MAKING THE RIGHT PLAY – Learn How to Call your Financial Shots


A player, who isn’t in control of his game, is very likely not going to score any goals, let alone win the match. In the same vein, a coach who has no control of his players is either going to get them relegated or himself sacked. Either way, it doesn’t look so good. The same thing applies to your finances, if you’re not in control of your money, it means your money is controlling you and that can have long-range consequences.

Just like a football coach decides which player plays what position at the next crucial game, what tactics to deploy to crush the opponent, what changes has to be made during the game to achieve the best results; you have to be able to perform this same role in the financial field to achieve maximum results.

 

Have a Well-Defined Financial Goal

Now you could be a Mourinho with a squad full of excellent sharp shooters, or more realistically, let’s say you’re Keshi with a handful of good players, the first thing you will need is a well–defined goal and an excellent game plan to achieve it. This goal will inform your squad formation and strategy. A coach that is gunning for the maximum number of goals will usually be on the attack, while one that is trying for a draw or minimize a loss will be strong on defense.

The same thing applies to your finances. It doesn’t matter how much you make, what matters is how you manage your money to achieve your goals. But first you must have a goal. It could be a long-term goal, like working towards buying your first home or a short-term one like saving up for that long deserved holiday. Knowing your goal will help your strategy. Again, it will help your goal if you have a specific game plan. I’m saving up for a holiday becomes, I’ll put N100 into my holiday savings account on the 15th of every month for six months.

 

Make Plans Flexible and Adaptable to Shocks

Now most often than not, even with the most achievable goals and perfect game plans in place, events can decide to take a turn for the unexpected. Like when your star striker suddenly decides to score an own goa, that puts the opposing team in the lead. A good coach must be able to adapt his strategy so that the team doesn’t lose sight of the goal.

In the same vein, even though it is important to be specific, you should also give yourself room to be flexible to accommodate unexpected events. An attitude of flexibility goes a long way with dealing with uncertainty. This is why adequate planning is important. While strategizing, it’s important to minimize risks that can upset your goal. If the unexpected appears, you must be able to adjust your expenses and or your investments to accommodate the situation so that your goal is not adversely affected and is still attainable. Learning to dribble expertly through the financial field, without getting a red card or injured and still attaining your goal is one of the ways of staying in control of the game and ultimately calling the shots.

Keep your Eye on the Ball

Lastly, only a disciplined coach sticks to his game plan and only a disciplined team keeps to the strategy. An undisciplined coach who fields a chaotic strategy and is swayed off the tracks by every distraction is headed for failure. It’s the same with finances, without discipline you cannot achieve anything. Like any good skill, discipline gets better with practice. The more you stick to plan, the better you get at it.  Having control over your finances requires a high dose of discipline, because that is what will help you stick to the winning strategy.

So it’s really that easy.  Control the shots, control the game; control your money, control your life.

If you need help in deciding how to build a strategy that works for you, why not give one of our KISS agents a call on 0700-MERISTEM. They are eagerly waiting to help you out.

 

No Comments Yet

Comments are closed