Sportspeople tend to be fiscally fit too

IF YOUR golf clubs have been under wraps, it could be worth dusting them off.

Research by AMP has found Australians who play sport regularly are 64% more likely to achieve their financial goals than those who don’t.

With the weather warming up, plenty of us will be thinking about getting in better shape.

The health benefits of physical activity are well documented, but AMP’s study has also found a clear link between our sportiness and the way we manage our money. According to the survey, playing sport on a regular basis makes us more likely to think about our long-term financial wellbeing.

As a guide, people who frequently play sport are 66% more likely to make extra contributions to their super fund, and more than twice as likely to own an investment property as less active people.

AMP found cyclists and netballers were among the nation’s most financially savvy thinkers. Cricketers tended to use a financial

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A number of overseas studies confirm that physical and financial health often go hand in hand.

adviser, and golfers topped the league table for personal savings – with one in three having more than $50,000 in savings.

When you think about it, these results aren’t all that surprising. Keen sportspeople often achieve success by setting personal or team-based goals. So it’s a natural step to set goals in other areas of life such as money management.

A number of overseas studies confirm physical and financial health often go hand in hand.

One group of US researchers explained the link, saying people who made healthy choices today to enjoy good health tomorrow were also more likely to regularly put money aside to achieve greater financial security in the future.

It’s fair to say there’s another link between physical health and fiscal fitness – both can be achieved when you make it part of a regular routine.

Getting physically fit involves taking the time to exercise regularly. It may not happen overnight, but your fitness should improve over time.

The same applies to financial security. It’s all about developing and sticking to good money habits – like using a budget to gain control of your cash, spending less than you earn, and saving and investing for the long term. It’s not hard and it delivers great results without working up a sweat.

Take a look at the MoneySmart website for sensible tips on managing your money.

Paul Clitheroe is a founding director of financial planning firm ipac, chairman of the Australian Government Financial Literacy Board and chief commentator for Money Magazine.