Active Aussies more likely to keep their finances in shape

New research shows those who play sports regularly are 64% more likely to achieve their financial goals than those who don't.

They say a healthy body equals a healthy mind, but it could mean a healthy bank account too.

According to a new study by AMP, Aussies who play sports regularly are 64% more likely to achieve the majority of their financial goals, compared to those who don’t, with unsporty Aussies more than twice as likely to have no financial goals at all.

Breaking down the research

The research found a clear correlation between people’s sportiness, setting goals and the way they think about their long-term financial futures.

Those who played sport were 66% more likely to make extra super contributions and more than twice as likely to invest in property than those that didn’t.

When it came to specific sports, the study found:

  • Cyclists and netballers (64%) were the most financially-savvy thinkers
  • Golfers (57%) followed by cricketers (51%) were most likely to seek financial advice
  • Golfers were also the savviest savers, with one in three having more than $50,000 put away
  • Australians who played team sports were four times more likely to look to peers for financial advice than the average Aussie.

Other areas where sport can play a role

The research found it was not just your finances where being sporty could lend a hand to a healthy future—Aussies felt their relationships (40%) and careers (29%) were also boosted by an active lifestyle.

AMP’s Director of Customer Experience Rod Finch said the research indicated the formula for success was not only universal, but rarely achieved by chance.

“Goal setting is an indispensable part of setting ourselves up for success and as the world’s best sportspeople show us—almost impossible without a support network and hard work,” Mr Finch said.

He added, no matter how big or small your goal, most people need help to plan, pointing to financial advisers being much like a coach who can help you set goals and create a plan to achieve them.

The importance of a goals-based mindset

AFL legend Leigh Matthews, who has been working with AMP, said he believed that having a goals-based mindset was important in sport, as well as managing in life.

“The one thing that all successful sportspeople have in common is that they set worthwhile and measurable goals,” he said.

“The very best then fully accept the challenge of investing the necessary time, effort and perseverance to find the ways and means to achieve these goals.”

Matthews said during his time playing and coaching in the AFL, he learned that no individual could succeed without help, whether it be from teammates, coaching staff or specialist advisers.

Where to go for assistance

Give your adviser a call to see how they can help you with your financial goals. And, if you don’t have one, you can call us on 131 267 or use our find an adviser tool to locate one nearby.

Meanwhile, if you want help creating a workable budget, try our online budget planner calculator.

If you want to better track your spending, we can give you the ability to view all of your AMP and non-AMP accounts in one place with My AMP. And, if you’re not an AMP customer, you can see how it works after using our goals explorer tool, which allows you to prioritise your short and long-term goals.

You may also want to check out the AMP Bett3r Account, which can make managing your money easier, as it allows you to divide your money into pay, save and spend subaccounts.

 

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Any advice in this page is general in nature and is provided by AMP Life Limited ABN 84 079 300 379 (AMP Life). The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on this advice, you should consider the appropriateness of this advice having regard to those matters. AMP Bett3r Account is issued by AMP Bank Limited ABN 15 081 596 009, AFSL 234517. Consider the terms and conditions available on request by calling 13 30 30 or at amp.com.au/bett3r and whether this product is appropriate for you. Fees and charges apply.

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