This is the season of Sports with Tokyo Olympic & Paralympic Games 2020 concluded recently then what better than learning a #Golden lesson on Financial Planning that has been derived from sports.
Sounds sporting right? That is how a Financial lesson could be obtained from Sports.
Find out how:
Identify your Goal
Create a plan/idea/strategy just like the athletes as to what your goal is. What do you want to invest in and why? Once you’re clear with your vision then you can start making suitable investments.
Just like an investment in Gold can help you in your financial crunch through pledging your Gold for a Gold Loan.
The earlier you start the more practised and skilled you are. You will have an extra advantage of time which will eventually add up more wealth into your portfolio. As they say, “The longer the money stays invested, the better it grows”.
Do a self-assessment
It’s very important to assess where are you standing, whatever investment are you making is helping you bridge the gap between your goal or not and accordingly you can change or make improvements in your plan.
Being dedicated, committed and focused on your goal will always make you successful, that’s the same for any athlete or in Financial Planning. You need to be committed to your investments in your Financial Planning exercise.
Identify your mistakes & learn from them
When an athlete performs badly in a match, a true athlete identifies mistakes and learns from them. Similarly, when you start Financial Planning, you may commit some mistakes. These mistakes can prove to be quite expensive therefore you should learn from them and not repeat them again.
Get an expert’s help
Proper training and guidance are a must be it in sports or Financial Planning or any other. Athletes have coaches and other professionals to sharpen their skills and guide them. Similarly, you need to have your Personal Finance expert to view your finances and help you achieve your financial goals.
An expert Financial Institution can understand your goals/needs and suggest you plan as per your Financial requirement as they have multiple options to suit all your big and small goals and requirements.
Sports and Financial Planning have many things in common. There are so many financial lessons you can learn from sports. You just need to have a good eye for these signals and learn from them.