By now, you probably know that the Cleveland Cavaliers won the NBA Championship last night. Although I am not a fan of either team, I did stay up to watch the game because I love sports. Either way, the game was going to be a memorable one and as a sports fan I wanted to watch it!
Regardless of the sport, we can learn a lot from the players and the teams and apply those lessons to our finances.
Change the Game Plan
During the post game interview, Lebron James mentioned that the difference in them winning was changing the game plan. He talked about how he watched a lot of film and made the changes necessary to win the game. (paraphrase)
When we create a financial plan (budget), often it doesn’t work the first time. We have to go back and see what we did or did not do in response to things not going right. You cannot keep doing the same thing over and over again and expect a different result.
No one person is responsible for a team winning or losing a game. Sure, there are the stars of the team but it takes everyone working together to win. The team has a goal and each person has to believe in and buy into that goal in order to achieve it.
Who is on your “Money Team”? It doesn’t matter if you are single or you have a significant other, you need a team of people around you and everyone needs to work together to achieve the goal. Your team helps keep you accountable, helps you to develop the game plan and is there for you when you have an “off day”.
Make a Public Statement
When Lebron James came back to play Cleveland, he publicly declared and promised that he would win a Championship. If you don’t know, it has been over 50 years since a sports team in Cleveland has one any kind of Championship. Prior to Lebron returning to Cleveland, the Cavaliers didn’t have a very good record. It was a bold statement for him to come to publicly declare and promise that he would win a Championship. There was a HUGE amount of pressure on him to fulfill that promise. There was a huge amount of accountability.
There is something that happens when you publicly declare a goal. You want to achieve that goal, no matter what it takes. What is your financial goal? Tell people about it. Have them ask you about it every once in a while.
After the final buzzer sounded, there was celebration mayhem. People were jumping up and down, screaming, hugging each other and celebrating! Lebron James fell to the floor, bowed his head and just let his emotions go for a few minutes. In the midst of all the chaos, he was there taking a few moments to let it go – all the emotion that had built up. He had finally achieved his goal!
Often, reaching financial goals takes a lot of hard work and time. It’s important to take the time and celebrate achievements, especially major ones.
What is your Financial Championship? For us, it’s being completely debt free – our mortgage is the only debt we have left. In 2013, we completed our first goal of paying off over $43K of consumer debt. Since then, we have stayed debt free!
In order to “win” and achieve our goal, we have all of these things in place – the game plan, teamwork, public statement and yes, we take the time to celebrate our accomplishments.
Do you have financial goals? Are you struggling to get everything in place to create a winning team? Do you need help?
Schedule your private coaching session TODAY so we can work together and help you develop a plan for you to WIN!