I do not watch a lot of soccer, but the last few games have taught me lessons that can be applied to our personal finances. I’ve learnt that the only thing that matters at the end of the game is the score board. To win a league, a team needs to prepare and plan for the season, have tactical competency and strong team work. Much like a game of soccer, the numbers on our financial score boards do not lie!
It takes good planning to achieve success in life; be it our fitness, relationships or financial goals and there are no short cuts. For soccer players, it is daily habits such as going to practice, eating right and exercising to stay in shape. If we are to win at the numbers game we need to set financial fitness goals, cut out unhealthy money habits, get our head in the game and focus on the score board. It starts with asking ourselves “what do we want our money to do for us in 2021 and beyond?”
The next step is to take a notebook or financial journal and write down S.M.A.R.T financial goals, that will help us transform our finances and ultimately our lives. Ngola litabatabelo tse hlokang chelete! It is important to also remember that it takes time, discipline and a strong mindset to build Leruo. Joalo ka Mosotho ha a ne are, “lepotla-potla le ja poli, lesisitheho le ja khomo”.
S.M.A.R.T financial goals are:
Specific: The financial goal (s) must be specific and why achieve it is important. An example is I want to save and build up an emergency fund for rainy days, or to save up for my child who is starting university in 5 years.
Measurable: A goal should be measurable for example “I want to save LSL1, 000.00 monthly
Attainable: What will it take to achieve the goal? How much can I realistically afford?
Realistic: How likely am I to achieve this goal? What lifestyle changes would I have to make to achieve it?
Time bound: Just like Harvey McKay says “a dream is just a dream. A goal is dream with a plan and timeline” So when do we want to achieve the goal by?
The challenge however is we write down our goals, shelve them and procrastinate. I encourage us to be intentional about taking action, say “NO” to things that aren’t aligned to our financial goals and keep our eyes on the scoreboard.