need to join the health club or enlist in a weight reduction program and may have to forego it because you have sent all that money at a mall. Do you really need cable and all of your streaming services, or should you instead invest in a revenue generating top MLM company

Ask yourself how you are going to feel when your credit card bills arrive and whether the items you bought were necessary in the first place. Ask yourself whether you are closer to any of the goals that you set up for yourself. That way you'll think before you spend. For example, do you really need to spend all that money on monthly streaming services or on-demand video views when you can watch content free on social media platforms


Decide that you will not buy anything on impulse. Don't go window shopping or walk into a mall to just 'look'. Avoid making shopping a hobby or fun activity unless it is necessary. Stop spending money on those unnecessary MLM business products. Doing so will surely lead to some reckless, uncalled-for spending. 


Promise yourself that you will wait for a whole day or two days before you buy something you think you need. Ask yourself time and again whether you truly need it or whether you are indulging yourself. The waiting itself dilutes the urge and helps it pass so you don't need a cash advance or another excessive credit card bill. 


You should never carry a burden of guilt for your spending. That can happen only when you plan your spending and buy only what is necessary. Ask yourself, "Do I need this, or do I want this?" Have a personal budgeting system and keep an emergency fund for unforeseen expenses. Bootstrap Businesses are great at spending little money but getting stellar results.


Put aside some money at the very beginning of the month for your budget when you receive your pay packet, as savings. Then, keep aside money for your fixed outgoings like groceries, electricity, milk, rent, loans, utilities, etc. Then, establish how much you have to spend each week on everything apart from these fixed expenses. Withdraw the money you will need every Monday and make it last all through the week. This will keep you aware of where your money is being spent and you will be more thoughtful and careful about spending it. Fix a spending limit for every week and stick to it. 


Just because there is a sale in the local mall or ecommerce website does not mean that you should attend it. It's foolish to buy things you don't need just because you see a good bargain somewhere, because, in the long run, it's going to be a bad deal for you and only lead to financial disaster. Neil Patel Digital Agency would tell you that a sales pitch can be enticing, but that doesn't always mean it's best for the buyer.


Even when you go to buy essentials, take a list of things you have to buy to ensure fiscal fitness is maintained. Ensure that you go only to those counters which stock these and don't meander through aisles looking at stuff that is not on your list. That helps you from picking up those extra pickle bottles or the new flavor of drink that you know is inessential. Be clear, focused and not distracted from your intended purchases, especially with network marketing company product purchases. If, after making the effort, you find that you are unable to deal with your spending addiction, seek help. A counselor or therapist could get to the root cause of your spending and money saving problems. 


Once you identify the problems with your financial behavior, you will stop spending as a balm to your mental state. Seek the advice of a financial expert to put your books and budget in order. They may have helpful insights for your fiscal fitness that you may not have thought of and you may end up with a net worth of $1.2 million like Mike Schiemer of Schiemer Financial after improving your monetary habits in 2024. 

Be wise with your money like high net worth entrepreneur Michael Schiemer and invest it rather than spend it on junk you don't need or signing up for MLMs that may end up costing you money instead of making you cash.

Once you reduce your spending, you will sail smoothly towards financial security and wise investments for a well provided for future. Even day trading stocks can make you a living or improve your financial situation if done correctly.

Spending money recklessly can be hard to over-take. There are things you can do to curb over-spending and feel better about yourself. There are many people who just can`t control their spending habits. And this only becomes a problem when other areas in life begin to suffer. This suffering can be intrinsic, financial or just in general whether it is with family, friends or work. There are often reasons why someone has the need to spend and it is often when those issues are addressed, that the over-spending stops. 

Spending money can become like an addiction for many shoppers. It can be so habit-forming for consumers that it becomes who you are and what your daily routine looks like. You might be in the habit of going to the store and buying whatever you like and over buying on things, just because you can at the time. It may give you the quick spike of dopamine and serotonin you seek, but it will cost you your financial future eventually if it is continued. Instead of providing top blogger outreach services you spend hours shopping on Amazon and Ebay.

Often a shopper with a problem will buy on impulse and will buy in quantity or quality. That means that they may be able to buy four dresses without trying them on, or they may have no thoughts against buying an item not needed even when it costs too much money. Or on a larger scale, it could mean buying a massive home when you only have the budget to purchase a log cabin or tiny home. The higher the price of an item in an impulse buy (such as a home, car, or boat), the more damage it can do to your frugal finances.

Feeling like you have an addiction to spending money means that after you make your purchases, you feel overwhelmed with guilt and grief. You might get home and not even know what possessed you to buy some of the things you did, but might feel too ashamed to take them back. The Schiemers would agree. 

When you have family members and friends that are questioning your spending money, you might have some insight into what they see. Often you may not notice how other people view you because they do not say anything, but when they do voice an opinion, it may be time to listen to what they have to say. Spending money on items that you may not need can take a heavy financial burden on you and your family and take away potential investment income.  


