Football Week: Who’s Your Financial Coach?

Everyone knows who the coach is when watching a football game on television.

Usually, he’s wearing a headset and appears to need a change in his blood pressure medication. He’s also in the middle of the action, working with rookies as well as veteran players to perfect the team’s efforts to win the game.

There’s a lot that coaches do that doesn’t show during a game broadcast, however. From offseason planning to in-season workouts and practices, coaches use their experience and expertise to help those under their guidance get better.

In the same way, having a financial coach can help you succeed and achieve your goals.

  • Training

Football players at any level, from high school to professional, have a strict regimen of training they need to do to be physically and mentally prepared for a season. Running and lifting weights are important to physical preparation.

Also critical to a football player’s success is taking care of himself after a game. When injured, taking appropriate steps to address the injury and working to get healthy again is paramount for any player.

In your financial life, there are many similarities.

Having guidelines in place for a strict savings program is important for anyone to reach their financial goals, whether that means retirement, a child’s college, buying a new home or purchasing a new car.

More importantly, most of us have been “injured” financially at some point in our lives. Working with a coach to take appropriate steps to address your issue can not only help you get back in the game, but also will also provide accountability while you work to be “healthy” again.

  • Practice

Football practices can be grueling and physically demanding. Repetition is used to make sure each part of the game plan is executed to perfection, and consistency is required for the repetition to be a success.

Football players also watch a great deal of game film. Seeing what they did well, and where they can improve, is important to taking a step forward the next week. Players learn from both successes and failures.

However, teams also watch film of their opponents. What are other teams doing that makes them successful? Is there anything the team can learn from someone else’s victory?

In the same way, you need financial practice.

A commitment to consistency can make anyone’s savings plan become a reality. A coach can help you put together a plan, and can stress the repetition required to succeed in your savings goals.

Learning from past success and failures is also important. Working with a coach, you can celebrate where you have met challenges and learn from where circumstances have taken away from your goals. And coaches can provide education from the successes of others, offering opportunities that could be implemented into your savings program to increase your likelihood of success.

  • Game Time

After all the workouts and weight lifting, all the practices and game film review, teams ultimately have to get on the field and prove their worth against an opponent. These games excite millions of fans every week, whether it’s on Friday night, Saturday or Sunday.

While there might not be a literal field of play for you to step onto in your financial life, implementing and committing to these disciplines will ultimately lead to victory in your financial life. The “win” in your life might be signing your name on a mortgage, dropping your son or daughter off at college, or submitting your retirement at work. While those events are happening, your coach should still be by your side, making sure you’re signing a good mortgage or that you saved enough for college or retirement.

Having a coach in your financial life can help you reach your goals.

Who in your life can be, or already is, your financial coach? Share your stories with us!

This entry was posted in California, Chicago, Florida - Central, Florida - South, New Jersey, New York, Personal Banking and tagged , , , , , , , , . Bookmark the permalink.

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