Sunday, January 23, 2011

Start the year as a sample of BCS


It is here.

One of the most important days of the year for sports fans. Tonight, of course, we know who will be able to claim the title at the national championship of college football for the following year; and what the school's students, staff, alumni and fans will be able to boast of their victory for many, many years to come.

Although my alma mater not participants, I'll be watching the Championship tonight with so many of you. How to judge the performance — catches which should have been caught, runs the incredible open field and the "what were they thinking" coaching decisions — I wonder about parallels to become a champion with our financial planning.

We all know that the amount of work that goes into being a champion to nothing. Also do a championship team, or make a good school or to address the most important financial topics that weighed on our minds in 2010. Samples have been successful because of the importance that they put on overcoming their shortcomings on a daily basis. The improvement is a constant state of mind.

It is interesting to hear clips of print samples. Successful athletes when asked about the big game, again not brag, taunt or predict. Tell you how they are focused on the practice of tomorrow, or the preparation necessary to win the big game, rather than the game itself.

There is an important takeaway here for our personal financial planning. Things like completing a budget, or create a financial plan, often require work for grunted and time to achieve. It is a frustrating process! And often our success is illusory because we focus on the game, rather than the steps needed to win.

Then, as we become bombarded with rumors about the economy, QE2 and all the new slogan that we learn in 2011, think what it would focus the athlete success to succeed … these factors outside of our control, or realm, daily activities and attitude that we can create?

I encourage you as we begin 2011 with great hopes and expectations, to write the things you can do on a daily basis to be more conscious about the areas of your finances that need improvement. It not to say watching your values or equity investment on a daily basis; teams don't win by just watching the film. But, be aware of the things that will lead to an improvement: spending habits, seeking at all times to increase efficiencies and improve your knowledge. They also don't focus on predictions (and here's why you should never), because the teams provided and sample are beyond their control (and never correct).

For help, take advantage of resources like the FPA site, blog or your local FPA Member for any further coaching that you need. Searching through the great content that was added during the last year for information and guidance to the financial challenges of life.

And good luck for your financial success in 2011!

robertSchmanskyRobert Schmansky, CFP ?
Financial Advisor
Healthy capital, LLC
Royal Oak, MI

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