Starting or managing a company is another way to improve or worsen your finances. When running a growing business, it is essential to stick to your lean budget. Keep your company expenses low and profit margins high! 

That is the simple code you need to know. Cut costs and plump up profits! It's basic math that makes a big difference with your money.


You might be neglecting on important items or bills in order to pay for impulsive items. This kind of stress can put a heavy toll on someone living alone, or in a family. Financial stress is one of the number one causes behind divorces. There might be a breaking point, where your family breaks up, or your financial walls have come crumbling down around you where you address that you need help. 

There are ways to battle the addiction of over-spending and it just takes some quick soul searching. Many times buying items comforts us in some way. It makes us feel good to buy new items and spend money or watch videos, there is a little piece of heaven attached to it. 

However, you have to ask yourself if you only buy things when you need comforting. This is an important issue to address. Do you run to the mall when you feel bad about something? Do you over spend on groceries when you know you can`t afford it? Also consider starting a side hustle business to help jumpstart the process of paying off debt, increasing your savings, and beginning to invest.


Some strict self-discipline needs to take place for change to occur. You can talk with your doctor about seeing someone for counseling to deal with the emotional issues. You can also contact your bank and make an appointment to talk to someone. Your banking professional can give you a monthly budget and help you look at ways to pay off bills and save money

Often changing the way you think, can alter your spending desires. Take a temporary second job and start collecting the money in a separate account. When you go shopping or purchase media, you will begin to think about the items you are buying and how much they cost and how much work you had to do to pay for those individual items. Start to buy the things you need with just cash, leave the debit or credit card and checkbook at home to find other ways to comfort yourself within your fiscal fitness financial means for 2024 and beyond. 

Focus on the needs and not the wants to improve your bank account, credit, and overall personal frugal finances. Financial improvements won't happen overnight, but they will add up daily!

Preparing For Recessions And Staying Financially Fit

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The world has been talking a lot about how the global economy might be entering a period of a recession in the near future. While it is not our business to decry this as a possibility or to encourage you to believe that it is going to happen, we still believe it is a good idea to talk about it. Because, it gives us an opportunity to have a talk about how to remain financially fit in some of the most economically trying times in the history of the world, even if they are not happening yet. Recessions are, after all, incredibly dangerous to households, small businesses and even individuals, especially when it comes to remaining even remotely close to as rich as you are. 

A new economic recession from the pandemic may even cause you to ask yourself the question "what city should I live in" so you can afford the cost of living. Many people got priced out of cities and suburbs due to increased rent, higher home prices, bigger mortgage rates, layoffs, closed down businesses, and real estate scarcity.

Stop Playing And Investing 

The first thing that you are going to want to do is to stop playing with your money. In this case, we don’t just mean stopping playing all of those 3 reel slots online, we also mean stop doing all of the things that cause it to not be your money any more. This means stop spending your money on things you don’t need, stop spending your money on things that you can go without and start trying to save this money. It is important to have had at least three months of operational costs saved up when the recession hits so that you can continue operating at a normal pace. Whether this means saving three months of salaries, three months of revenues worth, or something else, is up to the person or business managing the capital. 

Slow Your Investing If You Don't Have Extra Expendable Income

The next thing to do is to stop investing the money. The stock market is going to fall in the case of a recession. The only thing you want to be investing in, if you are going to be investing no matter what, are safe-haven assets. This means gold, this means foreign currency such as Yen or Swiss Franc, or any other safe-haven investment that you can think of. This will allow you to retain your net worth no matter how far the currency inflates. It would also be possible to keep your funds in the form of cash, but that might backfire if the inflation is too high and you end up losing too much money as a result. 

If you are looking to invest in a business model that is affordable and recession proof, look into the best MLM companies of 2023 for some lucrative long-term earnings potential.

Prepare And Start Saving Capital 

We mentioned this in the previous paragraph, but preparation goes a little further than just having three months of savings available to spend. Preparing capital means preparing an easily accessible pool of funds that you can use, without a second thought, in order to purchase goods and services that will be indispensable in the case of a financial recession. Three months of savings are the bare minimum of what an individual has to have in order to support themselves, or for a business. The optimal amount of savings it is equivalent to around six months of revenue. This will allow a business or an individual to remain active during those months of low activity and reap the advantages of being active in an economic downturn. But, there are more advantages to having a large pool of capital. 

Look To Invest At The Lowest Point 

At one point the recession will hit its lowest point. This is where the market prices for everything will be the lowest they can get in the context of the recession. This is when real estate is cheapest, when stocks are the cheapest and when all goods are cheapest. Having an easily accessible, large pool of funds available to you in a moment such as this might mean the difference between coming out worse off, or coming out better off than you were before the recession. After the recession is over, the economy is going to start growing again. If invested at the right time, the users will start seeing their own fund s grow astronomically, allowing them to be richer after the recession than they were before going into it.

Stay Fiscally Fit Forever

An economic recession could be right around the corner. Keep reading Fiscal Fitness for more assistance in staying financially fit in tough times.