How to Master Your Finances like an Olympian
Not only were the 2014 Sochi Olympics inspiring, but they were also a testament to the amazing capabilities of the human body and to team spirit.
If we can learn anything from these elite and often death-defying athletes, it’s the importance of training, commitment and hope. These same principles can be applied to those of us watching our budgets at home. Although we might not be battling for gold-medal glory, when it comes to managing personal finance, we can take quite a few cues from Olympic athletes. Here, I show you the steps it takes to become a Financial Olympian.
Step One: Education
Mastering personal finances is a skill, which means you need to take time for training and education. Just like skiers have to learn how to control their body on the slopes, we must to learn how to control what we do with our income and spending habits. Luckily, brightpeak recognizes the importance of this crucial step and provides many resources and tools you can use to better understand your finances. Check out this blog post to learn the basics of life insurance, or check out our resource section for ebooks on everything from building financial safeguards to healthy relationship advice.
Step Two: Planning
Now that you have a general understanding of what financial steps you should take, it’s time to plan them out. Like a figure skater choreographing his routine or ski jumper calculating her jump, it all takes careful goal setting and strategy. Learning how to budget and planning for financial setbacks is crucial for anyone looking to become a Financial Olympian.
Step Three: Commitment
Olympic athletes put their bodies to the test on a regular basis. They’re sore, blistered and tired, yet still remain relentless towards their goal. Those who missed practice or put off training aren’t holding medals today. It all comes down to commitment, and when on the quest towards financial strength, staying dedicated to your financial plan is critical. We know that willpower can be exhaustible, which is why we put together a guide to keeping your commitments (because everyone needs a little nudge every once in a while).
Step Four: Handling Victory and Defeat
Months, years and decades of training culminate in one defining moment for Olympic athletes. As viewers, we witness both the ecstasy of winning and devastation of heartbreak among the participants. In our own lives, the narrative is much the same – we have good times, and we have bad times. The shining light, however, is that being financially prepared for those bad times keeps us confident and optimistic for a brighter future. Setbacks happen, losing happens, but a true Olympian doesn’t let that fear hold them back. A Financial Olympian takes the same cue – with solid education, planning and dedication – you can go for the gold and be prepared.
Written by Ashley Haugen
This blog post is from the Author's perspective and doesn't speak for brightpeak financial. Contact brightpeak if you want to know more about brightpeak products, and keep in mind that they are not available in all states and there are some limitations (some exclusions and restrictions may apply).