What I Learned Watching the NFL Playoffs

Last weekend, the final 4 teams left in the NFL playoffs squared off to see who would make it to the Super Bowl.  This year, it’s the New England Patriots vs. New York Giants playing in the season’s final game.  2 teams, 1 trophy……….I can’t wait.  I’m almost as excited about the commercials as I am the game.  My favorite team was eliminated, so there won’t be a championship parade for me to attend this year.  That made me think.  The NFL has 32 teams.  Only 1 wins the Super Bowl.  Only 1 is considered “successful”.  The other 31???  They all failed to meet their goals and have to wait another year to try to reach them.

Luckily for us, we don’t have to wait a whole year when we don’t meet a goal.  NFL teams have to go back to their plans for the season, see what they learned, and try to improve in the off-season.  They have 1 clear goal. Win the Super Bowl.  And it’s really easy to see if they make their goal or not.  Millions of us will watch the game and see which one team had the ultimate success.  As an individual, no one except me usually knows what my goals are.  I’m a big fan of setting goals, tracking progress, and finding a way to bring in a means of accountability.

Here’s a non-financial example……fitness / weight loss.  Let’s assume I find myself 10 pounds heavier than I’d like to be.  (If it were only 10……..!)  I could keep doing what I’m doing, hanging out w/my best friends Ben & Jerry, and find myself even further away from my goal.  Or, I could set a specific goal (Drop 10 lbs. by St. Patrick’s Day), track my progress (hop on a scale once or twice per week) and find a way to bring in accountability (tell my kids what my weight is so that they can put it on a chart & show me the graph).  Knowing that they expect the number reported to them, and if they don’t get it they ask, makes me think about putting down the spoon when Ben or Jerry start calling my name from the freezer.  Set the goal, have a plan, measure results and have accountability.  That’s a recipe for success.  (Anyone have a recipe for low calorie ice cream that tastes really good?)

What are your goals?  If it’s to be in a position to retire comfortably at age 65, to have $1,000,000 in assets before you retire, to lose a few pounds, to take a few classes, to get out of debt completely…..no matter what your goal is, the same principles apply.

  • First, have a clearly defined goal.  Know exactly what it is and when you want to reach it.
  • Then, do the work toward reaching it.
  • As you’re doing the work, track & measure your progress.
  • Most importantly, hold yourself accountable.  Find a way.  Tell a friend.  Tell your significant other.  Write a blog!  Whatever works for you….

Accountability is just as important, if not more important, than creating the goal in the first place.  You and I don’t have a scoreboard and a national TV audience to tell us if we’ve reached our goals or not.  In sports, the scoreboard is the ultimate success measure and system of accountability.  What is yours?  When you have the answer to that question, you can reach any goal you set.

 

 

More like this:

What’s Your Plan For a Financial Independence Day?

What’s Your Plan For a Financial Independence Day?

I personally think of financial independence as consisting of three different levels: ...
Read More
employees discuss 403b plan

What is a 403(b) Plan?

Like the 401(k), the 403(b) retirement plan is critical to retirement planning and saving for individuals with access to them ...
Read More
How to Change Your W-4 and Increase Your Take-Home Pay

How to Change Your W-4 and Increase Your Take-Home Pay

With a few small changes on your W-4, you can start taking a more proactive approach to managing your finances ...
Read More

Subscribe

Be the first to know when new resources are published.