Dr Frank Magwegwe, Nedbank’s Executive for Financial Wellness

Being fit is about more than just your physical health. It’s also about your financial health. Just as physical health and fitness enable you to manage daily stresses and enjoy life, financial fitness gives you more control and confidence when facing financial ups and downs. However, while most people recognise the importance of physical fitness, few of us pay as much attention to our financial health and money fitness.

Fortunately, becoming financially fit is achievable for everyone. It starts with understanding your current financial state, much like how physical fitness journeys begin with a clear assessment – weighing yourself or measuring your heart rate – to set realistic goals. Financial fitness follows the same principle.

Nedbank has made gauging the current state of your money fitness quick and easy with its NedFinHealth Calculator, a free online tool that offers a clear overview of your financial health. 'Financial fitness doesn’t happen overnight. It's built on clarity, consistency, and daily good habits,' explains Nedbank Executive for Financial Wellness and Advisory, Dr Frank Magwegwe. 'Before improving your money habits, you need to clearly see your financial starting point, and the NedFinHealth Calculator was designed to provide that clarity.'

The NedFinHealth Calculator takes you through a few easy questions and then evaluates your finances across the four key money fitness areas of spending, saving, borrowing, and planning. These areas are the foundations for your day-to-day money management and underpin your ability to face financial challenges and achieve your money goals.

By assessing your spending, the calculator helps you see whether you're living within your means. The saving category checks your readiness for short-term shocks and how well you're prepared for your long-term financial plans. Under the borrowing category, it determines how well you manage your debt and how comfortably you control your credit. Finally, the planning category evaluates your habits around thinking ahead, like budgeting effectively or setting clear future financial goals.

Besides giving you an overall financial health score, you’ll get practical insights into what you're already doing well, and where there might be room for improvement. Once you have your score, you're ready to enhance your money fitness. Here, too, Nedbank offers the tools to help you on your #GetMoneyFit journey - from long-term behaviour shifts to small, strategic moves that can immediately improve your money routine.

And by managing your credit card well, you not only unlock lifestyle perks, but also strengthen your credit profile, which can improve your ability to access other lending products down the line. It’s a practical way to stretch your money further while setting yourself up for long-term financial health.

The Nedbank Money App is a great practical tool to help you stay on track with your financial fitness journey. Just as a fitness tracker measures your steps and calories, the Money App enables you to set budgets, track your spending and savings progress, and stay motivated with nudges and alerts. You can also use it to help with the process of switching your bank - giving you a clean start on your money fitness journey, with none of the admin drama.

The app also connects you to other smart tools like the MoneyTracker feature, the My Credit Score dashboard, and Greenbacks Rewards, all of which help you take control of your everyday finances while earning value for how you bank and spend. These solutions work together to turn good habits into lasting gains, making your aspirations for financial fitness highly achievable.

'Getting money fit isn’t about perfection; it’s about taking action. And the first and most important step is simply knowing where you stand,' explains Dr Magwegwe. 'By understanding your current financial health score, you put yourself in control of your money fitness. From there, it's easier to set goals and maintain good habits that lead to lasting financial strength.'

Find out your financial health score and start your journey to #GetMoneyFit today with the NedFinHealth Calculator at personal.nedbank.co.za/learn/financial-health-guide.html.